Are you interested in creating a unique business structure involving a Canadian Limited Partnership (LP) with a US INC as the General Partner, along with Limited Partnerships? In this comprehensive guide, we’ll break down the costs associated with forming and maintaining this structure. Additionally, if you are a Mexican national, we will discuss compliance with Mexican legal requirements, specifically regarding the need for a non-Mexican manager for the INC.
Exploring the formation and maintenance costs of a Canadian Limited Partnership (LP) with a US INC as the General Partner is a crucial step in your business planning. This setup offers various advantages, but it’s essential to understand the financial aspects involved in its establishment and ongoing operation.
Setting up a Canadian Limited Partnership (LP) with a US INC entails several steps and associated fees. Below, we provide a breakdown of these costs:
LP Registration Fee: The registration of a new Limited Partnership in Ontario, Canada, involves a fee of USD $1,970. This comprehensive package includes essential services such as an Ontario registered agent and an Ontario business address, both valid for a period of 5 years.
US INC Registration Fee: To include a US INC as the General Partner in your Ontario LP, you will need to register the US INC in Ontario, incurring an additional fee of USD $500. This brings the total fees for both processes to USD $2,470.
Required Information for US INC Registration
To successfully register your US INC, you will be required to furnish the following details:
State of Registration
Certificate of Registration
Certificate of Good Standing
Annual Maintenance Costs
After the initial setup, it is essential to factor in the annual maintenance costs for your business structure:
Corporate Annual Return Fee for US INC: The only annual fee you need to consider is the corporate annual return fee for the US INC Company, which amounts to USD $150.
Additional Information for LP Registration
During the LP registration process, you will need to provide specific information, including:
Proposed LP Name
Intended LP Business Activity in Canada
Details of the General Partners, including names and addresses
Information about the Limited Partners, including names and addresses
Both the US INC registration and LP registration processes typically have a processing time of 5 business days.
For your convenience, payments for these services are commonly accepted via Bank Transfer.
In conclusion, the establishment of a Canadian Limited Partnership (LP) with a US INC as the General Partner and Limited Partners can offer various strategic advantages. However, it’s crucial to have a clear understanding of the formation costs, ongoing maintenance expenses, and the requisite information for a smooth process. Should you require further guidance or have additional questions, please reach out to the professionals who recommended this structure. They are available to provide the necessary support and expertise to ensure your business setup is successful.
Please note that the information provided is based on the described scenario and may vary depending on individual circumstances and legal requirements. It is advisable to consult legal and financial experts for personalized advice and guidance.
How to Contact Us
If you have any questions regarding the formation and maintenance of a Canadian Limited Partnership (LP) with a US INC or need further information related to this business structure, please don’t hesitate to contact us using the form below. Our experts in this field are available to assist you and provide the guidance you need
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