Not surprisingly, Canada is popular among tourists, immigrants, businessmen etc.
And even cold weather, six time zones, heavy rains will not stop
newcomers from all over the world.
Country of best hockey players, spectacular nature with forests, mountains,
lakes and third largest oil reserves of any country in the world
is also a very attractive jurisdiction for business activities.
Basic Information about Canada:
- state across the northern part of the North American continent
- With its area of 9,984,670 square kilometers is the second biggest country
in the world with total population of just 34.83 millions
- Capital city is Ottawa
- Canada is a part of the Commonwealth with Queen Elizabeth II,
as the head of it
- official languages are English and French
- it is a very advanced country with vast mineral wealth and resources
- Closely cooperating politically and economically with its southern neighbor, the United States.
Business in Canada. Why is it so good you?
- Company Formation in Canada provides access to a developed rich market
with good consumers. Furthermore, Canada can easily open you gates
for the most desirable consumer market in the world- United States ,
where your business can grow in new potential areas
- If you already have founded the company in your home country, and want to expand to Canada
(and not a resident of Canada), you must establish a so-called “Extra-Provincial Corporation”.
Its foundation is relatively simple and straightforward, and always follow the rules of the territory
in which the company was founded. Although the rules and charges
in individual territories varies slightly, they are still generally similar everywhere.
Discuss more about Canada incorporation with our Zenron agent.
- There are tax benefits for small businesses that can claim a tax credit,
that is how Canadian government motivates and encourages the business sector.
- Non-resident companies which have a branch in Canada only, subject to 38% tax,
but this rate can be reduced on the basis of agreements on double taxation.
- There are three types of companies – Society, Partnership or Corporation.
But be aware,that In case of Corporation at least 25% of the directors must be residents in Canada.
- But Canada is very careful with foreigners and that is why in every incorporation
Canadian resident is a mandatory. If an entrepreneur founds Partnership
together with another partner, one of the partners should also be a resident of Canada.
- Income tax rate for resident entities is set at 15%,
while withholding tax on dividend payments is 25%.
- If you want to live and work in Canada, you should apply for the business investor visa.
Learn more about immigration to Canada or other countries.
Of course, Canada is not a classic offshore jurisdiction, like Seychelles, Belize,
it does’t offer 0% taxation. Canada is different. It is a stable strong economy country,
that will make you look respectably in the eyes of your international partners
and clients and bring your business to a new level and new market (USA,Canada).
Incorporate in Canada NOW!