A Québec Corporation is an attractive option for company formation in Canada.
- Key features of a Québec company:
- Canada is the second largest country in the world, and the Northern neighbour of the USA. Québec is the largest Francophone province in Canada.
- As Canada is not an offshore jurisdiction, all companies registered with the Federal Government are considered resident, and their income, derived anywhere in the world, is taxable.
- The region offers a generous tax regime for new investments, tax holidays for foreign researchers and experts, and provides access to the North American market.
- Companies can be formed by registering with the federal or provincial regulators
- The provisions in the provincial Québec Business Corporations Act (QBCA) are widely claimed to be more favourable than the federal Canada Business Corporations Act (CBCA) in terms of governance.
- Both of these Acts allow for owners not to have their annual financial statements audited.
- Unlike under the CBCA, there is no Canadian residency requirement for directors under the provincial QBCA.
- Also, QBCA allows the Shareholders’ meetings to be held outside Québec if permitted by the Articles of Association, or if all the Shareholders agree, unlike under CBCA.
- If a QBCA corporation is owned by a single shareholder, he may choose to avoid establishing a board of directors by signing a declaration to revoke all powers from the board of directors.
- Minimum paid-up capital for QCBA Companies: No minimum capital requirement
- Québec Companies can have just one shareholder (natural or legal person, no nationality or residency restrictions).
- Québec Companies can have just one director (natural or legal person, no nationality or residency restrictions).
- Beneficial owners’ details will not be part of public record.
- Shareholders’ details and directors’ details are part of the public record, you may overcome it by using a nominee service.
- 0% income tax, except for the part of income earned in Canada.
To set up an offshore company in Quebéc, each of the Directors, Shareholders, Beneficial Owners or Authorized Signatories is required to submit the following documents:
For Each Director , Shareholder & Ultimate Beneficial Owner:
- Notarised / Certified True Copy of Passport
- Notarised / Certified True Copy of Driving License or National ID
- Notarised / Certified True Copy of Proof of Address (must be less than 90 days old)
- Bank or Professional Reference Letter
If there are Corporate shareholders, the following documents must be provided:
- Certificate of Incorporation
- Memorandum of Association
- Articles of Association
- Articles of Incorporation
- Register of Directors & Shareholding
We will also prepare the full package of incorporation documents, and send it to you for approval and signing.
The prescribed time frame for the formation of offshore companies in Québec is approximately 1 month to 1 month and a half.
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