Company Registration

A team of professional personal consultants will assist your business in solving complex cases regarding tax issues, global market access, asset diversification and protection, as well as investment. 24/7 service.

ONTARIO GENERAL PARTNERSHIP (Canada) + account in TORONTO-DOMINION BANK

A General Partnership in Ontario (Canada) is not a widespread structure in global business practices. This form of business registration allows combining Canada's undeniable reputational benefits with offshore elements of tax optimization.

Alongside a company, our client will get an account in Toronto-Dominion Bank, the second largest Canadian bank.

Taxes

The territorial taxation is applied. The partnership itself does not pay income tax on its activities and does not file an annual tax statement, provided that the business is not conducted in Canada. Instead, each partner includes a part of the partnership's gain and loss in a personal, corporate, or trust tax statement.

The company does not have a tax number.

Confidentiality and management structure

Registrar:

The registrar of companies in Canada is open, but is available only to authorized users, which largely complicates access to the data.

Structure:

Two partners are required. One of them shall be a citizen of Canada, a representative of the registered agent. Such structure allows opening bank accounts in Canada.

Administration

Partnerships as such are exempt from taxation in Canada. That means that accounting is determined by the scope of activities. If the annual turnover of the partnership exceeds 2 million CAD, financial statement should be submitted.

Once a year, all companies submit an Annual Return– a brief reference on the current company status.

We inform our customers in advance of the extension date and the documents needed for the financial report.

Maintenance price

The price of company registration and the first year of maintenance starts from 6000 EUR. The price includes:

  1. Company registration and obtaining a legal address;
  2. Opening a bank account in Toronto-Dominion Bank;
  3. Postal address;
  4. Local secretary service;
  5. A resident of Canada in a partnership structure;
  6. Set of corporate documents;

Cost of annual company extension – 3600 EUR. The price includes:

  1. Legal address;
  2. Local secretary service;
  3. Submitting ofAnnual Return;
  4. A resident of Canada in a partnership structure.

DHL – 150 EUR.

Preparation and submission of financial report – from 950 EUR (depends on the amount of transactions).

*The term of company registration "on a turnkey basis" is4-6 weeks.

To summarize

It is time to leave offshores behind and to move on to the new stage with new jurisdictions. A company with a bank account in Canada is not associated with tax havens and thus it is a beneficial business instrument.

 

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