Canada is one of the most multicultural countries in the world. It is a leader of G7 as for the general quality of life. Canadian companies are well respected in the world and it is very convenient for them to deliver goods to Northern America. Canada is the largest trade zone of the world and it is included to the white list.
Country’s jurisdiction advantages
- Low tax rates (46% lower, than in USA).
- Economic growth.
- Financial stability.
- Educated workforce.
- No need to agree contracts with legal services.
- International reputation.
- No need to submit tax declarations.
- No limits for partners’ residency.
- No corporate tax.
- Convenient country for tax planning.
- No need to submit annual reporting.
- Is not listed as an offshore zone.
Country’s jurisdiction disadvantages
- Complicated documents legalization procedure.
- Main corporate partner is obliged to be registered as an Extra Provincial Corporation.
- LP can not avoid double taxation as it is not Canadian tax payer.
Types of companies available
Limited Liability Partnership (LP) – can have business activity in any country.
Who will benefit the most
- International trade.
- Software development, internet-commerce and web programming companies.
- The name can be in English, French and include the abbreviation “LP”.
- At least one main should be present.
Company’s partner pays taxes separately. The partnership itself does not bare tax.