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 […]
Restrictions on Ontario business names
When choosing your business name, remember that certain words or expressions cannot be used. Words or expressions, in any language, that are obscene or objectionable in nature. Words that imply the business is a different type of organization. For example, you may not imply that a sole proprietorship is a partnership. You may not use […]
Choosing an Ontario business name
Choosing the right name for your new business is an important decision. You want a name that will draw potential customers, help clients identify your company and build your business image. A name that is easy to remember and provides information about the products or services you offer is always a good choice. Choose a […]
Penalties for not registering a Business Name in Ontario
Under the Business Names Act, fines of up to $2,000 can be levied against individuals and up to $25,000 for corporations for failure to register or for registering false or misleading information. Ontario Business Name Registration in 1 Hour $39.99 Company Formations simplifies to the maximum the task of registering a new sole proprietorship business […]
Liability of Business Names in Ontario
The registrant of a business name who has suffered damages because someone else has registered the same name or one that is deceptively similar can take legal action through the courts. The Business Names Act entitles you to recover compensation for damages suffered and provides for a court order cancelling the registration that was the […]
