- LP Registration in Canada: Advantages
- Documents Required for Partnership Registration in Canada
- Costs of Establishing and Maintaining a Partnership in Canada
- Open a Corporate Bank Account in Belize for a Partnership in Canada
- How to Register a Limited Partnership in Canada with an Account in an Offshore Bank in Belize
Register a company in Canada and open a bank account with a reputable offshore bank in Belize. The entire procedure can be completed remotely without a personal visit to the country. Our team of experts will help you save your time and efforts and focus on business.
If you are interested in the formation of other types of companies abroad, the experienced specialists of our international portal can help you choose a suitable option tailored to your needs and goals.
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LP Registration in Canada: Advantages
When we say “a foreign company”, many people tend to think in extremes: they either think of offshores that ring the bell as something associated with scandals and some suspicious activity – or imagine international corporations that have taken root all over the planet.
However, there are hundreds of really good options somewhere in between that can be used by reasonable entrepreneurs, and a Canadian LP is one of them.
Here are the main benefits of starting a Limited Partnership in Canada:
- A possibility of remote company registration
- No corporate tax levied since an LP is not a tax resident of Canada and no local taxes apply to it
- A possibility to open an account in almost any country if you fulfill the requirements set by the bank
- High reputation of the jurisdiction
- Diversified economy
- Access to the most solvent markets
- No requirements set for the company’s authorized capital
- Limited liability of the limited partner
- A possibility to appoint individuals and legal entities from any jurisdiction as partners
To tell the truth, we do not recommend using a foreign legal entity as a partner as you will need to submit more documents and meet stricter verification requirements during registration. However, this possibility exists, and you can use it if there is a business need to do so.
A Limited Partnership in Canada is a full-fledged entity that has its registered office. The registration process is completed within 2 weeks from the date we receive a full package of documents.
The Limited Partnership must have at least two partners: a general partner with unlimited liability and a limited partner whose liability is limited to its contribution to the LP.
We can help you open a corporate bank account for your partnership in Canada to get your business structure operational within a limited time and without much hassle on your part.
If you want to open an account for your Canadian LP outside Canada, our experts can easily help you with that. However, remember one limitation: if a business entity has a foreign bank account, it will not be able to open an account in Canada.
Documents Required For Partnership Registration in Canada
Each partner will have to provide the following documents to register a new Limited Partnership in Canada:
- A certified copy of the passport
- Proof of the beneficiary’s address of residence (this is most often a utility bill that is required to be issued no more than 2 months ago)
- A reference letter from a bank with which you have been cooperating for at least 2 years
You will also need to think of a name for your LP that meets the relevant criteria: for instance, it cannot include the name of the general partner or the company that he owns.
Documents will need to be translated into English and certified.
Costs of Establishing and Maintaining a Partnership in Canada
|LP Registration||Checking the uniqueness of the entity name|
Legal address for 1 year
Mailing address for letters of state bodies for 1 year
Registered agent for 1 year
Courier delivery all over the world
Original corporate documents.
