The advantage of incorporating one's business federally is the ability to carry on business across Canada (local registration may still be required). In addition, the names of the federal corporations are protected in all provinces and territories under the Canada Business Corporations Act (CBCA).
Federal numbered corporations will have the word "CANADA" as the name part.
FEDERAL CORPORATION FACTS:
- Provincial Registration: YES, Must be registered in the province or territory where it carries business
- Corporate tax: YES
- Corporation income tax return filing: YES
- Annual return filing requirements: YES
- Names disclosure in public records:
- Shareholders - NO,
- Beneficial Owners - NO,
- Directors - YES
- Non-resident directors: ALLOWED (25% of directors with a minimum of one must be Canadian residents)
- Standard Share Capital: UNLIMITED SHARES WITHOUT PAR VALUE
- Bearer shares: NOT ALLOWED
- Registered Office Required: YES, must be in Canada
- Corporate Suffixes: "Limited", "Limitée", "Incorporated", "Incorporée", "Corporation" or "Société par actions de régime fédéral" or the corresponding abbreviation "Ltd.", "Ltée", "Inc.", "Corp." or "S.A.R.F." must be part of the corporation name
FEDERAL INCORPORATION SET:
- Certificate of Incorporation
- Articles of Incorporation
- NUANS Search Report
- Share Issuance Resolution
- Share Certificate(s)
CORPORATE TAX RATE:
Federal Corporate Income Tax: 11%* and 16.5%** higher rate
Provincial or territorial corporate tax rate: varies from province to province
* For Canadian controlled corporations after the small business deduction
** Federal Corporate Income Tax Higher Rate Reductions:
- 15% effective January 1, 2012
The federal incorporation procedure is completed within 1-3 business days. Electronic corporate documents are sent to the client shortly thereafter.
Please contact us to obtain additional information or to place an order.
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