Main pageLow-tax companiesCompany registration in Canada

Company registration in Canada

In Canada it is possible to register extra – provincial corporation (EPC) in the city of Calgary, province of Alberta. These companies per se are branches of the foreign companies. Thus, registration of the EPC means registration of two companies at once: the parent company (usually classical offshore jurisdiction, such as Belize, Seychelles, etc.) and affiliated EPC in Canada.

The capital of the EPC coincides with the capital of the parent company of which it was formed. There is no requirement for paid-in capital.

The name of the EPC has to end with “Limited”, “Incorporated”, “Corporation” or their abbreviations ” Inc.”, “Corp.” and “Ltd.”. The name shall not contain the words “Bank”, “Insurance”, “Trust” which demands a specific license.

At least one director should manage the company. Directors can be only natural persons- residents of any country. Owners of the company may be both natural and legal persons – residents of any country. The minimum number of owners is one. The secretary may be appointed as well but it is not a rule.

Information on the real owner (beneficiary) of the Canadian EPC is confidential and stored at the registered agent. Data on shareholders are stored at the registered agent and in the Register of Companies.

Taxation of Canadian EPC

Since EPC is not a tax resident of Canada, Agreement on avoidance of the double taxation signed by Canada is not applicable to this type of company. Companies, which do not conduct any business activity in the territory of Canada, do not fall under Canadian tax system.

Accounting and Audit of Canadian EPC

Each 12 months, since date of registration of the company, it is necessary to submit filled in form of a revenue (Annual Return). It is not required to prepare and submit financial statements. To carry out audit is not required as well.

Nominee service

For a Canadian EPC it is allowed to appoint nominal directors, shareholders and secretary.

Opening a bank account for Canadian EPC

The account for a Canadian EPC can be opened in any of our partner banks. It is important to keep in mind that every bank account opening procedure is individual and depends on the accuracy and timeliness of information and documents provided by the client.