Setup a Company in Canada - Easy Steps, Procedure
People who are familiar with the entire process, know that Canada company Formation is straightforward. You will be able to time and resources to another business channel with the help of YKG GLOBAL. Our team of experts will help you to gain seamless experience in the process of Foreign Company Setup in Canada.
The following things are available that you will require to set up a business in Canada:
- Canada company Incorporation
- Local company secretary and registered address
- Nominee Canada director services
- Opening a local or international corporate bank account.
- License applications
- Annual accounting and tax services
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- Within 2 weeks your company will be registered. after getting the due diligence documents of the directors and shareholders, our team will search for the availability of the required name and prepare all required documents for incorporating a Canadian Company.
- Overseas travel will not be required.
- After the registration, you will receive the document of your new company including the certificate of formation, memorandum, and articles of association as well as register of directors and shareholders.
- Within 4 weeks, we will open a corporate bank account with either a local or international reputable bank.
You can expect that within 6 months your company will be fully operational and ready for business.
DIFFERENCE BETWEEN PROVINCIAL AND FEDERAL INCORPORATION
- You can incorporate federally or in any 13 provincial jurisdictions. So, once you have chosen, you have a lot of questions, one is how to decide between federal and provincial incorporation.
- Provincial Incorporation: registering a company with the government of a certain province or territory in Canada is Provincial Incorporation.
- Federal Incorporation: the procedure of registering a corporation with the federal government of Canada
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Some key points when you choose between provincial and federal
PROVINCIAL INCORPORATION
- Registering a corporation with the government of a specific province or territory in Canada.
- Territory is subject to the laws and regulations.
- Operating within the province and territory in which it is registered is limited.
- Less complicated than federal incorporation.
- Helpful for businesses that plan to operate only within a specific province or territory.
FEDERAL INCORPORATION
- Canada Business Corporation Act (CBCA), a statute that sets out the rules for the incorporations, organizations, and management of corporations in Canada.
- Can operate and conduct business across Canada and internationally.
- Federal laws and regulations, as well as any applicable provincial laws must comply.
- Helpful for businesses that plan to operate nationally and internationally.
Types of companies in Canada:
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- CORPORATION (Limited Liability Company)
- GENERAL PARTNERSHIP
- LIMITED PARTNERSHIP
- CO-OPERATIVE
- SOLE PROPRIETORSHIP
Benefits of Company registration in Canada.
1. Stable Economy: Canada has a strong and stable economy and provides a secure environment for businesses to grow.
2. Access to Global Markets: Canada has trade agreements like the Canada-United States-Mexico Agreement (CUSMA), Comprehensive Economic and Trade Agreement (CETA), and others, businesses incorporated in Canada so companies can enjoy access to major markets globally.
3. Favourable Tax Structure: Canada has a competitive corporate tax rate compared to other countries.
4. Skilled Workforce: Canada has a highly educated and skilled workforce, making it an ideal location for businesses.
5. Access to Funding and Grants: The Canadian government provides a variety of government grants loans, and other funding programs.
6. Ease of Doing Business: The process of company incorporation and post-compliance in Canada is smooth and straightforward.
9. Multicultural and Diverse Market: Canada's diverse population creates a bright domestic market for a wide range of goods and services.
How YKG Global will assist you in Company Setup in Canada
End-to-end assistance: With YKG Global, you will get assistance from expert Chartered Accountants (CA) and Certified Practicing Accountants (CPA) who understand Canadian corporate laws and regulations. We handle the complete registration process and post-registration compliance with bank account support.
Online Process: You can Formed your company in Canada remotely and there is no need to visit Canada. At YKG Global, our team in Canada will handle the entire process, from due diligence and name reservation to obtaining incorporation certificates, tax registrations, and corporate bank accounts.
Fast & Transparent Timelines: Once all documents are received, our team will conduct due diligence and reserve your preferred company name. after the company incorporation, our team will provide you with complete registration documents, and certificate of incorporation, and other key documents.
We will assist you in opening your bank account within 30 days of incorporation, providing you with all required forms and support for KYC (Know Your Customer) processes.
Customized Solutions according to Business Activities: YKG Global advises you to choose the best company structure that suits your business needs, whether it is a Private Limited company, public company, sole trader, branch office, or representative office. Our expert will advise you through the legal and operational implications of each type.
Over Four Decades of Expertise: With over 40 years of experience and a global presence in more than 40 countries, YKG Global has a very good understanding of Canada's business Incorporation and compliance.
Global Connectivity and Strong Relationships: Our team has very strong relationships with banks and regulatory authorities enabling us to smoothen your entry into the Canadian market.
