:
registration of legal entity

Cost of registration The cost of the second year Number of Directors Corporate tax rates Payment of Charter Capital Financial statements
1800.00 USD 1500.00 USD 1 1.00% 0.00 No

Registration of a company on Prince Edward Island

pei.jpgCanada 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:
  • federal;
  • municipal.
  1. 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.

Set of documents
   
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Nominee director and shareholder
   
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General information
Square33 339.00
Population142 266.00
CapitalCharlottetown
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% - the descendants of immigrants from the British (mainly Scottish and Irish), 15% - the descendants of the French, and 5% - the indigenous inhabitants (Micmac Indians), etc.
National currencyCanadian dollar
USD exchange rate0.99
GDP per capita22
Official languageEnglish and French
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 companiesНет
The use of the Cyrillic alphabet in the nameНет
Local registered officeНет
Organizational and Legal Formscorporation, unlimited liabilility company, sole proprietorship, partnership, co-operative, trust, branch
Local registered agentНет
Shares and share capital
Bearer sharesНет
Possibility to issue shares without par valueНет
Taxation
VATНет
Basic corporate tax rate1.00%
Capital gains taxНет
Currency controlНет
Corporate tax rates details1% - 16%
Stamp dutyНет
Director and Secretary
Minimum number of directors1
The requirement for residency directorsНет
Director of legal entities are allowedНет
The data reveals to the local agentНет
Data field to the public registryНет
The requirement for the presence of the SecretaryДа
Requirement to the residense of the SecretaryНет
Requirements to qualification of the SecretaryНет
Legal entity as the SecretaryНет
Shareholder and beneficiary
Minimum number of shareholders1
Data is entered in the public registerНет
Shareholders residency requirementНет
Information about the beneficiary is disclosedНет
Information may be disclosed to the local agentНет
Shareholders-legal entities are acceptableНет
Reporting
The requirement for filing reportsНет
Open access to reportsНет
Statutory auditНет
The requirement for filing Annual ReturnНет
Open access to the Annual ReturnНет
The requirement for reportsНет
Treaty on avoidance of double taxation (States which signed)89
Membership in the OECDДа
Is it offshore according to Russian legislationНет
Trademark Registration
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