Offshore Companies
Choose the jurisdiction which best suits your needs
Canada, Ontario
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
Canada, Ontario
Standard
Package
The cheapest option company formation, payment government fees, registered office, local registered agent, Client Due Diligence (CDD) full and free tax and legal assistance, and much more, to keep your entity fully compliant.
Business
Package
A special package with all services as included on the Standard Package, plus our Bank Account opening services with an internationally known financial institution, offering you online banking, multi-currency account, debit cards and all other major banking services you may need.
Premium
Package
A package with all services as included on the Business Package plus full Nominee Services (Nominee Members and Managers) providing you the highest degree in terms of confidentiality and anonymity.
Advantages
LPs are established under the Ontario Limited Partnerships Act 1990. 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 LP are the same as those offered by UK LLPs.
An ON LP 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 LPs in other Canadian provinces are restricted to professional practices, there are no similar limitations for ON LPs.
The agreement, which is essentially the ‘constitution’ of the LP, is a private document, which does not require registration or public disclosure.
ON LP accounts are not required to be publicly filed or disclosed.
ON LPs 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 LPs must submit annual Partnership Information Returns to the Canadian Revenue Agency which state the partners’ share of the profits and losses of the LP. However, this obligation can be dispensed with where the LP has 5 or fewer partners; does not carry on business in Canada; and does not have any Canadian partners.
It is possible to set up an LP so that it is transparent for taxation purposes.
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!