Last updated on December 16th, 2019 at 01:34 pm
Can I register an LLC in Canada?
The LLC or Limited Liability Company is a form of business set up available in many countries around the world including the United States. This form of registration is not available in Canada as an entity.
What business set up is available to me in Canada?
- Incorporate in Canada or any of the Provinces – An incorporated company in Canada provides the following:
- Personal liability protection
- Business name protection for the corporate name
- Tax advantages if revenues are not solely required for individual directors/shareholders
- Credit availability
- Flexibility to make changes such as directors, addresses, corporate name, DBA under corporation
- Is continual and never requires renewal or re-registration
- Register a Sole Proprietorship or Partnership in any Province – A small business within any Province in Canada provides the following:
- Is valid for a 5 year period and requires renewal when each 5 year period ends.
- Personally liable
- Personally taxed
- Easy to set up and cancel
What if I already have a foreign corporation outside of Canada as an LLC and want to register it?
In the Province of Ontario, you can bring your existing LLC into the Province linking it to your existing foreign corporation by filing a Form 6. This registration works very similarly to the registration of a Sole Proprietorship or General Partnership. It is recommended you speak to your accountant or an accountant within Ontario as the tax implications may not be suitable. If you would like additional details on filing any of these items, please contact our office for further details.
To register a Form 6 LLP, please contact our office for details and filing.
Ontario Business Central has been supporting entrepreneurs and new business owners to establish their businesses across Canada since 1992. If you would like our assistance or have further questions to ask, please feel free to contact us.
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Ontario Business Central Inc. is not a law firm and therefore cannot provide a legal opinion or advise. This information is to assist you in understanding the requirements of an LLC. It is always recommended, when you have legal or accounting questions that you speak to a qualified professional before completing the incorporation.
Laura Harvey is an entrepreneur herself as the owner of Ontario Business Central Inc. Her passion has always been about supporting the entrepreneurial spirit and advancement within Canada.
Laura authors in-depth blogs for Ontario Business Central assisting entrepreneurs and business owners to start, manage and grow their businesses. She has almost 30 years of expertise as a corporate specialist and 25 years of being an entrepreneur. Laura has the unique position of supporting a community that she also belongs to. She walks the walk right along with you.
You can find Laura on Linkedin and Twitter.