Benefits
- 0% Canada tax for non-resident partners, with no business activity in Canada
- No Canada corporate or income taxes, with pass-through tax status
- Receive CAD, USD bank account details by opening a Wise Business account remotely
- Eligible for Stripe payouts in CAD or USD within 7 business days, and PayPal Business account
- Sell on Amazon Marketplace and other e-commerce sites
Compliance Obligations
- Must file annual return with province of registration
Formation Requirements
- Minimum of 1 general partner, 1 limited partner required
- Unlimited liability for general partner(s), limited liability for limited partner(s) if they do not participate in the management of the partnership
- General and limited partner(s) may be the same natural or legal person.
- Possible to shield the ultimate owner from liability by using corporate partners
- Must provide registered office address and agent in province of registration