Set up a partnership in Canada and open a bank account for it in an offshore Caribbean bank remotely, without a personal visit. You will get a business entity in a respected jurisdiction and will be able to do business with partners around the world, and will also benefit from additional financial instruments at one of the best institutions in Antigua and Barbuda.
If you are interested in personal and corporate accounts in other countries opened for other purposes, fill out the form to get advice from our specialists.
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Check the list of required documents, and get the details of the process, terms, and costs.
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Registration of a Limited Partnership in Canada
Canadian limited partnerships are now seen as an alternative to English and Scottish partnerships. Canadian LPs offer flexibility, tax transparency, and adequate reporting.
Despite the fact that Canadian LPs are dubbed offshores, Canada remains an onshore high-tax jurisdiction with a strong reputation and sound protection of property rights. The country relies on a strong economy, well-developed legislation and stability – something that lacks in many countries.
As for the LP, this legal form offers investors the following opportunities:
- Remote registration of a business entity in Canada
- A full-fledged entity with its registered office
- An ability to open corporate accounts around the world
- LPs do not pay taxes in Canada – profits are distributed among partners, and they report on their income in their countries of tax residence
- There are no minimum statutory fund requirements for the partnership
- The partnership is required to keep records, but it does not file tax returns or arrange any audits
- A Canadian partnership requires at least two partners to be formed
When you register a partnership, you will need to come up with a name that is not yet used in the register and add Limited Partnership or LP to it. The name of the general partner cannot be used to form the LP’s name.
The partnership is required to have a registered office in Canada.
If you decide to set up a partnership with the help of our experts, you will receive not only a ready-made business but also a legal address for one year, a postal address, free consultations, and prepaid duties and taxes.
While establishing a business, we recommend that you choose individuals or Canadian companies as partners. This greatly simplifies work with documents and reduces the risk of being turned down when you apply for banking services (as all banks want to understand who the true beneficiary is).
Documents Required for Canadian LP Incorporation
Each individual partner will need to provide the following documents:
- Copy of passport
- Proof of residential address no older than 2 months (utility bills are most commonly used for this purpose)
The documents should be translated into English and certified. You will need corporate documents, as well as personal documents from the list above for each of the partnership’s beneficiaries, to set up a partnership.
Costs of Establishing and Maintaining a Limited Partnership in Canada
The cost of the partnership registration service starts from EUR 3,500. This amount includes the registration itself, payment of state duties, legal address, a set of documents for the partnership, and sending them to any place in the world.
Renewal of the partnership in Canada will cost you 3,000 euros per year.
If necessary, we will provide you with the services of a nominee partner (director, manager, etc.). In this case, the cost of the service package that includes partnership registration + nominee partner will amount to EUR 6,250.
Additional Services
| Services of a nominee partner, director, agent, manager, per year | EUR 1,750 | |
| Express registration, optional | ||
| Ontario General Partnership | EUR 750 | 2 business days |
| Ontario General Partnership with a business account opened in a Canadian bank | EUR 2,250 | 6 business days |
| Legalization of constituent documents | ||
| Notarization of documents | EUR 250 per document | From 2 business days |
| Legalization of documents | EUR 500 per document | From 2 business days |
| Documentary support | ||
| Preparation of constituent documents (Preparation and notarization of the first copy of the constituent documents (Master Business License, Partnership Agreement, Power of Attorney, Assignment of Partnership Interest) for one non-resident partner is included in the cost of general partnership registration in Ontario.) |
EUR 125 per document | |
| Preparation of additional corporate documents | EUR 750 per hour | |
| Modification of the constituent documents | EUR 750 per set | |
| Corporate embosser | EUR 250 | From 2 business days |
| Pocket embosser | EUR 225 | From 2 business days |
| A round seal with an automatic tooling | EUR 240 | From 2 business days |
| Gold embosser stickers (60 pieces) | EUR 25 | |
| Silver embosser stickers (60 pieces) | EUR 25 | |
| Red embosser stickers (60 pieces) | EUR 25 | |
| SIM card with a Canadian number | EUR 50 | |
| Concierge services | ||
| Concierge services in Canada, including visa support, hotel reservations in Toronto, flight bookings to/from Canada, escort and tour services (excursions, shopping, business, etc.), interpreter services (at least 3 hours) | EUR 125 per hour | |
| Toronto Airport pickup and delivery on the day of arrival | EUR 250 per trip | |
| Transfer from the hotel to Toronto Airport on the day of departure | EUR 250 per trip | |
| Mail service | ||
| Postal address subscription service of for 12 months (delivery services are charged additionally) | EUR 900 | |
| Postal address subscription service for 6 months (delivery services are charged additionally) | EUR 540 | |
| One-time courier shipment ordering (delivery services are charged additionally) | EUR 125 | |
| Storage of postal items for 1-3 days | Free | |
| Storage of postal items for 4-30 days | At least EUR 15 per day | |
| Canadian virtual office services per year | EUR 1,750 | |
| Accounting support | ||
| Accounting services for the partnership (including registration of business transactions and bank transactions, preparation of an annual report on financial activities in the Bank, preparation of an information letter in the Revenue Canada form) |
At least EUR 1,250 per year | |
| Courier delivery | At least EUR 250 |
Partnership registration in Canada with the support of our specialists takes from 14 days.
