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registration of legal entity

Стоимость регистрации Стоимость со второго года Количество директоров Налог на прибыль Оплаченный УК Бухгалтерская отчетность
1868.00 USD 1500.00 USD 1 4.00% 0.00 Нет

Company registration in Nova Scotia

nova_scotia.jpgRegistering a company in Canada is a popular service for experienced entrepreneurs and corporations, as well as for small but growing companies.

Almost all types of businesses in Nova Scotia are listed in the Register of Joint Stock Companies in the province.

According to the law, all companies other than New Brunswick corporations and NB partnerships/names of organization registered in New Brunswick, persons and partners using their names without a descriptive element or such word combination as “and Associates”, which activities include agriculture or fishing, should be registered. 

Legislative norms 

Organizational and legal forms to register a company in Nova Scotia:

  1. Name of an organization, functioning on behalf of a Limited Company. If LP company prefers to work under a name other than a legal one, it must be registered.
  2. Co-operative. It is a business owned and operated by users with a minimum of three founders. It can be commercial/profit one and non-commercial/non-profit one.
  3. Extra-Provincial Company is a corporation registered outside the jurisdiction
  4. Incorporated Company is a business with one or more shareholders.
  5. Partnership is a business organized by one or more persons or corporations. It implies potential liability of each partner for all the debts of an enterprise.
  6. Society. It is a non-profit organization, which activities are regulated by the Law "On Societies".
  7. Sole Proprietorship. Offshore zones of Nova Scotia are increasingly attracting individual entrepreneurs. SP is a form of business managed by one person, under a name different fr om his/her name or surname. It can also be called “A Partnership of One”. 

The laws governing registration of a company in Nova Scotia:

  1. Co-operative Associations Act.
  2. Corporations Registration Act.
  3. Partnerships and Business Names Registration Act.
  4. Societies Act.

There are no requirements for payment of minimum authorized capital.

A company in Canada can documentarily or actually file financial statements. In the first case, income and expenses are indicated, regardless of the fact of making payment under contracts concluded. The second form of submitting the reporting is based on real payments.

Reports are filed even if there are no sources of profit in the country.

TAXATION IN NOVA SCOTIA

Taxation system as of 2019:

  1. Income tax: federal - 15%, municipal - 16%.
  2. Value Added Tax. Federal Rate is 5%, Nova Scotia VAT rate is 10%.

Companies pay taxes according to a two-tier system, but small firms are allowed to file a report once a year.

Particular advantages of having your company in Canada:

  • ability to simplify the process of purchasing goods from the EU;
  • non-problematic export to Russia or Ukraine.
  • chance to obtain a residence permit.

Small enterprises pay small business tax: 9% - federal rate, 3% rate of Nova Scotia.

Company in Nova Scotia: what is a BN

In order to simplify the interaction of a business with the government, the jurisdiction adopted a Business Number (BN) as an identifier of a company. BN is assigned by the Canada Revenue Agency. 
Nova Scotia BN identifier consists of 15 digits (BN15):

  • 9-digit number (BN9) assigned by the CRA;
  • 2-character program identifier (for which a business is registered);
  • 4-digit serial number of accounting record.

Advantages of having a BN:

  1. Fewer numbers/digits/characters to remember.
  2. It is not so often necessary to enter basic information about a company.
  3. Simplified, more convenient access to public services.

A number is provided after an offshore in Nova Scotia is registered in the provincial registry.

The same number is used for various licensing, permissive and registration programs under other regulatory enactments in accordance with the rules for regulating the filing of electronic applications.

 

Where to apply to register a company in Nova Scotia

The Government of Nova Scotia provides an opportunity to register a business online (partnership or sole proprietorship), but competent lawyers should be involved in the collection and preparation of documentation. In order to professionally, legally and successfully register an offshore company in Nova Scotia, contact Law&Trust International. 

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General information
Square55 284.00
Population942 506.00
CapitalHalifax
Unemployment15.30
State polityconstitutional monarchy that is also a parliamentary democracy and a federation
Telephone code1 902
Place in the world in corruption10
locationNorth America
ClimateThe climate varies from temperate in south to subarctic and arctic in north
Literacy rate99.00%
Ethnic groups80% - British, 18% - the French, and 2% - the Germans, Danes, Poles, Italians, Jews
National currencyCanadian dollar
USD exchange rate0.99
GDP per capita22
Credit ratingAAA
The judiciarySupreme Court of Canada, Federal Court of Canada, the Federal Court of Appeal, Tax Court, provincial / territorial courts
Executive authorityHead of government: Prime Minister of Canada. Government: Federal Ministry, elected Prime Minister from among the members of his party in the parliament
Legislative authoritiesbicameral Parliament of Canada: Senate (105 seats), the House of Commons (308 seats)
Corporate information
Opportunity to purchase ready-made companiesNo
Legal systemCommon Law, based on English Common Law
The use of the Cyrillic alphabet in the nameNo
Local registered officeNo
Organizational and Legal Formscorporation, unlimited liabilility company, sole proprietorship, partnership, co-operative, trust and branch of a local or foreign company
Local registered agentNo
Shares and share capital
Bearer sharesNo
Possibility to issue shares without par valueNo
Taxation
VATNo
Basic corporate tax rate4.00%
Capital gains taxNo
Currency controlNo
Corporate tax rates details4% - 16%
Stamp dutyNo
Director and Secretary
Minimum number of directors1
The requirement for residency directorsNo
Director of legal entities are allowedNo
The data reveals to the local agentNo
Data field to the public registryNo
The requirement for the presence of the SecretaryYes
Requirement to the residense of the SecretaryNo
Requirements to qualification of the SecretaryNo
Legal entity as the SecretaryNo
Shareholder and beneficiary
Minimum number of shareholders1
Data is entered in the public registerNo
Shareholders residency requirementNo
Information about the beneficiary is disclosedNo
Information may be disclosed to the local agentNo
Shareholders-legal entities are acceptableYes
Reporting
The requirement for filing reportsNo
Open access to reportsNo
Statutory auditNo
The requirement for filing Annual ReturnNo
Open access to the Annual ReturnNo
The requirement for reportsNo
Treaty on avoidance of double taxation (States which signed)89
Membership in the OECDYes
Is it offshore according to Russian legislationNo
Trademark Registration
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