Business in Canada
The largest country in North America and the second largest in the world, Canada is a developed country located 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, being one of the top 10 trading nations in the world.
The service industry in Canada is mature and highly developed, employing three-fourths of the country’s workforce. In the primary sector, the bulk Canada’s produce is in forestry, agriculture and petroleum industries.
Company Incorporation in Canada
A company 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 pertaining to the business. Because a sole trader is personally liable, a creditor can make a claim against his/her personal assets as well as their business assets in order 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 debts of the partnership) 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 with it 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 people of a community, generally to pool collective resources and cooperate to fulfil their common needs or support a cause. A co-operative is characterized by limited liability, right to vote for every member, and profit sharing. Like a corporation, a co-operative can be registered federally or provincially.
Benefits of Company Incorporation in Canada
A company 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 a 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 very 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 counselling 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.
Business Setup Worldwide helps entrepreneurs and investors establish their company in Canada through incorporation, registration and legal consulting services. Our experts take care of the entire Banking, Visa, Legal, and Licensing formalities, and allow corporates to focus on their company formation process without having to worry about the legal formalities. We guide you through your company formation, with your business objectives at the centre of our ecosystem, all the way.
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. If you are wondering how to register your company in Canada, do reach out to us.