Canada is one of the largest economies in the world. Its economy is based on industries like finances, trading, and manufacturing. Among these, trading depends a lot on the maritime sector which is essential for the import and export of goods from all over the world.
Those who want to start a business in the maritime industry in Canada can operate in various sectors, not only in the trading sector. One of the most prolific branches of the maritime sector is the one related to offering repair and maintenance services for ships. The opening of a Canadian business for repair and maintenance of boats and ships is subject to less severe requirements than for operating a trading business.
Our Canadian company formation specialists can help foreign entrepreneurs who want to set up businesses for the repair and maintenance of ships. We also offer tailored company formation services in other industries in Canada.
How to register a business for offering ship repair services in Canada
Opening a business for offering repair and maintenance services for various types of vessels in Canada implies the same regulations and steps as when opening other types of companies. The company must be registered with the local or federal government; however, it must be noted that most of the times these companies operate at a local level.
The documents which need to be submitted with the Trade Register in Canada in order to register a company for offering repair and maintenance services for boats are:
- the company’s Articles of Association which must stipulate the objective of the company;
- the company’s legal address, bank account, and information about the shareholders;
- the business registration number or trade name of the company;
- other information requested by the local office of the Companies Register.
Canada is known for having one of the largest vessel fleets in the world and its most important trading hubs are located in Toronto, Vancouver, and Montreal, therefore those who want to set up businesses for offering repair and maintenance services for ships will usually choose these cities. However, there are many towns with water access in which this type of company can flourish.
We can help foreign investors who want to establish companies which offer ship repair and maintenance services in Canada. We can prepare the documents which need to be filed with the Companies Registrar in accordance with the local or federal legislation.
Services offered by Canadian ship repair and maintenance companies
The services offered by Canadian companies operating in the maritime sector are quite extensive, including when it comes to offering repair and maintenance services for boats. Among these, we mention the following:
- welding services for large and small vessels docking in Canadian harbors;
- electrical repair and maintenance services for all types of Canadian vessels;
- mechanical repair work on various types of commercial boats and ships;
- repair and maintenance services for pleasure boats, such as yachts;
- shipbuilding and hull repair and maintenance services can also be offered;
- vessel reconstruction and painting services for Canadian vessels.
It is also important to know that Canadian companies can offer their services to all types of vessels: from small pleasure boats owned by private individuals to large commercial boats used for various activities. Also, the same companies can offer docking and warehousing services with the adjacent maintenance services during the winter.
It is important to know that in order to have a successful ship repair and maintenance business hiring professionals is very important. The government supports many professional schools which prepare people who want to work in the maritime sector. Apart from this, Canadian companies can also enter the Association of Canadian Ports Authorities in order to obtain credibility.
Why start a Canadian business for repair and maintenance of ships?
Canada is one of the most powerful economies in the world and the maritime industry has performed quite well in the last few years. Out of all the branches of this industry, the ship repair and maintenance sector represents more than 20%.
At the moment, Canada has 18 large ports which fall under the provisions of the Canada Marine Law, and each of these ports has its own shipyard in which companies offer boat repair and maintenance services can operate. These can offer their services not only to the maritime companies, but also their partners among which freight forwarders and cargo companies.
If you want to open a company for repair and maintenance of ships in Canada, please contact us for personalized services. We can help you with the entire company registration procedure for your Canadian company.
Investors who want to start a business in Canada in the shipping industry should know that this is a business activity that can offer many opportunities, given its development.
By 2012, the country had more than 62,000 vessels registered on its territory and it represents an industry that employs more than 100,000 persons. The industry is regulated under the Canada Shipping Act.
Regardless of the type of shipping activity you want to develop here (for passengers or goods transportation) you must know that you must hire accountants in Canada to maintain the books of the company.
The accountants will calculate the taxes due, report to the local financial and tax authorities, pay the salaries of your employees and complete other tasks associated with this profession.
We invite you to contact our consultants if you need information on other matters that can be important for foreign investors.
For instance, we can guide you into participating in the Owner Operator Program in Canada, which is addressed to foreigner investors who have the opportunity of becoming permanent residents if they maintain the conditions of the program throughout the entire duration of the visa.
We can also provide legal assistance to those who want to relocate for work purposes here under the Intra Company Transfer in Canada, a program designed for the employees of overseas companies that have an office in Canada as well.
The program is addressed only to certain categories of employees, who must comply with certain requirements (such as the duration of their employment in the foreign company).