Canada, which extends to the north end of the [North] American continent, is the second largest country in the world and is composed of ten provinces and three territories. The country is industrialized and technologically well equipped, and its development is based on its many natural resources.
An onshore centre
The establishment of an offshore company requires no minimum capital and, depending on the region, it is not even necessary to have a resident member in the country. Extra-provincial companies are not taxable if they have no activities in the country. Only two provinces have the offshore characteristic of a tax of 5%.
The minimum wage again depends on the province, but the average annual salary is estimated at 38,998 CAD.
Taxation in Canada by Fidusuisse
In Canada, corporate income is taxed at 5%; long-term capital gains are included in the calculation of taxable profit. It is possible to have tax deductions on general expenses and company training, as well as on fixed assets. It is possible that some cities will impose a business tax. The rate applied is at their discretion. With Fidusuisse Offshore help you can easily navigate in tax environment of Canada and find the best solutions for your business.
Canadian accounting standards were introduced by the Canadian Accounting Standards Board of the Canadian Institute of Chartered Accountants. Annual accounts are based on Generally Accepted Accounting Principles (GAAP).
The tax year runs from 1st January to 31st December, it is nevertheless possible to define one’s own tax year when creating the company. Companies, other than banks, insurance companies and public bodies, must follow CICA guidelines.
Canada is a member of World Trade Organization and the OECD, signatory of the Kyoto Protocol, the Washington Convention, the Basel Convention and the Montreal Protocol. The country is part of NAFTA, the NACC, OAS, the Commonwealth and APEC.
The country’s imports are regulated by the Canada Customs Act which states that the vast majority of goods do not require any approval, based on a much liberalised trading system.
Creating a Company
Fidusuisse offshore company has many advantages: among other things, it enables assets to be protected by consolidating assets held in several countries under the name of an offshore holding company. The legislation of the country where the holding company is based will apply to all assets in the event of death. It is also possible to transfer assets to this offshore company to avoid problems (confiscation, commercial litigation, disputes, etc.): this is the principle of Asset Protection.
A Ready-Made Company or Shelf company is a pre-registered company that is ready to start operations. Choosing a Ready-Made at Fidusuisse company reduces the time it takes to setup a company in the country. A Ready Made company is a new company, whereas a Shelf company has existed for at least one year, which makes it possible to benefit from enhanced commercial credibility.
At Fidusuisse we handle your bank account opening in Canada, so there is nothing you can worry about. Whether for private account of offshore accounts within 15 days including the bank relationship, filing of forms and liaising with the bank.
Fidusuisse Offshore offers you a virtual office service allowing you to create real credibility and become a commercial reality. You will be able to conduct your offshore company’s business in the most effective way.
The importance of a virtual office
When you create an offshore company, it is essential to have a phone number in your destination country. It provides real credibility and promotes confidence in your business transactions with your clients. Fidusuisse Offshore can provide you with a telephone number for any country in the world and even offers you a telephone to manage your business.
Company Management is a service aimed at persons not wishing to have to manage their business on a daily basis and who wish to entirely delegate the management. Under a contract regulated by Swiss law, we manage the company on your instructions, maintaining commercial relationships, orders, regulations, accounting, audit and annual reports.
International contracting is frequently used by offshore companies to facilitate transactions with foreign partners. In fact, this method makes it possible to solve logistical and fiscal constraints applicable to transactions.
Trusts and foundations
The advantage of a Trust is that it optimises tax benefits for the Settlor’s assets, in accordance with the tax laws of the country in which the Trust is registered, while the Settlor can reside in another country. It is also useful for transferring assets while avoiding taxation, and in determining the assets owned by several companies.
Fidusuisse Offshore can provide you with the expertise necessary to set up your Foundation. A foundation makes it easier to manage your affairs. This structure can be created in most countries, and fully customized through the use of By-Laws.
Fidusuisse Offshore is putting its experience and expertise at your disposal so that you can successfully carry off your fiscal expatriation plans. Our main destinations are Belgium and Switzerland.
Contact Fidusuisse Contact
ServicesBanking Services Company Formation Corporate Services Trust Management
CoverageBelize British Virgin Islands Canada Cyprus Dubai Hong Kong Latvia Luxembourg Malta Ras Al Khaimah Switzerland United Kingdom
118, Rue du Rhône
1204 – Geneva, Switzerland
Tel: + 41 22 518 03 40
Fax: + 41 22 518 07 84
79, Avenue de la Toison d’Or
1050 – Brussels,
Tel: + 32 2 400 78 00
Fax: + 32 2 808 64 71
The Lee Gardens,
33 Hysan Avenue,
Causeway Bay, Hong Kong
Tel: + 852 580 80 599
Fax: + 852 580 80 582
Sterling Tower, 10th Floor,
14, Poudriere Street,
Port Louis, Mauritius
Tel: +41 22 518 20 19