Choose the jurisdiction which best suits your needs
Why choose this jurisdiction when starting a business?
Canadian legislation does offer the opportunity of registering and using Canadian corporate entities with a zero rate of tax. These are known as Limited Partnerships.
The LP is a limited partnership which has no less than two partners. One of the partners is a General Partner, whilst the other partners have the status of Limited Partners.
A Canadian LP with foreign members, which does not carry on a business in Canada and derives no income on Canadian territory, is not liable to tax in Canada. According to the Canadian tax laws, the LP is not considered as the separate subject of taxation. It is the founders (“Partners”) who should pay taxes from the profits received by the LP Company in the place of their residence, in proportions according to the shares of interests belonging to them in the LP Company, if it is stipulated by the legislation of that particular country.
No restrictions on residency of partners
No minimum authorized capital
No corporate income tax on
Packages and Prices
The cheapest option – accountancy support, free business consultant and much more.
A special package that includes a Business Company plus fully functioning bank.
Includes all services of Business Package plus full Nominee Services, Director and Shareholder.
Limited Liability Partnerships (LLP) in Ontario (ON) were introduced following the passing of Part 6 of the Canada Ontario Partnership Act 2000 on 17th January 2005. A Canadian LP with foreign partners, not carrying on a business in Canada and deriving no income on Canadian territory, is not liable for local taxation in Canada. According to the Canadian tax laws, an LP is not considered as a taxable entity; taxation falls upon each partner, who is liable for payment of taxes from the profits received from the LP at their own place of residence, on the proportion of their own equity help on the partnership.
The advantages offered by the ON LLP are the same as those offered by UK LLPs.
An ON LLP is created by registering a partnership with the ON Corporate Registry. It is formed by two or more corporate (or individual) persons entering into a partnership agreement, for the carrying on of a lawful business for profit.
Although the registrations of LLPs in other Canadian provinces are restricted to professional practices, there are no similar limitations for ON LLPs.
ON LLP accounts are not required to be publicly filed or disclosed.
ON LLPs are required to file an annual report with the ON Corporate Registry; although the filed annual reports are open to public inspection, they contain limited information. Generally, ON LLPs must submit annual Partnership Information Returns to the Canadian Revenue Agency which state the partners’ share of the profits and losses of the LLP. However, this obligation can be dispensed with where the LLP has 5 or fewer partners; does not carry on business in Canada; and does not have any Canadian partners.
Atrium is offering special packages that include a Business Company plus fully functioning bank account with debit card and online banking, to enable you to operate your account remotely. For those requiring a higher degree of confidentiality and anonymity, our Premium Package includes all services of a Business Package plus full Nominee Services.
How can we help you?
Should you have any question, our Business Development Managers team will be ready to guide and assist you!