Set Up LLP in Canada
Our company offers registration of Limited Liability Partnerships in British Columbia, Canada for non-Canadian residents.
Limited Liability Partnerships are a simple form of business registration in Canada, which creates a Canadian company and does not generate filing and tax obligations in Canada for partners, who are not residents of Canada.
This form of business registration is extremely popular among software developers, web programmers, computer support specialists and IT service providers, who offer services to customers in Canada, US and Europe.
The British Columbia Limited Liability Partnership Package for Non-Residents includes the following documents and services:
Name Search confirming uniqueness of the name
Government Registration Fee
British Columbia Name Reservation Report
Registered office address in British Columbia for one year
Registration Form 1 confirming registration of the Limited Liability Partnership
Organizational Resolutions of Partners
Register of Partners
Advantages of a British Columbia LLP
Highly prestigious Canadian company
No restrictions on the residency of partners
Information regarding partners is not filed with the registry
There is no minimum authorized capital. Partners can make any contribution to the limited liability partnership
No withholding tax on profit received by partners outside of Canada
No requirements to file corporate tax returns
No corporate income tax
Information about British Columbia LLP for Non-Residents
- Regular trading company for doing business in Canada, US, EU and other highly regulated jurisdictions
- Agent working under Sales Agency Agreement. Principal may be any legal entity including companies registered in low and zero tax jurisdictions
- Software development and IT support services, when major customers are located in Canada, US and EU
- Online based businesses (website development, marketing services, auctions, webstores, etc.)
A Limited Liability Partnership is not considered a taxable entity. Therefore, an LLP is not required to file a corporate tax return and pay income taxes.
All profit received by LLP 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, they are required to include their part of profit received from the LLP into their 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 Liability Partnerships.
A partnership that carries on a business in Canada, or a Canadian partnership with Canadian or foreign operations or investments, has to file form T5013, Statement of Partnership Income, for each of the fiscal periods of the partnership where, one of the following occurs:
• at the end of the fiscal period, the partnership has an absolute value of revenues plus an absolute value of expenses of more than $2 million, or has more than $5 million in assets
• at any time during the fiscal period:
– the partnership is a tiered partnership (has another partnership as a partner or is itself a partner in another partnership)
– the partnership has a corporation or a trust as a partner
– the partnership invested in flow-through shares of a principal-business corporation that incurred Canadian resource expenses and renounced those expenses to the partnership
Each British Columbia LLP must have a distinctive legal name.
A partnership name should include a distinctive element(unique or coined word 5 to 12 characters in length), a descriptive element(a word that describes the business activity) and a legal element, such as “Limited Liability Partnership” or “LLP”.
Example: Alterspeed Consulting LLP
A minimum of two partners is required, and may be a resident of any country.
Corporate partners are permitted.
Our company registers British Columbia LLP’s in 2 to 4 weeks.
Name approval by the BC registry takes an additional 10 – 15 business days; however expedited services are available for an additional fee making it 1 – 2 business days. We are also able to offer expedited registration for the LLP for an additional fee making the process approximately 2.5 weeks.
No minimum or maximum amount of contribution is required.
Partners may contribute money and other property to the LLP, but not services.
Interest of a partner in the LLP is considered as personal property.
Each partner is responsible only for his or her own liabilities. It makes partners more fully accountable to their clients or customers and ensures that all partners can engage in their business without the concern of having their personal assets at risk, unless there is negligence or wrongdoing.
LLP’s may be managed by the partners, unless the partners prepare a resolution that appoint an individual to act as a manager.
The form confirming registration of a LLP must include its address of principal place of business in British Columbia. LLP’s are required to keep at its British Columbia address records of its partners, copies of all resolutions, and the Partnership Agreement.
Our company provides the British Columbia address to its clients and maintains all records for clients’ LLP’s. The address also accepts letters from the BC government.
When a client would like to receive letters sent by his banks, customers and suppliers at the BC address, they must order our virtual office services.
The annual fee is payable from the second year.
The fee includes registered/records office address for one year, government fee and filing of the annual report with the government.
Our company scans letters received for your company and forward copies via email. We shred the originals unless you request to forward them to you via courier or registered mail for an additional fee. If you expect more than 30 letters annually, please contact our company to receive a quotation.
If you need a dedicated Canadian phone line with voice mail greeting of your company, we are able to provide it to you. To get a quotation, please contact our company.
Virtual office services are available to our clients, who use our registered/records office address in British Columbia.