Registering a Limited Partnership in Canada with a corporate bank account opening in the United Bank of Curacao – from 7,249 EUR
We invite you to have a Limited Partnership (LP) registered in Canada and open a corporate bank account in the United Bank on the island of Curacao. In this manner you can acquire a foreign company in a respectable jurisdiction with no corporate tax thus building a reliable platform for your future business activities. A bank account on Curacao, in its turn, will effectively protect your assets and give access to high-quality modern banking services.
The business can be registered remotely: no expensive flights on your part are required. The time needed for having a company registered in Canada and a bank account opened on Curacao is about three and a half weeks.
Registering an LP – the preferable form of company ownership in Canada
Over many decades already, Canada is among the best-developed economies in the world. Business companies registered in this jurisdiction enjoy a high status by default, which has direct impact on their competitiveness and reliability in the eyes of their international partners. This is exactly the case when the home country’s image positively affects the perception of the company by the banks, partners, and different state agencies.
A Canadian resident company will attract the desirable attention to your business and simultaneously will help avoid the undesirable suspicions and prejudices.
A Limited Partnership is considered one of the most efficient types of company ownership in the Canada of today. This company type has one General Partner with unlimited liability and one or more Limited Partners whose liabilities are limited by the amounts of contributions that they made to the company funds at the time it was established.
An LP is the optimum form of proprietorship from the viewpoint of the balance between its advantages and perspectives and the costs of the company establishment and maintenance.
It is not only inexpensive to register an LP in Canada, but it is also very fast and simple to do it there in comparison to some other jurisdictions.
Advantages of a Canadian LP:
- Your company will have wonderful opportunities thanks to Canada’s international reputation. You will have strong competitive advantages such as access to the most promising and solvent markets, advertisement media, and fund raising possibilities;
- Your company can have a corporate bank account in any country of the world;
- An LP in Canada established by foreign citizens is not considered tax resident of the country. That means that your company will not have to pay Canadian corporate tax;
- The company profit is distributed among the partners and each of them pays the income tax in accordance with the tax legislation of his or her home country (or tax residence country);
- There are no minimum registered capital requirements in Canada for an LP;
- The country legislation also does not require filing annual tax reports or having annual audit;
- Both private individuals and legal entities can be the LP constitutive partners. However, the second option is less advantageous as it will complicate the registration process as well as further company activities;
- It is possible to register an LP in Canada in such a way that a single person will own 100% of the company. He or she will then be established both as the General Partner and as the Limited Partner. The nominee partner service is also available.
IMPORTANT: If you are planning to conduct business activities (that is, make money) in Canada, the company has to be registered under different terms and conditions. If this is the option you are interested in, please contact us via e-mail [email protected] and we will provide all the necessary consultations.
The costs of LP registration and maintenance in Canada
Having an LP registered in Canada will cost you 3,250 EUR.
The following services are included in this sum: company registration (agent services and checking the uniqueness of the company name); legal and postal address rent for one year; payment of state duties; issuing of original corporate documents; and their delivery to you wherever you are.
The cost of annual company renewal is 3,000 EUR.
If you want to make use of our nominee partner service the cost of partnership registration is going to be 5,250 EUR in total.
List of additional services
| Amendments to the corporate documents or Partnership dissolution | Per one amendment (not including the state duties) | 500 EUR |
| Annual renewal of the LP office | Office maintenance, processing the correspondence from the state authorities, and payment of state duties | 3,000 EUR |
| Virtual office services (for one year) | A postal address in Ontario province Redirecting the letters to the electronic mail
Acceptance of fax messages and postage of the incoming information to the previously indicated e-mail address |
1,750 EUR |
| Notarization of powers of attorney and other documents | Per one document or one bound set of documents | 750 EUR |
| Nominee partner, director, agent, manager | Per year, annual extension | 1,750 EUR |
| Concierge services (min. 3 hours) | Per hour | 125 EUR |
| Courier services | Worldwide | 250 EUR |
| Accounting support for one year | Minimum sum | 2,250 EUR |
| Yearly tax return | Minimum sum | 1,250 EUR |
Documents required when registering an LP in Canada
You will have to submit the following documents to us (for each partner):
- A notarized copy of each partner’s foreign passport;
- A proof of residency (a utility bill or a bank statement);
- A form that describes the types of your prospective business activities – completed and printed out. Please indicate what business your company will be engaged in, preferably in detail, and also please suggest several variants of the name for your future company.
IMPORTANT: All documents have to be in the English language.
Opening a bank account in the United Bank of Curacao
From the economic viewpoint, the world is so much globalized today that one can find a reliable business partner outside conventional frameworks. We are used to thinking that the best banks are located in Europe and America but excellent banks can sometimes be found even on distant islands. And these banks are capable of providing some unique opportunities to you as well as suitable conditions and world-class services.
