Ontario Limited Partnership Registration for Non-Canadian Residents
Ecompanies Canada offers fast and easy Ontario limited Partnership registration for non-Canadian residents. An Ontario Limited Partnership is a simple form of business in Ontario, which creates a Canadian company. This form of business registration is extremely popular among foreign investors and global entrepreneurs because limited partnerships do not generate filing and tax obligations in Canada for partners, who are not residents of Canada.
Ontario Limited Partnerships (‘LP’) are increasingly used as vehicles for the conduct of international transactions and the holding of investments.
Formation of a Limited Partnership in Ontario
Limited Partnerships are formed in Ontario by filing an Ontario Form 3 Limited Partnership Declaration form with the Ontario Ministry of Government Services.
Advantages of Ontario Limited Partnerships
- A highly prestigious Canadian company
- Ontario Limited Partnerships have no restrictions on the residency of partners
- Ontario Limited Partnerships offers the possibility of a one-person limited partnership when one person is at the same time sole general and limited partner
- Ontario limited partnerships don’t require a minimum authorized capital. Partners can make any contribution to the limited partnership
- No withholding tax on profit received by partners outside of Canada
- Ontario limited partnerships are not required to file corporate tax returns
- No corporate income tax.
Ontario Limited Partnerships are not considered taxable entities. Therefore, Ontario limited partnerships are not required to file corporate tax returns and pay income taxes.
All profit received by Ontario Limited Partnerships passes through the company to its partners. Partners, who are not Canadian residents do not have tax liabilities in Canada. If a partner is a Canadian resident, he is required to include his part of profit received through his Limited Partnership into his personal tax return and pay personal income tax.
There is no withholding tax on the profit passed to partners, who are non-Canadian residents.
There are no audit requirements for Limited Partnerships.
Fast & Easy Ontario Limited Partnership Registration Service
Ecompanies Canada offers fast & easy Ontario limited partnership registration service. At Ecompanies Canada we help you step-by-step and take care of the entire business registration process from start to finish. Registering a new limited partnership in Ontario with us is fast, easy and takes just minutes.
Our Ontario Limited Partnership Registration service includes:
- Name Search Report confirming the availability and uniqueness of the name.
- Government Registration Fees.
- Registered Office Address for 1 Year
- Declaration Form 3 confirming registration of the Limited Partnership.
- Organizational Resolutions of the General Partners.
- Resolution Admitting of Limited Partner.
- Partnership Agreement.
- Register of General Partners.
- Register of Limited Partners.
- Courier Delivery.