Limited partnership
In order to form a limited partnership, you will need to file a certificate with the appropriate regulatory body. A limited partnership is a business with a single general partner and one or more limited partners. The general partners have unlimited liability, while the limited partners have limited liability. Limited partners can be Canadian citizens or non-residents. The registered office for a limited partnership must be in the province of registration.
Once your application is approved by the Registrar, your Limited Partnership will be established and operational. The declaration expires after five years, so make sure you file an updated declaration before that time. While there are no formal minimum capital requirements in Canada, it is recommended that each partner contribute at least $1,000 in capital to the new entity.
Another advantage of registering an LP in Canada is the opportunity to open a bank account in one of the world’s largest banks. As a result, your business will be able to access local banks and economize on taxes. Furthermore, your Canadian partner will act as the representative of the LP in the country of residence. This way, your Canadian partner will protect the privacy of the limited partner and the financial interests of the limited partners.
You can also register your partnership online. To register, you will need to submit your proposed partnership name and provide your photo ID. Then, you can upload supporting documents to the Registrar. Upon approval, you will receive a Certificate of Registration and Business Number from the Registrar of Joint Stock Companies. This process will take one to two weeks, depending on your local jurisdiction.
Cooperative
To operate a co-operative business in Canada, you must register your business with the Ministry of Public and Business Service Delivery. Forms and information are available on ServiceOntario. You may also want to incorporate federally if your co-op has more than one location. To register your business with the federal government, you must have at least three members who are over 18 years of age. You should also do a NUANS name search to ensure that the name of your business is available.
In Canada, you will need to register your co-operative under the co-operative act. The act governs how co-operatives are incorporated, and it applies federally, provincially, and territorially. This act also regulates the type of co-operative, you can establish. The Act specifies what kind of business you can form, and the type of co-operative you want to form depends on its nature and how it will operate.
Incorporation also gives your co-op legal recognition and rights under the law. This legal status helps your co-op raise capital and purchase assets. It also limits the liability of individual members. However, you can still operate as an informal co-op if you don’t want to incorporate your business. If you have chosen a name for your co-op, you should conduct a NUANS name search to confirm it is available.
The main difference between a cooperative and a regular business is that cooperatives are democratically-governed. There are many resources and support for cooperative development, and there are several organizations that help to guide you through the process.
Non-profit
Setting up a nonprofit business in Canada is similar to forming any other business, except there are specific requirements and legal obligations. As a nonprofit, you will be subject to more stringent accounting requirements and you must file specific documents to qualify for nonprofit status. These documents include the Articles of Incorporation, which must be completed in full and filed in English or French. The company must also have an initial registered office address, as specified in Form 4001.
The fees and processing time of incorporating a nonprofit organization vary depending on the province or territory. For example, in Nova Scotia, a nonprofit organization must pay a fee of $40, while an Ontario nonprofit organization must pay $150. You can check the website of your province or territory for details about fees and processing times. In Canada, you can also incorporate your organization on the federal level, creating a federal nonprofit organization.
A non-profit business registration in Canada involves filing a number of documents with the Corporation’s Registry. These documents may include business plans, financial statements, authorized number of directors, and restrictions. Once you have completed the required documentation, you will need to select the directors to oversee the organization’s activities. As a minimum, each director must be at least 18 years old and mentally competent.
The company name must be unique and distinctive in order to avoid conflict. A non-profit organization should also be free from any trademarks or infringement. When choosing a name, you should first check the availability of the name in the registry. Listed business names may be trademarked in other countries and may be subject to infringement.
Extra-provincial corporation
If you are planning to start a business in a province that is not your own, you will need to register as an extra-provincial corporation with the provincial government. In order to do so, you will need to complete a form and provide the constating instruments. If you are a foreign corporation, you will also need to submit your company’s information to the Registry of Joint Stock Companies in the province.
After submitting the necessary information, the next step in the process is to identify the foreign entity to which you want to transfer the extra-provincial corporation’s name. For this, you will need to provide the corporate number, the name, and the jurisdiction of the foreign entity. Foreign corporations often result from a merger or a similar process. In some cases, they are transferred to another jurisdiction but continue to do business under the same name.
To register as an extra-provincial corporation in Canadian provinces, you must submit copies of the corporation’s charter documents from its home jurisdiction. These documents must be certified true copies and have been stamped by a company official, notary public, or government official. If the charter documents are in a language other than English, you must provide English translations. You can also request a reference from a certified English translation service.
Before you proceed with the extra-provincial corporation registration, you should check whether the name you’ve selected is already available in Alberta. You may also need to file a NUANS report, which reserves the chosen name for 90 days. You must submit this NUANS report along with the registration details. If the name is already registered in a province, you do not need to file this report.
