Cost: from 9500 EUR


Registration of a Canadian LP with a First-Class Canadian Bank Account, Canada

We offer you to register a limited partnership in Canada – a full-fledged Canadian company with a local legal address and a corporate account. The advantage is that you can do so remotely, without a personal visit to Canada. A correctly registered LP will give you a unique opportunity to settle with counterparties in USD around the world without additional restrictions.

Canadian LP Partnership

Register a Canadian LP Partnership with a Bank Account: Benefits

What are the advantages of a limited partnership in Canada? 

First, authorities pay little attention to these as LPs are less popular than partnerships in England or Scotland.

Secondly, you can register a partnership remotely, without a personal visit to Canada. Registration takes about 2 weeks from the date on which a full package of documents is received.

A partnership in Canada is a full-fledged company with its registered office address. It can open a corporate account anywhere, Canada included. At the same time, it is not considered a tax resident, and the profit is distributed among partners that pay taxes at the rates set by the law of their countries of residence.

LP has no minimum statutory fund requirements. The limited partner’s liability is limited to its contribution to the partnership’s capital. The general partner bears full responsibility.

Both corporate and private persons may be engaged as partners, but a private person is preferable if you want to open an account in Canada. Let’s explain a little bit below.

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The partnership is required to keep records, but there is no need to undergo an audit or pay corporate tax.

Features of a Reliable Limited Partnership in Canada

If you expect to play a long game and want to open an account in Canada to make mutual settlements with counterparties in dollars without unnecessary trouble (like getting into offshore or sanctions lists), there are some rules to follow.

First, you need a local partner-director in the structure.

Canada strives to get rid of shell companies, so a real Canadian resident in the company is a must. We offer you the services of a nominee director and partner.

This is not just a “sitting duck” but a real worker who plays a crucial role in your Canadian company. He ensures interaction with banks and government agencies, represents the company on site, and protects its interests.

Here is a real situation.

An LP in Canada started a major deal and attracted many contractors to implement the project. The bank had its suspicions about atypical client behavior and summoned the resident director for clarification. The nominee was fully aware of what is happening thanks to the interaction with the beneficial owner, so he prepared documents and explanations, came to the bank and told the authorities how things were going and what next actions were planned. The bank representatives listened attentively, looked through the documents, and no longer interfered with the business.

Suppose the beneficial owner decides not to share the information with the resident director (which is a purely personal decision). In this case, the director cannot explain what is going on, and the bank has to call the beneficial owner to clarify the situation. The beneficial owner can explain everything, but it raises the bank’s suspicions as to the “need” of a Canadian director who does not know the business.

If the beneficial owner cannot explain the operations or show the documents, difficulties in relations with the bank arise inevitably. And it has its implications…

There will be two partners in the registered partnership, one of them being a Canadian resident. The second one may be represented by a private person or legal entity. 

If you choose a legal entity, you will need to collect a larger package of documents, and it will not be possible to work normally or open an account in Canada if this is an offshore company. There is no sense in such a structure, so it is reasonable to select a private person as a partner. This choice will simplify working with documents and communication with banks in the future.

If you want to open an account in any other country, almost any structure will do, and you can even engage foreign companies.

The second feature to consider is the credit history. 

Since you are a foreigner, you are unlikely to have a credit history with a local bank at the time of starting a business in Canada. As a result, the bank imposes restrictions on transactions on the account.

For example, you cannot transfer more than CAD30,000 via Internet banking in the first month. You need to conduct normal business and show that the company is alive and real. If large one-time transfers are required, evidence documents (invoices, etc.) should be prepared and sent to the resident director, and he will personally visit the bank in Canada and issue a personal transfer order.

In general, we recommend using our help as a secretarial company for financial transactions to ensure secure banking. We will check your documents, make sure that everything complies with the law, and tell you how to correctly process payments. You will avoid problems with the bank at the start, gain experience with the banking system in Canada and earn credit history.

After the restrictions are lifted and you feel confident, you will conduct all operations yourself and share information with the local director to keep him aware of what is happening. Just in case.

A balance of more than CAD100,000 can help speed up the removal of restrictions on transfer amounts. This is not a deposit and you can use it, but it is useful to keep the money in plain sight of the bank for a couple of weeks to win the necessary trust.

Once you’ve earned your credit history, you’ll be able to open an account for your bank card and transfer funds to it.


Discuss the details with an expert

Check the list of required documents, and get the details of the process, terms, and costs.

