ClevverBlog

Highlights
16th Nov 2021

Online Business Formation in North America

10th Nov 2021

Company Incorporation in Tax Havens

02nd Nov 2021

Company Incorporation in Central Europe

16th Nov 2021

Online Business Formation in North America

Canada and the USA

North America is one of the most economically developed macro-regions in the world. Together, the United States and Canada form one of the largest, highly developed, and multifaceted economies.  

Canada 

Canada is one of the most prestigious jurisdictions for setting up and doing business globally. The government of the country has taken care to create well-thought-out and up-to-date laws that help attract foreign entrepreneurs. Canada is recognized as one of the richest countries in the world with a high per capita income. The country is a member of numerous respectful international organizations like the OECD, G7, NATO, WTO, etc. The main trading partners are the United States, China, Mexico, Germany, and Japan. 

Principal business entities. These are the corporation, unlimited liability company, sole proprietorship, partnership (various forms exist), joint venture, trust, and branch of a foreign corporation, — declares Deloitte

Cost and terms of registration. Pricing for the incorporation service through Clevver’s help in Canada starts from 3,300 Euros. It can be as fast as 2-3 business days to register a Canadian company once all pre-incorporation documentation is in place. 

Advantages:  

  • Canada's legislation is flexible and in line with all modern realities;  
  • Non-resident companies pay taxes only on profits generated in Canada; 
  • Canada has signed more than 100 double taxation treaties;  
  • Clevver assists with the simple online registration of a company in Canada that does not require the owner’s physical presence. All legal papers are available in a digital form.  

Financial statements must be prepared annually. 

The United States of America 

The US economy is the largest economy in the world in nominal terms, accounting for at least a quarter of world GDP for the past 50 years. It is one of the most diversified national economies in the world. There is no nationwide uniform legislation for business registration in the country. Each state has its own taxation rules and mandatory fees. Lawyer-partners, working with Clevver, have a deep knowledge of US law and are aware of all the latest changes. They will help you choose any of the 50 states that are most suitable for you and your business. 

Principal business entities. These are the corporation, limited liability company, business trust, partnership, and limited partnership, usually created under the laws of one of the 50 states or the District of Columbia. Certain contractual arrangements may be treated as partnerships for US federal income tax purposes. US business also may be carried on directly by an individual (sole proprietorship) or a US branch of a foreign business entity, — insists Deloitte portal. 

Cost and terms of registration. Starting price for the company registration service with Clevver’s support in the USA is 129 Euros. It is possible to form a business entity within a few business days once all pre-incorporation documents are available. 

Advantages:  

  • The United States has consistently ranked among the top in the world for overall competitiveness and ease of doing business; 
  • The US business culture, backed by a regulatory environment, is particularly conducive to starting and operating a business; 
  •  There is a transparent and predictable legal system in the country; 
  • Clevver experts will readily help you incorporate a company in any of the 50 US states on a remote basis. 

Each publicly traded legal entity is obliged to prepare financial statements. Deadlines depend on the type of company. 

Final Words 

Business registration in the USA or Canada opens up breathtaking opportunities for foreign entrepreneurs, among which are access to a huge solvent market of goods and services, well-thought-out and loyal legislation, an excellent reputation for a business, and the trust of partners. 

Clevver helps with company formations around the globe, including the North American region. Find out more on the site or contact our specialists directly here

 
DISCLOSURE NOTICE:  Any legal or tax advice in this communication (including any attachments) is for information purposes only and not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.