Curacao is one of the insular states in the Caribbean Sea. It is part of the Netherlands Kingdom but it enjoys a high degree of autonomy.
In addition to its beneficial geographic location and political status, Curacao is on the so-called OECD “white list”, which positively affects this jurisdiction’s financial institutions standings with the international community.
The island has a well-developed banking sector that deserves due respect of its foreign partners.
The United Bank of Curacao is a rather young bank (it was established in 2009) but surprisingly, it has already acquired the necessary good reputation and continues to grow at a fast rate.
Establishment of this bank was an answer to the world financial crisis that broke out in 2008. The international banking system had to face a new reality then that required new methods and new solutions. The United Bank of Curacao was able to find those.
Thanks to wise management, highly qualified employees, and non-trivial policies, this bank has earned a strong reputation at least in the Caribbean region.
The most important characteristic of this bank is that it manages to serve the interests of its clients by protecting their assets and maintaining a high degree of confidentiality, and at the same time, it plays by the international rules. Keeping this sort of balance is not easy, especially when the business environment is changing rapidly, but the United Bank is coping with this task anyway.
In addition to opening corporate accounts, the bank clients can use other services too such as multi-currency savings accounts or special purpose accounts that can be used for a single transaction or a single trade contract.
One of the priority development areas for this bank is the IT system improvement and Internet banking promotion. Thus, the United Bank of Curacao can offer the most up-to-date services to you.
There is also a wide range of products in the bank’s credit portfolio. You will certainly be able to find the optimal loan option with this bank.
Even though the bank services its clients in English, other languages are available at a special notice.
Bank fees
| Bank Account | |
| Minimal deposit for opening an account | US$ 5,000 |
| Account service fee, per year | US$ 200 |
| Inactive account service fee, per year | US$ 250 |
| Account closing fee | US$ 200 |
| Bank statement once a month | No charge |
| An additional address, per year | US$ 180 |
| Credit cards | |
| New card issuance | US$ 250 |
| Annual guarantee sum | US$ 250 |
| Balance prepayment service fee. A credit card account is settled automatically at the end of each month. | US$ 50/ balance prepayment or transfer of
an additional sum to the credit card account |
| Transactions | |
| Local transfer | US$ 2.50 per transfer |
| Local payments including SWIFT commission | US$ 15.00 per transfer |
| International payments within US$ 12,500 to/ from account | minimum US$ 10.00/ 1.2% |
| International payments between US$ 12,500 and US$ 125,000 | minimum US$ 17.50/ 0.63% |
| International payments between US$ 125,000 and US$ 250,000; a larger sum on request | minimum US$ 80.00/ 0.42% |
| SWIFT copy | US$ 25.00 per transfer |
| Standing order – local/ international | US$ 15.00/ US$ 35.00 |
Documents required for opening a corporate account with the United Bank of Curacao
For all the account beneficiaries, signatories, company directors, nominees:
- Application forms for opening an account – completed, printed out, and signed;
- Copies of foreign passports – notarized. (If the notary public is reluctant to notarize the copy of your foreign passport, you can have it translated into English and bound with the copy of the original passport main page. Then you can have the translation certified by a sworn translator and then the notary will put his or her stamp on the copy of your foreign passport);
- A proof of residency (a utility bill not more than three months old);
- A letter of recommendation from your bank to the United Bank of Curacao. The letter has to be not more than three months old, and you have to be serviced by your bank for not less than two years. The types and status of your relationships with the bank also need to be indicated;
- A résumé;
- Company corporate documents (that you will acquire from our agent when your LP is registered in Canada).
IMPORTANT: All documents have to be written or translated into English and translations apostilled.
The procedure of registering an LP in Canada and opening an account with the United Bank of Curacao
Now when you have decided to establish a company in Canada with a bank account on Curacao, we suggest that you follow these steps:
- Apply for the service to [email protected] and receive professional consultation on registering an LP in Canada and opening a corporate account in the United Bank of Curacao.
- Cover the cost of these two complex services. The price starts at 7,249 EUR.
You can pay by a bank transfer or a credit card or by use of any payment system that you prefer such as: PayPal, Money Gram, Western Union, WebMoney, or Bitcoin.
- Than you will have to send us the originals of the documents required for registering an LP in Canada and also those for opening a bank account on Curacao.
- After receiving the full set of documents and the full service payment, we will launch the process. This may take us up to four weeks to complete all the tasks.
- When the process is complete, and your company is registered in Canada, and its bank account is opened with the United Bank of Curacao, we will send you the originals of all the documents certifying these deeds to the address you will have indicated.
Please apply for this service by writing to [email protected] at any time you wish.