
Ontario LP and
Bank Account in Canada
$3,599
Ready to start your Canadian adventure. We’re here to help non-residents set up Canadian companies and open business bank accounts with ease. Our Canada Corporate Bank Account Package has everything you need to kick start your business in Canada. Just one personal visit to a bank branch in Canada, and you’re all set!
This package considerably facilitates doing business in Canada and includes the following documents and services:
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Formation of an Ontario Limited Partnership
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Name Search confirming uniqueness of the name
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Government registration fee
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Registered office address in Ontario for one year
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Declaration of an Ontario Limited Partnership
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Declaration Information of an Ontario Limited Partnership
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Organizational Resolutions of the General Partners
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Resolution Admitting of Limited Partner
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Partnership Agreement
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Register of General Partners
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Register of Limited Partners
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All documents emailed in PDF Format
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Bank introduction services for opening a bank account in Canada
Information about opening a Business Bank Account in
Canada
for Non-Residents
Canadian privacy legislation is based on two federal privacy laws, the Privacy Act and the Personal Information Protection and Electronic Documents Act .
The Privacy Act restricts collection, use and disclosure of private information by the federal government departments.
The Personal Information Protection and Electronic Documents Act imposes strict regulations on private companies including banks in terms of protection of private information of their customers.
Canada has 96 tax treaties in force, 3 tax treaties signed but not yet in force, and 8 tax treaties are under negotiation. Such wide network of tax treaties creates excellent opportunities for tax planning.
In addition, Canada has 24 Tax Information Exchange Agreements (TIEAs) in force 1 signed, but not yet in force and 5 under negotiation. It means that access to Canada’s exempt surplus regime will be extended to those jurisdictions.
We prepare all corporate documents according to the banks requirements.
The following documents and services are included in the package:
- Formation of an Ontario Limited Partnership
- Name Search confirming uniqueness of the name
- Government registration fee
- Registered office address in Ontario for one year
- Declaration of an Ontario Limited Partnership
- Declaration Information of an Ontario Limited Partnership
- Organizational Resolutions of the General Partners
- Resolution Admitting of Limited Partner
- Partnership Agreement
- Register of General Partners
- Register of Limited Partners
- All documents emailed in PDF Format
- Bank introduction services for opening a bank account in Canada
The bank requires the following documents from each beneficial owner and authorized signatory:
- Valid passport
- Second piece of ID (credit card or drivers licence)
Personal visit for opening a bank account is required. We are able to provide invitation letters to Canada when the bank confirms clients are acceptable.
Our company will arrange a meeting with a bank officer and provide the bank with all required corporate documents. The bank opens accounts, issues debit cards linked to the accounts and provide cheque books.
If you cannot visit Canada, our company is able to assist you with opening a bank account in other jurisdictions, where personal visit is not required.
No initial deposit is required. However, we recommend to deposit into your account a minimum of $500 to make sure that your account is active and will not be closed due to inactivity for over 6 months.
No minimum balance is required, when your bank account is opened. However, you should keep some funds in your account to make sure that the bank is able to deduct monthly maintenance fee.
The bank offers advanced 24/7 online banking including:
- Access to account balances and account transactions
- Transfer money between accounts in the same bank
- International wire transfer payments
The bank issues Visa Debit Card directly linked to the bank account. Each debit card payment is automatically deducted from the bank account. There are no credit limit and security deposit for debit cards. As soon as a client has a positive balance in the account, you may use the card.
You may apply for a credit card Visa or MasterCard being a client of the bank for a minimum of 6 months. If you apply for a credit card, the bank may request a security deposit based on the fact that you do not have residency in Canada.
Debit and credit cards provide the following advantages:
- 24/7 access to funds in any place of the world
- Worldwide acceptance for any online or in store purchases
- Worldwide cash withdraw
The bank opens corporate accounts within 1 business hour, upon your personal visit to the bank.
The bank opens accounts in CAD and USD and issues debit and credit cards in CAD.