Corporation in Canada

Worldwide Incorporation Services specializes in Canada Corporation Formation and opening bank accounts.

Canada Corporation Formation

 

Canadian Corporation – General Information

Principal Corporate Legislation

The Companies Acts 1931 to 1993. Limited Liability Companies Act 1996. Canada Business Corporations Act (CBCA).

Type of Law

Common.

Language of Legislation and Corporate Documents

English.

Currency

Canadian Dollar (CAD).

Exchange Control

None.

Canada Corporations

 

Canada Corporations: Key Aspects

Types of Company for International Trade, Investment & Tax Planning

  • Federal Corporation
  • Ontario Corporation
  • New Brunswick Corporation
Federal CorporationOntario CorporationNew Brunswick Corporation

Canada – Federal Corporation

Share Capital

Standard authorised share capital is CAD10,000. Minimum paid up share capital is CAD1.

Classes of Share Available

Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Bearer Shares

Not permitted.

Restrictions on Trading

Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Office Required

Yes, must be maintained in Canada.

Directors

The minimum number of directors is one. Director can be of any nationality and need not be resident but at least 25% of directors must be a resident of Canada.

Shareholders

The minimum number of shareholders is one.

Publicly Accessible Records

Yes.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

Federal Corporate Income Tax 11-16,5%. Provincial or territorial corporate tax rate varies from province to province.

Double Taxation Treaty Access

Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Brazil, Bulgaria, Cameroon, Chile, China (PRC)1, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Egypt, Estonia, Finland, France, Germany, Guyana, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Korea, Republic of, Kuwait, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Moldova, Mongolia, Morocco, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Papua New Guinea, Peru, Philippines, Poland, Portugal, Romania, Russia, Senegal, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Thailand, Trinidad & Tobago, Tunisia, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Venezuela, Vietnam, Zambia, Zimbabwe.

Requirements to File Accounts

Yes.

Requirement to File Annual Return

None.

Audit Requirements

None.

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.

Name of a CompanyThe words Limited, Limitée, Incorporated, Incorporée, Corporation, Société par actions de régime fédéral or Ltd., Ltée, Inc., Corp., S.A.R.F. must be part of the name of every company.

Time to Incorporate

Five days.

Cost of Formation

Canada – Ontario Corporation

Share Capital

Standard authorised share capital is CAD10,000. Minimum paid up share capital is CAD1.

Classes of Share Available

Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Bearer Shares

Not permitted.

Restrictions on Trading

Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Office Required

Yes, must be maintained in Ontario.

Directors

The minimum number of directors is one. Director can be of any nationality and need not be resident but at least 25% of directors must be a resident of Canada.

Shareholders

The minimum number of shareholders is one.

Publicly Accessible Records

Yes.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

Federal Corporate Income Tax 11-16,5%. Ontario Corporate Income Tax 11%.

Double Taxation Treaty Access

Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Brazil, Bulgaria, Cameroon, Chile, China (PRC)1, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Egypt, Estonia, Finland, France, Germany, Guyana, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Korea, Republic of, Kuwait, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Moldova, Mongolia, Morocco, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Papua New Guinea, Peru, Philippines, Poland, Portugal, Romania, Russia, Senegal, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Thailand, Trinidad & Tobago, Tunisia, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Venezuela, Vietnam, Zambia, Zimbabwe.

Requirements to File Accounts

Yes.

Requirement to File Annual Return

None.

Audit Requirements

None.

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.

Name of a Company

The words Limited, Limitée, Incorporated, Incorporée, Corporation, Société par actions de régime fédéral or Ltd., Ltée, Inc., Corp., S.A.R.F. must be part of the name of every company.

Time to Incorporate

Five days.

Cost of Formation

Canada – New Brunswick Corporation

Share Capital

Standard authorised share capital is CAD10,000. Minimum paid up share capital is CAD1.

Classes of Share Available

Registered shares, preference shares, redeemable shares and shares with or without voting rights.

Bearer Shares

Not permitted.

Restrictions on Trading

Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Office Required

Yes, must be maintained in New Brunswick.

Directors

The minimum number of directors is one. Director can be of any nationality and need not be resident in Canada.

Shareholders

The minimum number of shareholders is one.

Publicly Accessible Records

Yes.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

Federal Corporate Income Tax 11-16,5%. New Brunswick Corporate Income Tax 5-10%.

Double Taxation Treaty Access

Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Brazil, Bulgaria, Cameroon, Chile, China (PRC)1, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Egypt, Estonia, Finland, France, Germany, Guyana, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Korea, Republic of, Kuwait, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Moldova, Mongolia, Morocco, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Papua New Guinea, Peru, Philippines, Poland, Portugal, Romania, Russia, Senegal, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Tanzania, Thailand, Trinidad & Tobago, Tunisia, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Venezuela, Vietnam, Zambia, Zimbabwe.

Requirements to File Accounts

Yes.

Requirement to File Annual Return

None.

Audit Requirements

None.

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company” etc. will require justification.

Name of a Company

The words Limited, Limitée, Incorporated, Incorporée, Corporation, Société par actions de régime fédéral or Ltd., Ltée, Inc., Corp., S.A.R.F. must be part of the name of every company.

Time to Incorporate

Five days.

Cost of Canada Corporation Formation


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Canada Corporation Formation – Office Addresses

 


Worldwide Incorporation Services | Corporation in Canada

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