Canada is a vast country, North of North America. It borders the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north. Economically and technologically, the nation has developed in parallel with the United States, its neighbour to the south. As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the United States in its market-oriented economic system, pattern of production, and affluent living standards. The country’s petroleum sector is rapidly becoming an even larger economic driver with Alberta’s oil sands significantly boosting Canada’s proven oil reserves. Canada is in fact ranked third in the world behind Saudi Arabia and Venezuela. The United States absorbs about three-quarters of Canada’s exports each year. Given its great natural resources, highly skilled labour force, Canada enjoyed solid economic growth from 1993 through 2007. CompanyRegistrationsWorldwide.com can assist you in setting up a company in Canada.
There are two types of incorporation in Canada; provincial and federal incorporation.
Provincial Incorporation – what are the main features?
- When you incorporate your business in a particular province or territory, you are only entitled to operate your business in that jurisdiction and have no name protection outside that province or territory
- If you plan to be operating primarily within one province, provincial incorporation may be sufficient
Federal Incorporation – what are the main features?
- Federal incorporation gives your business increased business name protection and wider rights to carry on business
- Federal incorporation of your business means that you will be able to do business all across Canada under the same business name, even if some other company is already using a similar name in some province or territory
- If you choose federal incorporation, you will need to register your business in any province or territory where you carry on business
- Federal incorporation will involve more paperwork every year, as you will need to comply with the corporate filings required by the federal Director of Corporations Branch and all filings required by the provinces that your corporation is registered in
- Federal incorporation may cost more
- Federal incorporation can be an excellent choice if your business needs the nation-wide business name protection that federal incorporation provides, or if your business is or will be operating internationally
Contact CompanyRegistrationsWorldwide.com for more information on setting up a company in Canada.