Foreign investors considering establishing a new business in Canada increasingly are weighing the merits of registering their businesses in Canada as limited partnerships. Ontario Limited partnerships are used by business as a vehicle of choice for many purposes, including as vehicles for the making of venture capital and private equity investments. One of the major […]
Ontario Limited Partnership Accounting Process
In an Ontario limited partnership, Revenues, expenses, and cash flow management are all tracked internally with additional outside support for other accounting functions. Public reporting is not required. General-purpose financial information is needed to run the company and satisfy the needs of bankers, vendors, tax collectors, and the limited partners. We Register Ontario Limited partnerships in […]
Ontario Limited Partnership Operations
In an Ontario Limited Partnership, the company is run by a single general partner with majority ownership. An Ontario limited partnership has relatively few operational formalities, low-to-mid-range administration costs and clear rules for raising capital. We Register Ontario Limited partnerships in 24 Hours Company Formations offers Canada Limited Partnership Registration to Canadian residents and non-Canadian […]
Advantages of the Ontario Limited Partnership Structure for New Businesses
An Ontario limited partnership allows you to bring on investors without ceding control of your business. The general partner(s) deal with day to day operations and do not need to consult the partners for most business decisions. That being said, you will need to hold annual meetings and create a detailed partnership agreement. An Ontario […]
How Can You Start a Business in Canada as a Non-Canadian?
Are you a non-Canadian who has an established business in your own country and would like to start a business in Canada? Or are you a non-Canadian who would like to open a company in Canada? Then this article is for you. Starting a Business in Canada When You Already Have a Business Expanding into […]
Tax Treatment for Ontario Limited Partnerships
An Ontario Limited Partnership is considered a disregarded or ‘flow-through’ entity for Canadian tax purposes meaning that all profits/losses pass directly through and is attributed to the partners. Where the Limited Partnership is engaged in trade or business outside of Canada and the partners are non-Canadian residents, there will be no Canadian income tax arising […]
About The Partnership Agreement in an Ontario Limited Partnerships
When forming a new Ontario Limited Partnership, it is recommended that a partnership agreement, which is private between the partners, is entered into in order to set out the business activities of the Ontario Limited Partnership, the role and responsibilities of the partners and the manner by which partnership profits are drawn / losses allocated. […]
About Limited Partners in an Ontario Limited Partnerships
In an Ontario Limited Partnership, The Ontario Limited Partnership must also have a minimum of one Limited Partner, which may be an individual, corporation, trust or private foundation and need not be a Canadian resident. US Trusts are commonly used to good effect in this role. The Limited Partner details are not publicly disclosed and […]
About General Partners in an Ontario Limited Partnerships
In an Ontario Limited Partnership, “Ontario LP” The General Partner manages the affairs of the LP and will be liable for any debts of the LP. The General Partner will represent the LP in dealings with third parties. Natural persons, corporate entities and Trustees of Trusts may serve as General Partner. Where the General Partner […]
About Canadian Limited Partnerships
A Canadian LP will be formed through filing a declaration with the Registrar and based on the requirements of the province of Ontario, the following is an outline of the information to be disclosed (other provinces may have additional disclosure requirements): Name and address of the LP; Name and address of General Partner and General […]
