Canadian Federal Company Company Formation
In Canada a company can be incorporated at either a federal or a provincial level. Federal incorporation allows a business to trade overseas and in any Canadian province whereas provincial incorporation allows a business to trade internationally and only in the single province in which it was incorporated
Formacompany has over 20 years’ experience incorporating in Canada and our staff will be happy to advise you on which level of incorporation would best suit your business needs and guide you through the incorporation process that is most appropriate.
Company names must be in English or French. If incorporating federally a NUANS report is required and this must be submitted when applying for a company name.
All Canadian companies must have a registered office, which must be a physical address in Canada. This is where company documents may be legally served and where company registers must be kept.
Only one director is required, however, at least 25% of the directorship must be held by a Canadian resident. This means for single director companies the director must be resident in Canada.
Only a single shareholder of any nationality is required and a maximum of 50 shareholders is allowed. An annual general meeting must be held within six months following the year end, with no more than 15 months between meeting dates.
There is no minimum share capital for a Canadian company.
All companies are required to file an annual return. Companies are also required to produce annual financial statements that should be presented at the annual general meeting. Financial statements do not need to be filed with the authorities but are instead kept at the registered office where they must be available for public inspection on request. Private companies may opt to not appoint an auditor, if voted for by the shareholders.
It takes approximately two weeks to incorporate a Federal Canadian Company.
Proof of Identity
As part of our due diligence we require proof of identity in the form of a passport copy for all directors and shareholders of the company.
As one of the directors must be resident in Canada it is not necessary