Entrepreneurs intending to do commercial activities in this state can register and establish a separate project on their own, or purchase a Canadian ready-made company. This structure will already be established, nevertheless, before it might not conduct business and now has a completely clean operating history. Any entrepreneur who wants to interact with the Canadian market may turn to this variant.
As we have already indicated, Canadian ready made company – a company with completed registration. Thus, in purchase of this structure to interested entrepreneurs, it will comply with all necessary requirements that are put forward as part of regulation of Enterprises Act in Canada and the conduct of their commercial transactions. As a rule, shelf company in Canada passes to a new owner in conjunction with the following:
Ready companies in Canada have the status of an officially identified taxpayer. Another thing to mention is most of the organizations established in previous years and earlier were certified in the form of corporations. LLC isn’t popular in this jurisdiction.
At the request of the new owner and if such a need arises, appropriate modifications can be made to company’s documentation, composition of management and shareholders, etc.
Such an option as for sale shelf company in Canada is accessible to any person, regardless of his/her legal status. However, more often this way of getting a business is of interest to individual entrepreneurs wanting to conduct commercial activities independently and without intermediaries.
The procedure for acquiring a ready-made company does not involve any special nuances and is quite simple to implement. This is arrangement between buyer and vendor, which is subject to notarization and signed by parties of the transaction. In addition, it will be necessary to contact the Commercial Register to make some modifications.
Speaking about opening business, it should be noted this aspect in Canada involves several separate features for European capitals holders. Essential point concerns enterprise registration that may be provided at provincial and federal levels. Entrepreneurs may purchase organizations registered at one of mentioned. Registration type determines the nature of changes needed to be made to the structure and documentation of the enterprise.
Canada is a member of the double taxation treaty, an agreement that has been concluded with more than 90 countries. Thus, non-residents can open several types of firms in the jurisdiction. In Canada, income tax was reduced to 5%; in some provinces, this indicator is 0.
The ability to enjoy tax privileges requires presence of a shareholder with residence of the jurisdiction. At the same time, the company must conduct its activities outside the country. In addition, after registration, the firm must keep accounts, however, without disclosure to local authorities. VAT is imposed on transactions that are carried out in Canada: 5-15% depending on the location.
Shelf company in Canada may have some operational experience and professional background. Thus, you can get a business with a prestigious image and close partnerships with local banking and other establishments. Additionally, commercial projects already established and proven themselves in the market cause more confidence among potential clients and partners.
Among other things, ready structure doesn’t have debt obligations, any other controversial characteristics and has a ready-made tax number. Thus, launching business in Canada through a ready-made company is a fairly simple and quick way, choosing which, an entrepreneur will be able to start his activity in this market as soon as possible. We recommend that you enlist the help of experts in this field who may provide you with full advice and professional support.