One of the threshold issues for a foreign entity to consider when seeking to establish a business in Canada is what form the business should take. The form selected should reflect both operational and tax considerations. The foreign entity will need to determine whether that business should be carried on directly, as a branch of […]
Archive | September, 2019
Directors’ Residency Requirements for Canadian Corporations
The federal Canada Business Corporations Act (the CBCA) requires that at least one-quarter of the directors of most federal corporations be resident Canadians. For provincial corporations, here is a list of the requirements: Alberta Directors’ residency requirements: YES At least 1/4 of the directors of a corporation must be resident Canadians. British Columbia Directors’ residency requirements: […]
Canada Passive Nominee Director Services
Canada Passive Nominee Director Services Canada Nominee Passive Director Services in Canada. When you’re setting up a new business or a subsidiary in Canada (Alberta, Ontario, Saskatchewan, Newfoundland and Labrador, Manitoba and Federal Corporations, Government regulations require you to appoint a Canadian resident director. This can be challenging when you’re a foreign company or investor […]
Corporate Ownership Restrictions in Canada
Federal and provincial governments impose corporate ownership restrictions in certain strategic or sensitive industries, including: Financial Institutions: Generally, without ministerial approval, a foreign bank cannot own more than 10 percent of any class of shares in any Canadian bank, including a Canadian bank subsidiary. There are various exceptions to this general rule. Broadcasting: In an […]