Limited Liability Partnership Registration (LLP)
Canada LLP Registration for only $2200 CAD all inclusive. Canada is a country with a comparatively strict system of taxation. Ordinary Canadian companies are liable to tax on all their worldwide income. Accordingly, they have no features attributable to tax-exempt or offshore structures.
As such, Canada has an image in the eyes of entrepreneurs and government bodies as a country with a standard system of taxation. Due to this, any structure established in Canadian territory is considered a highly prestigious vehicle.
However, Canadian legislation does offer the opportunity of registering and using Canadian enterprises with a zero rate of tax. These are known as LLP companies. The LLP is a limited partnership which has no less than two partners.
A Canadian LLP 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 LLP is not considered as the separate subject of taxation. It is the founders (“Partners”) who should pay taxes from the profits received by the LLP company in the place of their residence, in proportions according to the shares of interests belonging to them in the LLP company, if it is stipulated by the legislation of that particular country.
Directors/Officers
Canada LLP companies require a minimum of 2 Partners, who may be natural persons or corporate bodies from any legal jurisdiction.
Each Canada LLP company must file a Register of its Partners with the Register of Enterprises of the appropriate province of Canada.
LLP Business Name
The name of a Canada LLP company must end with the words “Limited Liability Partnership”, or abbreviature “LLP”. Company names containing restricted words such as “Bank”, “Insurance”, “Trust” etc. will not be permitted unless an appropriate national operating license has been obtained by the company.
Annual Return
There is no requirement to file an Annual Return.
Filing of Financial Statements
Every Canadian LLP must keep appropriate accounting records, and prepare a Financial Statement annually.
Corporate Taxation
Canada LLP companies with non-resident partners which have no business activities in Canada; do not derive any income from Canada sources, and are managed and controlled outside of Canada, are exempt from Canada Federal and Provincial corporation taxes.
Tax Treaties
Canada LLP companies are not regarded as resident for tax purposes in Canada and therefore are not entitled to take advantage of Double Tax treaties concluded by Canada with other countries.
Price of Canada LLP company
CAD 2,200, including incorporation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalized by Apostille, including General Power of Attorney.
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