Starting LLC in Canada for a newly approved PR: Steps Please? Experience? Delays

[dream16]

Hello Folks,

I am in the process of receiving my Canadian PR and want to establish my LLC in Canada, can any of the experienced members kindly share their insights regarding the same:

I can consult a CPA/Attorney to get all this done but would prefer to have some knowledge handy before proceeding. LLC will be an Information Technology Firm

1. Similar to USA, LLC will have to obtain FEIN#. What are the steps for that?
2. LLC would require registration with a specific province? Any 1st hand experiences of provinces that favors new business in Canada? Some provinces might have a much higher tax obligation and other fees than others.
3. What all docs/formalities needs to be completed to set up my LLC bank-account?

Please note: I will be physically present on the canadian soil to get all of this done....especially #3 because of bank's security/fraud concerns.

Thanks for taking out your time to help.

 

[AnalogKid]

Looks like everyone is busy finding a job lol. Any updates on the llc setup?

 

[torontosm]

Looks like everyone is busy finding a job lol. Any updates on the llc setup?

Setting up a company in Canada is extremely easy, and can be done in 15 minutes over the Internet. Try using a service provider (e.g., www.apintertrust.com) who will handle all the paperwork for you.

 

[spyro02]

There is no LLC in Canada. But if you already have an LLC set up in the states, e.g. in Delaware, then you can register it to do business with a Canadian province. Otherwise you have to incorporate a Canadian or provincial corporation.
Foreign registrations have to be done with the relevant province. For example, if you will move to Ontario soon, you have to file Form 6 with the Ontario Property Security Branch.
For a Canadian corporation, you best go directly to Corporations Canada at corporations.gc.ca so you will only pay the minimum required government fees. In Canada, it is not necessary to go through a third party and not advisable because they charge their own fees in addition to the government fees and Corporations Canada already makes it very easy with online submission and standard clauses.
It's a different matter in the States, where no standard forms are used and everything has to be filed on paper causing hassle and legal uncertainty, so Harvard Business Services is actually a really good deal for Delaware LLCs. Again, in Canada, that is totally different.

In Canada, FEINs are called Business Number (BN) and they consist of 9 digits in the form xxxxx-xxxx. The BN is usually followed by the account type, e.g. RC for corporate income tax, RT for sales tax, RM for import/export, or RP for payroll; followed by a 4 digit reference number, e.g. 0001. I don't know which business would need 9999 income tax accounts but aside from that the system makes sense.
When you incorporate federally in Canada, the BN is automatically created within a week from approval. If you have a Delaware LLC, you need to register separately with the Canada Revenue Agency for a non-resident account by filling out the BN registration form and sending it to the appropriate non-resident tax office.

 

[rhcohen2014]

as stated above, there is no LLC in Canada. there is only sole proprietorship, partnership or corporation. in Ontario, any business that is using a business name must be registered with the provence, and as mentioned above it is very easy to do. just go to the service Ontario website, and find the links for business. In Ontario, If you intend to make 30,000 or more in a year (no matter where you customers are), then you MUST register for an HST number, collect 13% HST from every customer, and remit it back to the government. You can apply for an HST number by calling the CRA.

also, depending on where you land, you will want to look up small business associations that are run by the city and/or provence. I know in Ottawa, Invest Ottawa is a great resource for starting up businesses in the area.