When incorporating, you must look at the law in the country, in British Columbia is common law law. Common law is a good legal foundation for your company. Electronic signatures are permitted.
The country code CA is for British Columbia and the most common legal entity structure in British Columbia is a Corporation.
When setting up, budget about 1 week to setup a Corporation in CA. The types of cash you can use to fund your company is often CAD and Any legal currency.
Yes, one is allowed to re-domicile a Corporation from CA. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a Corporation in CA by yourself. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is encouraged, up to 71% of the total shareholding.
There is a requirement to have at least 3 directors. Moreover, corporate directors are permitted. Directors are disclosed publicly. There is a requirement to have annual meetings of shareholders.
A registered agent is normally required, which means the company will have to pay a fee on a yearly basis, for a legal services company which can receive a service of process on behalf of the business. However, a corporate secretary is also mandated by the government.
There is a requirement to file accounts to relevant authorities. Consequently, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Canada, Industry Canada. Shareholders are disclosed in the Industry Canada.
Typically companies take 1 week to setup and there are 3 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Canada is a good option and have given it a score of 75 as an IO score, using the Incorporations.IO proprietary formula.
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