Canada $2800

Canadian Limited Partnership with a bank account starting from 3400 USD 2800 USD
Limited Partnerships are commonly used as a corporate and commercial vehicle to do business in Canada, the US, the EU, Latin America, and other highly regulated jurisdictions for software development activities and technical support services. They are widely used to operate online companies (website development, marketing services, auctions, web stores, etc.) and open international bank accounts. The General Partner can be any legal entity, including companies registered in tax-optimized jurisdictions.

Advantages of the Ontario limited partnership

  • A Canadian company with great international prestige.
  • No restrictions on the members’ residence.
  • There is no minimum authorized capital. Partners can make any contribution to the Limited Partnership.
  • Tax is not withheld on the profit received by the partners from foreign sources.
  • There are no requirements to file annual corporate tax returns.
  • There is no corporate income tax.

The Ontario Limited Partnership is not considered as an entity subject to taxation. Therefore, Limited Partnerships are not required to file corporate tax returns or pay income taxes. All profits that a Limited Partnership receives pass through the company to its partners. Members who are not Canadian residents do not have tax obligations in Canada whatsoever. If a partner is a Canadian resident, he must include his share of the earnings received through his Limited Partnership on his tax return and pay personal income tax. There is no withholding tax on benefits that are transferred to partners who are not Canadian residents. There are no audit requirements for Limited Partnerships.

General Partner
A minimum of one General Partner is required, who may be a resident of any country. Corporate General Partners are allowed. If a corporation is incorporated outside Canada, it must be registered in Ontario as an Extra-Provincial Corporation before becoming a General Partner.

Limited Partner
Limited Partnerships must have a minimum of one Limited Partner, who can be a natural or legal person. No residence is required in Canada. When a non-Canadian corporation is a Limited Partner, the Extra-Provincial registration of the corporation in Ontario is not required. A person can be a General and a Limited Partner at the same time in the same Limited Partner. Therefore, only one person is needed for the registration of a Limited Partner.

Capital contribution in the limited partnership 
A minimum or maximum amount of capital contribution is not required. Partners can contribute money and other assets to the Limited Partnership, but not services. The interest or equity participation of a partner in the Limited Partnership is considered personal property.

Personal  Responsibility 
General Partners have unlimited personal liability for the debts and obligations of the Limited Partnership. Limited Partners' liability is restricted based on the size of their contributions to the limited partnership.

The Limited Partnership is managed by General Partners unless the Association Agreement allows General Partners to appoint a manager.

Annual general meeting 
Limited Partnerships do not require annual general meetings.

Direction of the main business place 
The form confirming the registration form of a Limited Partnership must include the address of the principal
place of business in Ontario. The Limited Partnerships require to keep in their:
  • Business address
  • Membership records
  • Copies of all resolutions
  • Association Agreement. 

Our company provides addresses in Ontario to its customers and maintains all the Limited Partnerships of customers’ records. The address also accepts letters from the Ontario government.

Our experts offer clients a unique discounted package as follows:
  • A full registered Ontario Limited Partnership with documents 
  • Bank account
Total: USD 3400 USD 2800

After the registration is completed, we will work with several banks in order to get pre-approval for your business. The choice of the bank depends on thyour future corporation’seeds and activity, so we will get a professional consultation from our banking specialist to choosee the most suitable option.

Documents required to open a Limited Partnership: 
  • Proof of ID (international passport) - certified copy;
  • Proof of residential address (UB not older than three months) - certified copy;
  • Bank reference letter /bank statement
  • Professional reference
  • CV
  • Completed and signed KYC1 form and order form (drafts will be provided in due course).
Documents must be translated into English. 
Documents must be provided in good quality scans for review. 
In case any of the abovementioned documents cannot be provided, we are always open to alternative documents. 

Our company registers limited companies for 5 to 7 business days.
An Ontario Limited Partnership is an excellent option for your business. Contact us right now and we will set one up for you! 
Enquire now! 

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