Company Formation in Canada

Business Setup in Canada

The largest country in North America and the second largest in the world, Canada is a developed country above the United States of America. It is surrounded by 3 oceans (Pacific, Arctic, and Atlantic) and has the longest coastline for any country. It is a cosmopolitan nation with a highly globalized economy. Canada is actively involved in international import and export, one of the world's top 10 trading nations.

The service industry in Canada is mature and highly developed, employing three-fourths of the country’s workforce. In the primary sector, the bulk of Canada’s produce is in the forestry, agriculture, and petroleum industries.

Company Formation in Canada

A company formation in Canada can be started as one of the following legal entities.

  • Sole Trader: This type of corporation is owned by a single person who bears unlimited liability for the business, i.e., is fully responsible for all debts and obligations of the company. Because a sole trader is personally liable, a creditor can make a claim against his/her personal and business assets to liquidate any debts. All profits, as well, are reaped by the owner.
  • Partnership: A partnership is owned by 2 or more people. A partnership could be a general partnership (where each partner is jointly liable for the partnership's debts) or a limited partnership (where a partner can contribute to the business without being involved in its operations). A partnership, like a sole trading company, carries an unlimited liability.
  • Corporation: A corporation is a legal entity that separates the business from its owner, implying that the owner is not personally liable for the financial matters of the company. In Canada, a corporation can be incorporated either federally or provincially.
  • Co-operative: A cooperative is an association formed by community people to pool collective resources and cooperate to fulfill their common needs or support a cause. A cooperative comprises limited liability, voting rights for every member, and profit sharing. Like a corporation, a co-operative can be registered federally or provincially.

Benefits of Company Formation in Canada

A company registration in Canada enjoys the following advantages:

  • Canada has a welcoming business environment and is one of the smoothest countries in the world to conduct business in.
  • Canada has a large area, occupies a strategic location, and is a member of the major international and intergovernmental organizations of the world like the G7, the G20, the United Nations (UN), the Organisation for Economic Co-operation and Development (OECD), the North Atlantic Treaty Organization (NATO), and the North American Free Trade Agreement (NAFTA). Consequently, it wields remarkable access in terms of market access.
  • Canada is one of the most cosmopolitan countries in the world, with world-class universities, a universal health care system, and clean and friendly towns. It is one of the best countries in terms of quality of life.
  • Canada’s banking system is considered robust and business-friendly. International transactions and banking are highly developed in Canada.
  • Canada has a highly educated, English-speaking workforce, so procuring human resources is convenient here.

Who We Are

Business Setup Worldwide is a platform to help you set up a business in Canada. Right from incorporation, registration and licensing to establishing your office space, we facilitate the formation of your enterprise through counseling and incubation.

Business Setup Worldwide's proprietary business design techniques, combined with its specialized regional know-how and global reach, enable companies to anticipate changes in customer priorities and the economic market, and then mould their businesses and improve operations to make use of opportunities created by those changes.

Why Us?

Business Setup Worldwide helps entrepreneurs and investors establish their companies in Canada through incorporation, registration, and legal consulting services. Our experts take care of the banking, Visa, Legal, and Licensing formalities and allow corporates to focus on their company formation process without worrying about the legal formalities. We guide you through your company formation, with your business objectives at the center of our ecosystem.

Our commitment to professionalism, exhaustive capability spanning different industries, proactive learning in the ever-changing global environment, and the ability to conceive innovative strategies and provide comprehensive support in executing such strategies distinguish Business Setup Worldwide, and provide the competitive edge in ensuring business growth. Contact us if you are wondering how to register a company in Canada.

FAQs

What are the advantages of setting up a company in Canada?

The benefits of setting up a company in Canada are,
Continuous existence
Ownership of the business entity is transferable
Raising money is easier
Tax advantage
Increases credibility and business worth
Financial banking

How to start a business in Canada?

To start a business in Canada, one should follow the below procedures
Select the type of business
Register your Business Name
Choose the Location
Get a business license
Pay the fees

How many days does it take to start a business in Canada?

It takes 3 – 5 business days to incorporate a business in Canada.

Do I need a lawyer to incorporate Canada?

There's no legal requirement to consult with a lawyer or accountant to incorporate, and it is possible to incorporate online on your own. However, a lawyer and accountant can help ensure that your company is set up properly.

What is the most profitable business in Canada?

The top ten most profitable industries in Canada are,
Real Estate Sales & Brokerage
Long-Distance Freight Trucking
Pharmaceuticals & Pharmacy Supplies Wholesaling
Meat, Beef & Poultry Processing
Natural Gas Distribution

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