Canada is a member of the OECD and yet a small “tax haven” through the advantageous Ontario Limited Partnership. The Ontario LP, which is similar to a limited partnership and also comparable to the American Limited Liability Company, is not only great for the e-commerce business but is extremely versatile. The extension to the company name is basically “LP” or Limited Partnership. An LP consists of a general and a limited partner who may be the same person in this particular case.
With the Ontario LP, you can lead your business to a reputable business address like Toronto in the most populous Canadian state. The business location Canada has an internationally recognized reputation.
In Canada, where the Ontario Limited Partnership invariably operates outside of Canada and fully generates all foreign revenue, Canada incurs both the direct tax liability of the Company and the on-going bookkeeping and annual accounting obligations. There is only a storage obligation.
There is no minimum capital requirement. In addition, the legal framework, the questions of liability and various regulations regarding the withdrawal of profits can be designed in such a way that it meets the individual requirements and wishes of the partners. By transferring your residence, for example, to Cyprus (EU), you can also reduce your personal tax burden enormously. The team of the Business Center Zug will also provide you with expert advice on matters relating to your relocation in the EU or in Switzerland!
The opening of the account for the Canada Ontario LP is easily possible outside of Canada, provided that the required due diligence is successfully completed.
For the price of a low-cost offshore company, Canada offers the LP a coherent package that should be enjoyed by many self-employed and small business owners.
Make an appointment for a personal conversation in the Business Center Zug!