|Annual renewal||EUR 3,000|
Services of a nominee partner, director, agent, or manager (per year) EUR 1,750 Express registration (optional) Ontario General Partnership EUR 750 2 business days Ontario General Partnership with a business account opened with a Canadian bank EUR 2,250 6 business days Legalization of constituent documents Notarization of documents EUR 250 per document From 2 business days Legalization of documents EUR 500 per document From 2 business days Support with documents Preparation of constituent documents (Preparation and notarization of the first copy of the constituent documents (Master Business License, Partnership Agreement, Power of Attorney, Assignment of Partnership Interest) for one non-resident partner is included in the cost of partnership registration in Ontario. EUR 125 per document Preparation of additional corporate documents EUR 750 per hour Modification of the constituent documents EUR 750 per set Corporate embosser EUR 250 From 2 business days Pocket embosser EUR 225 From 2 business days A round seal with automatic display EUR 240 From 2 business days Gold embosser stickers (60 pieces) EUR 25 Silver embosser stickers (60 pieces) EUR 25 Red embosser stickers (60 pieces) EUR 25 SIM card with a Canadian number EUR 50 Concierge services Concierge services in Canada, including visa support, hotel reservations in Toronto, flight bookings to/from Canada, escort and tour services (excursions, shopping, business, etc.), interpreter services (at least 3 hours) EUR 125 per hour Toronto Airport pickup and delivery on the day of arrival EUR 250 per trip Transfer from the hotel to Toronto Airport on the day of departure EUR 250 per trip Mail service Mailing address subscription service for 12 months (delivery services are charged additionally) EUR 900 Mailing address subscription service for 6 months (delivery services are charged additionally) EUR 540 One-time courier shipment ordering (delivery services are charged additionally) EUR 125 Storage of postal items for 1-3 days Free Storage of postal items for 4-30 days At least EUR 15 per day Canadian virtual office services per year EUR 1,750 Accounting support Accounting services for the partnership (including registration of business transactions and bank transactions, preparation of an annual report on financial activities in the bank, preparation of an information letter in the Revenue Canada form) At least EUR 1,250 per year Courier delivery At least EUR 250
If you want to establish a partnership with a nominee partner, manager or other person, the cost of the service will amount to EUR 6,250.
Open a Corporate Bank Account in Belize for a Partnership in Canada
We strongly recommend choosing an offshore bank in Belize to open a corporate account. This is one of the most respected financial jurisdictions in the offshore area where non-resident companies and individuals can get high-quality services. However, there are restrictions on the geography of the prospective client’s permanent residence and the sphere of business activity.
In 2023, the offshore Belizean bank that we recommend does not work with clients from Russia, Belarus, Crimea, or countries on the FATF and OECD blacklist.
The bank offers world-class service. Companies can open accounts, invest and multiply their wealth, open deposit, fixed-term, and demand accounts, and issue prepaid VISA cards.
The service rates for companies and partnerships in the bank we offer are available in the post Corporate account in an offshore bank in Belize.
The bank offers Internet banking services, interest-bearing deposits, and current accounts.
The account is opened remotely. The turnkey service package costs EUR 3,999.
You will need the following documents to open an account with a bank in Belize:
- Completed, printed out, and signed bank forms for opening an account
- A color notarized copy of the passport or other acceptable Identification Document (photo and signature pages) (for directors, beneficiaries, managers, etc.)
- A notarized copy of proof of residence address (utility bill) for all the above persons (no older than 2 months)
- A reference letter from the bank on professional relations lasting at least a year
- A reference letter from a professional (lawyer, notary, etc.) on business relations lasting at least a year
- a notarized copy of the share certificate (if the entity has registered shares) and the Deed of Trust if the entity has a corporate shareholder(s)
- A notarized power of attorney giving the right to open and manage an account
- A notarized copy of the minutes of the general meeting and the Articles of Association of the legal entity/structure/Operating Agreement
- A notarized copy of the entity’s Certificate of Incorporation
- A notarized copy of the Certificate of Good Standing (if the entity has been in existence for more than 1 year)
- A notarized copy of the entity’s Memorandum and Articles of Association (Bylaws/Operating Agreement)
- Certificate of Shareholders/Subscribers
A description of business activities will also be required.
You will get a fully operational account within 2 weeks from the date we receive a full set of documents.
How to Register a Limited Partnership in Canada with an Account in an Offshore Bank in Belize
- Write to us at email@example.com and state that you wish to register a company in Canada with a foreign bank account.
- Provide primary information about the business and yourself so that we could assess whether we can provide the service.
- Pay for company registration and account opening (from 7499 EUR).
- Payment can be made by bank transfer, by plastic card, via WebMoney, WesternUnion, MoneyGram, or Bitcoin.
- Please collect and send a complete set of documents to us.
- As soon as we receive payment and documents, we will proceed to register the Limited Partnership and open an account. The whole procedure can take about 1 month.
Interested? Get in touch with us now to ask any questions or order the service straight away.