Canada Limited Partnership Account Registration Requirements

Alberta

Alberta Limited Partnership:
All limited partnerships are required to file a certificate before it can come into existence.

Limited Liability Partnership:
Certificate of registration issued by the Registrar to evidence the registration of limited liability partnership.

British Columbia

British Columbia Limited Partnership:
All limited partnerships are required to file a registration statement before it can come into existence.

Limited Liability Partnership:
All limited liability partnerships are required to file a registration statement.

Manitoba

Manitoba Limited Partnership:
All limited partnerships are required to file a certificate before it can come into existence.

Manitoba Limited Liability Partnership:
All Limited Liability Partnerships must submit a declaration for approval before it can come into existence.

New Brunswick

New Brunswick Limited Partnership:
All limited partnerships are required to file a declaration before it can come into existence.

New Brunswick Limited Liability Partnership:
All limited liability partnerships are required to file a certificate of designation before it can come into existence.

Newfoundland and Labrador

Newfoundland Limited Partnership:
All limited partnerships are required to file a declaration before it can come into existence.

Newfoundland Limited Liability Partnership:
All limited liability Partnerships must submit an application for approval before a certificate is issued evidencing Limited liability status.

Northwest Territories

Northwest Territories Limited Partnership:
All limited Partnerships are required to file a certificate before it can come into existence.

Northwest Territories Limited Liability Partnership:
All limited liability Partnerships must submit an application for approval before a certificate of registration is granted evidencing limited liability partnership status.

Nova Scotia

Nova Scotia Limited Partnership:
All limited partnerships must file a certificate before they can come into existence.

Nova ScotiaLimited Liability Partnership:
All Limited Liability Partnerships require a certificate before it can come into existence.

Nunavut

Nunavut Limited Partnership:
All limited partnerships must register a certificate before they can be formed.

Nunavut Limited Liability Partnership:
Cannot form a limited liability partnership.

Ontario

Ontario Limited Partnership:
All limited partnerships are required to file a declaration before they can come into existence.

Ontario Limited Liability Partnership:
All limited liability partnerships are required to register their firm names.

Prince Edward Island

Limited Partnership:
All limited partnerships are required to file a declaration before they can come into existence.

Limited Liability Partnership:
Cannot form a limited liability partnership.

Quebec

Quebec Limited Partnership:
A declaration of registration partnership must be filed.

Quebec Limited Liability Partnership:
A declaration of registration partnership must be filed.

Saskatchewan

Saskatchewan Limited Partnership:
All limited partnerships must register before they can come into existence.

Saskatchewan Limited Liability Partnership:
All Limited Liability Partnerships require a certificate before it can come into existence.

Yukon

Yukon Limited Partnership:
All limited partnerships are required to file a certificate before they can come into existence.

Yukon Limited Liability Partnership:
Cannot form a limited liability partnership.

Benefits of Limited Partnerships in Canada

An LP is not considered a separate taxable entity under the Income Tax Act (Canada). Therefore, it is not required to pay income taxes or file a corporate income tax return. Instead, all profits received by an LP are passed through the LP. Profits and losses are then allocated among the partners of the LP at the end of the fiscal year, in accordance with the terms of the LP agreement governing the LP’s business and affairs.

Partners who are Canadian residents are required to include their part of the profit received through the LP in their personal/corporate tax returns. Partners who are not Canadian residents are not subject to withholding tax on the profits they receive from the LP.

LPs have no audit requirements.

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