Open a Corporate Account for a Canadian Partnership with the Bank of Antigua and Barbuda
We suggest opening a corporate account with a financial institution in Antigua and Barbuda. It is an experienced and reliable bank that offers services to international business, and you can also benefit from its enhanced investment opportunities.
An important feature of the bank is its focus on network trading and merchant accounts for e-commerce. Foreign companies can choose the most suitable option for business among the total number of corporate accounts with an offshore bank in the Caribbean:
- settlement (operating) account in Antigua and Barbuda
- escrow account to keep your assets
- term deposit – a gold account that the bank can open to corporate and private clients in euros, US dollars and pounds sterling at an increased rate
- savings account
You can open a corporate account in Antigua and Barbuda for an offshore foreign company remotely by providing documents to our experts and paying for the services.
Documents Required to Open a Business Account in Antigua
You will have to provide the following documents to open an account with the Bank of Antigua and Barbuda:
- Certified copies of the foreign passport (for each founder and director)
- Proof of residential address that is no more than 3 months old (for each founder and director). Utility bills or a copy of the internal passport (the main page and the page with the address, translated and certified) are allowed
- A certificate from a bank stating that you have been working with a financial institution for at least 1 year
- Account opening forms
- Corporate documents (you will obtain a detailed list from the consultants)
Costs of Opening and Maintaining an Account with the Bank of Antigua and Barbuda
Our business partners can open an account with an offshore bank in the Caribbean region for a foreign company remotely for EUR 3,999. This service involves checking the documents you provide to us and opening an account.
2022 rates for servicing corporate accounts in the Bank of Antigua and Barbuda for non-resident companies are as follows:
- An operating account in the Caribbean for the Canadian partnership can be used for expense transactions, escrow, investments, etc. No interest is charged on the amount of capital held on this account by corporate clients, and the cost of servicing per month is USD 25. The minimum deposit required to open an account (that needs to be kept on it by a foreign legal entity while it is used) is USD 25,000. If the balance drops below this level, the bank may charge an additional fee.
- A UPI Prepaid Corporate Debit Card is a good choice for Antigua and Barbuda’s corporate clients. It can be used as a convenient financial tool for current expense transactions, payments to intermediaries, and B2C and B2B in other countries.
- A UnionPay Prepaid Card is a multi-currency card where the customer’s assets can be held on a corporate card account. You can use this card to withdraw money from ATMs in more than 170 countries, conduct online transactions, and make settlements in stores. Currency conversion is set up automatically, which simplifies financial payments in multiple currencies from a single account.
- The GOLD BOND Term Deposit is a deposit account that will be of interest to corporate and private clients of the Bank of Antigua as it offers long-term investments for a period from 6 months to 5 years with a fixed increased interest. At the same time, the client can withdraw and spend the interest at his own discretion after it is charged. The interest is charged every 3 months, 6 months, or annually, as established by the agreement of the parties.
Antigua and Barbuda Bank: Time Deposit Rates
| Deposit | Term (months) | |||||
| 6 | 12 | 24 | 36 | 48 | 60 | |
| USD GOLD BOND | ||||||
| 100,000 — 300,000 | 2.00% | 2.10% | 2.20% | 2.30% | — | — |
| 301,000 — 500,000 | 2.40% | 2.50% | 2.60% | 2.70% | — | — |
| 501,000 — 1,000,000 | — | 2.80% | 2.90% | 3.00% | — | — |
| 1,000,001 — 3,000,000 | — | 3.10% | 3.20% | 3.30% | — | — |
| 3,000,001 — 5,000,000 | — | 3.40% | 3.50% | 3.60% | 3.75% | 3.90% |
| 5,000,001 — 7,000,000 | — | 4.05% | 4.20% | 4.35% | 4.50% | 4.65% |
| 7,000,001 — 10,000,000 | — | 4.80% | 4.95% | 5.10% | 5.25% | 5.40% |
| 10,000,000 and more | — | 5.55% | 5.70% | 5.85% | 6.00% | 6.15% |
| EUR GOLD BOND | ||||||
| from 500,000 | 0.75% | 1.50% | 2.50% | 3.00% | — | — |
| GBP GOLD BOND | ||||||
| 500,000 and more | 1.00% | 1.75% | 2.75% | 3.25% | — | — |
If you are interested in opening a personal account with an offshore bank in the Caribbean or another region, you can start by booking a free session to get advice from our specialists.
How to Register a Limited Partnership in Canada and Open a Corporate Account in Antigua
- Please contact us at in**@***********rt.com.
- Provide information about yourself and the future partnership, and our consultants will assess the possibility of providing the service.
- Pay for the services. The amount starts from 7499 EUR per partnership (plus an account). Payments are accepted by bank transfer, card, WebMoney, WesternUnion, Bitcoin, or MoneyGram.
- Please provide a complete set of documents.
- As soon as we receive the payment and documents, we will proceed to register the partnership and open an account.
Form a partnership in a reputable jurisdiction and take advantage of all its benefits!
08 December 2022 