The requirements related to starting a business in Canada can depend on the type of structure chosen, the province or territory it will operate and whether it is a resident or non-resident company. Based on these aspects, the business owner will also know if there are any special licensing requirements.
The extra-provincial corporation is one of the most popular business forms among foreign investors, however, a license for such a business is required alongside the appointment of an agent for service the extra-provincial corporation in Canada.
Below, our Canadian company formation specialists explain the steps to complete in order to appoint an agent for services for an extra-provincial corporation. We can also help with this procedure, as well as with obtaining the necessary licenses for operating under such a company.
Who can act as an agent for service for extra-provincial corporations in Canada?
The requirements related to appointing an agent for an extra-provincial corporation in Canada depend on the province or territory the business will operate in. As each Canadian province has its own regulations apart from the federal ones, there are a few aspects which need to be respected in relation to the nomination of such an agent.
It is important to note that not anyone can be an agent for a Canadian extra-provincial company. Those who can as agents can be:
- an individual who is at least 18 years old and who legally resides in the province/territory the corporation will operate;
- a company which has a legal seat in the province/territory the corporation wants to establish itself.
For both types of agents, a set of documents need to be prepared upon appointment. The services offered by the agent, no matter if that is an individual or company, are the same.
Our company formation agents in Canada can act as agents on behalf of extra-provincial corporations.
Documents related to appointing an agent for service for extra-provincial companies
Depending on the Canadian province where the agent has the legal seat or residence, the list of documents to be filed with the local Trade Register office must consist of:
- information about the extra-provincial corporation, including a name search must be performed;
- a registration statement (the name of the form to be filed can be different in various provinces);
- in the case of companies, a power of attorney through which they can represent the corporations is required;
- proof of payment of the registration fee which is subject to different charges across the country;
- in certain provinces, such as New Brunswick, a notice of accepting the role of an agent is required.
It is best to discuss the agent nomination requirements for each particular case with one of our agents specialized in company registration in Canada.
The main services offered by an agent for the extra-provincial company in Canada
The services offered by the agent used for the foreign company or branch office operating under an extra-provincial license depend on the needs of the respective company. It is more common for foreign companies to use local businesses as agents because they can offer more services.
Among the services offered by such an agent are the attorney for service which is required for any foreign company with operations in Canada. This service consists of providing a legal address for the extra-provincial corporation in the territory it will operate in. This service must not be mistaken for the virtual office services for which you can obtain information from our local consultants.
The registered address will also act as a contact point between the foreign company and the authorities in Canada. Such an agent will also be in charge of receiving all official documents, including accounting documents which need to be signed and stamped.
All documents received by the agent will be forwarded to the main offices of the company or any other address indicated by the representatives of the business.
It is important to note that the agent for service for extra-provincial corporations comes under the form of service.
Why set up a business in Canada?
With very good economic results at a worldwide level, Canada attracts foreign investors from every corner of the world. Those who want to set up extra-provincial corporations have several choices and if we are to rank Canadian provinces based on their economic performances, it is work noting that at the level of 2017:
- Ontario has had the highest Gross Domestic Product (GDP) of 825.805 million CAD;
- Ontario was seconded by Quebec with a GDP of 417.173 million CAD in 2017;
- the province of Alberta had the 3rd largest GDP of 331.937 million CAD;
- the 4th most performant province was British Columbia with 282,204 million CAD.
For complete information on the agent for service for extra-provincial corporations, please contact our agents in Canada.