Contact a consultant

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Documents for LP Registration in Canada

To register a company, you will need to provide the following documents:

  • From each partner:
    • certified copy of the foreign passport
    • proof of residential address (utility bill or bank statement)
    • reference letter from the bank
    • company name

The documents should be translated into English and certified.

Costs of establishing and maintaining a limited partnership in Canada

LP RegistrationChecking the uniqueness of the company name;
Company registration; Legal address for 1 year;
Postal address for letters from government agencies for 1 year;
Registration agent for 1 year; State fees;
One nominee partner for a year;
Courier delivery worldwide;
Original corporate documents.
EUR 6,250 
Annual renewal + renewal of nominee service for a year EUR 4,750 

The annual renewal of LP registered in Canada costs EUR 4,750 and includes renewal of partnership for a year, nominee partner for a year, and renewal of LP registered address in Canada for a year.

If the partnership generates an income of less than CAD 2 million per year, EUR 4,750 is the only obligatory cost for LP renewal.

If the income exceeds CAD 2 million per year, reporting is mandatory. The minimum mandatory cost of accounting support for the partnership is EUR 2,250.

The total cost of renewal for LP registered in Canada with the annual income exceeding CAD 2million amounts to EUR 7,000 and includes the partnership renewal for a year, the nominee partner for a year, the LP Canadian legal address renewal for a year, and accounting support for the partnership.

Office services

Services of a nominee partner, director, agent, manager, per yearEUR 1,750  
Express registration, optional  
Ontario General PartnershipEUR 750 2 business days
Ontario General Partnership with a business account opened with a Canadian bankEUR 2,250 6 business days
Legalization of constituent documents  
Notarization of documentsEUR 250 per documentFrom 2 business days
Legalization of documentsEUR 500 per documentFrom 2 business days
Documentary support  
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 are included in the cost of general partnership registration in Ontario.)EUR 125 per document 
Preparation of additional corporate documentsEUR 750 per hour 
Modification of the constituent documentsEUR 750 per set 
Corporate embosserEUR 250From 2 business days
Pocket embosserEUR 225 From 2 business days
A round seal with an automatic displayEUR 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 numberEUR 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 arrivalEUR 250 per trip 
Transfer from the hotel to Toronto Airport on the day of departureEUR 250 per trip 
Mail service  
Subscription to a postal address for 12 months (delivery services are charged additionally)EUR 900  
Subscription to a postal address for 6 months (delivery services are charged additionally)EUR 540  
One-time courier shipment order (delivery services are charged additionally)EUR 125  
Storage of postal items for 1-3 daysFree 
Storage of postal items for 4-30 daysAt least EUR 15 per day 
Canadian virtual office services per yearEUR 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 deliveryAt least EUR 250 

Opening a Corporate Bank Account for the Canadian LP in a First-Class Canadian Bank

The first-class Canadian Bank is the second-largest financial holding company in Canada. It provides a wide range of banking, insurance, and investment services. It was established in 1955 after the merger of two banks.

The assets managed by the entire group exceed a trillion Canadian dollars.

The Bank offers services for individuals, businesses, state and municipal entities. It has branches across Canada and the US, facilitating cross-border trade and business.

The Bank offers companies:

  • To open a corporate account (remotely as well)
  • Trust account (if you hold customers’ funds)
  • Deposit account (to receive interest on the deposit)
  • Business investments
  • Funding
  • Cash management
  • Cross-border trade services with the USA
  • Services for international transfers
  • Insurance
  • Consultations of specialists

If you open an account outside the partnership package, the service will cost EUR 6,250.

The account is opened within 14 days after receiving a full set of personal and corporate documents.

Immediately after opening an account, you will receive a token to access the Internet Bank as a sole owner. The nominee director does not have access to the account. But we recommend providing him access to accounting and other documents as this will allow him to stay up to date and report to the bank if necessary.

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NOTE: If you open an account with a Canadian bank, you cannot open an account in foreign banks.

If it is important for you to open an account in other jurisdictions, make an appointment in advance for a consultation on the bank account selection. We will offer various options, whether banks or payment systems.

The Procedure of Limited Partnership Registration in Canada with an Account in a First-Class Canadian Bank


Please contact us at and say that you want to register a partnership in Canada with a bank account in Canada.


Provide basic information about yourself and your business.


Pay the cost of the service. If you make a personal visit to open an account, the fee starts from 9500 EUR, while remote procedure costs from EUR 10,250.


Prepare a complete set of documents for LP registration and account opening.


The procedure will take up to 1 month, including account opening.

Request the service at the address above and establish a company in a respected jurisdiction, enabling you to work with dollars even if the rest of the world abandons them.

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