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Company registration on Prince Edward Island

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Канада
Company registration on Prince Edward Island
Number of Directors
1
Corporate income tax
3.5-16%
Minimum authorized capital
0 USD
Financial statements
No

Cost of registration

from 1890 USD

The cost of the second year

from 1690 USD

Registration of a company on Prince Edward Island

Canada is a huge country in North America. By its size the state is the second largest in the world (10 million km²).

Official currency is the Canadian dollar.

Entrepreneurs are showing increasing interest in doing business in Canada. Incorporation of a company on Prince Edward Island and in other jurisdictions is a popular service because in the country:

  1. There is an opportunity to use a company as a nominee one or a holding company.
  2. There is no currency control.
  3. It is allowed to open an account with Canadian banks.
  4. There is an opportunity to obtain a residence permit.

ORGANIZATIONAL AND LEGAL FORMS

You can register a company on Prince Edward Island as:

  • Sole Proprietorship;
  • Partnership;
  • Branch Office;
  • Corporation;
  • Trust;
  • Limited Liability Partnership;
  • Cooperative;
  • Extra-Provincial Corporation.

LEGISLATIVE FRAMEWORK

Registration of a company on Prince Edward Island and its further activities are governed by the following laws/acts:

  • "On commercial legal entities";
  • "On liquidation of legal entities";
  • "On Credit Associations";
  • "On trusts and credit companies".

Offshore on Prince Edward Island: features

It is not allowed to use the name of a company that is identical or similar to an existing one (registered). Options that are capable of misleading about the scope of activities of a company or demonstrate a connection with the royal family are also not allowed for being used. In addition, you can not use the name to demonstrate your involvement in global brands.

Offshore zones of Prince Edward Island allow companies to start operations with at least one director.

In the province, there are no requirements for:

  • residency of directors;
  • residency of shareholders;
  • citizenship of a secretary;
  • minimum authorized capital.

Individuals and legal entities can become directors and shareholders of a company.

All information about shareholders is kept in the office.

It is not necessary to identify the real owner in government bodies, establishing an offshore company on Prince Edward Island.

It is allowed to issue preferred (including cumulative preferred) shares.

You can use a nominee service. When using nominee directors and shareholders, it is impossible to establish the beneficial owner of a company.

Obligatory condition is keeping an accounting.

TAXATION

Payment of taxes is carried out under a two-tier system. Small companies are allowed to prepare tax reports once a year. The report is sent to the tax authorities of the jurisdiction.

Taxes are paid only with regard to the net profit of a registered business on Prince Edward Island and include:

  1. Income taxes:
    1. federal;
    2. municipal.
  2. VAT.

ACCOUNTING

Calculation of the fiscal year begins with incorporation of a company. Submission of an annual report should be carried out within 6 months from the end of a financial contract. In this case, registration of an offshore company on Prince Edward Island allows you to choose the reporting model:

  1. Documentary (income and expenses on concluded contracts are indicated, regardless of the fact of payment).
  2. Actually (real payments are the basis for paying taxes, this form is convenient for small business owners and freelancers).

It is possible to avoid an audit, having a relevant application timely issued.

Even companies that do not have sources of income in Canada are obliged to provide the report.

If statutory fund of a company does not exceed 5 million CAD, audit of accounting is not necessary.

REGISTER A COMPANY ON Prince Edward Island with LAW&TRUST INTERNATIONAL

Availability of your own business in Canada can be a good start to your international business. We will help quickly register a company for you in any province of Canada. Registration of companies abroad is one of the main directions of our work.

General information

Population
142 266.00
Literacy rate
99.00%
National currency
Canadian dollar
Official language
English and French
Credit rating
AAA

Corporate information

Opportunity to purchase ready-made companies
No
Legal system
Common Law, based on English Common Law
Requirement for Local registered agent / secretary
No
Requirement for Local registered agent / secretary
No

Shares and share capital

The minimum amount of the issued capital
-
Bearer shares
No
Possibility to issue shares without par value
No

Taxation

VAT
No
Capital gains tax
No
Currency control
No

Company structure

Minimum number of directors
1
The requirement for residency of directors
No
Director of legal entities are allowed
No
Director's data are publicly disclosed
No
Nominee service possibility
0.00

Shareholder and beneficiary

Minimum number of shareholders
1
The requirement for residency of shareholders
No
Shareholders' data are publicly disclosed
No
Beneficiary's data are publicly disclosed
No
Beneficial ownership reporting requirement
No

Reporting

The requirement for filing reports
No
Open access to reports
No
Statutory audit
No
The requirement for filing Annual Return
No
Open access to the Annual Return
No
The requirement for reports
No

When taking into account the information on this page, please refer to limitation of liability

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