Eternity Law International News Registration of a company in Canada for a non-resident

Registration of a company in Canada for a non-resident

Published:
March 24, 2020

Registration of a company in Canada for a non-resident, as well as opening a bank account, is a topical issue today. Since there is a trend in the world at the moment for legal and reliable reasons for living in Canada.

IF YOU ARE NOT CITIZENS OF CANADA

If you are not a Canadian citizen or an immigrant, you can create a business in Canada, but your options are more limited:

1) Incorporation (Corporation). If the choice fell on a provincial town, for example, Ontario, it is necessary that the Canadian resident is a co-founder of your company.

It is important to note that the founder must have a high percentage of participation, the company must have a legal address and have a director. As an exception, the provinces of New Brunswick and Quebec are worth mentioning.

For these provinces, to go through the procedures for registering a new enterprise and opening a bank account, the founder does not need to be present in person.

The only obligation is to provide a full financial report one and a half years after registration. In other words, if 18 months have not been successful for the company, a decision is made to close it.

2) Ontario is one of the richest provinces in whose territory about 50% of the country’s production is located, but it is recommended to register LLC or Limited to register an enterprise in it.

The procedure is quite simple, one condition: partners should not be residents of Canada, in the country their business is not taxed, as a result, there is no need to submit any reports.

This type of registration is very popular in the field of software development, as well as among enterprises and corporations that distribute their services around the world.

OPENING A BANK ACCOUNT

Regarding bank accounts, opening is available as a corporate account. e. (America or Canada).

An important point: Canada is one of the countries of the Great 20, which alone does not provide for the collection of taxes from persons who open bank accounts in the country. Banks of Canada are not required to provide information on opening accounts to tax organizations.

Also, the processes of registration and opening of a company / enterprise in the country in question are not considered a direct reason for issuing immigration documents, but this will be a special advantage when participating in any government programs.

Eternity Law International specialists provide registration and accounting services in Canada to non-residents of the country who would like to expand their business in Canada or plan to immigrate as a business immigrant.

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