Determine the kinds of professional liability and commercial insurance coverages, the limits and the deductibles that are appropriate for the partnership. These should be reviewed annually/periodically. Consider an obligation on each partner to purchase a stipulated amount of term insurance on the life of the other partners sufficient to fund in whole or in part the partner’s obligation to purchase the interest of the deceased partner. An agreement of the partners to consent to and facilitate obtaining such insurance may be desirable. Consider if any professional liability insurance applicable to a departing or deceased partner needs to be maintained for some future period of time following such departure or death.
Advantages of Limited Partnerships in Ontario
Highly prestigious Canadian Company No restrictions on the residency of partners Availability of one-man limited partnership, when one person is a sole general and limited partner
There is no minimum authorized capital. Partners can make any contribution to the limited partnership
No withholding tax on profit received by partners outside of Ontario
No requirements to file corporate tax returns
No corporate income tax.
Our fee to register a new LP in Ontario is $2000 CAD all inclusive.
Our service includes:
Name Search confirming uniqueness of the name
Government registration fee
Registered office address in Ontario for one year
Declaration Form 3 confirming registration of the Limited Partnership
Organizational Resolutions of the General Partners
Resolution Admitting of Limited Partner
Register of General Partners
Register of Limited Partners
For more information about our Ontario Limited Partnership Registration Services, please contact us using the form below: