There are several types of structures one can open in Canada, among these corporations being the most sought by foreign investors. These types of companies are used for commercial purposes, however there are solutions for those who want to set up entities for non-commercial purposes, such as charities and foundations.
Below, our company formation agents in Canada explain how to open a foundation and its main advantages.
There are two main types of foundations one can establish in Canada:
Canadian charities can further be divided into public or private foundations which are registered with the Charities Directorate within the Canada Revenue Agency. The same registration requirements apply to non-profit organizations which are very common in Canada.
Our company registration advisors in Canada can offer more details on these types of foundations.
Canadian foundations can be registered by submitting one of the following constitutive documents with the Canada Revenue Agency:
It should be noted that the constitution or the trust document must be drafted when registering a charitable foundation. In the case of private and public foundations, the only document required is the trust document. Those who set up the Canadian foundation can also include a copy of the bylaws (if these exist) when filing for incorporation with the Agency.
Another interesting fact about foundations is that just like Canadian companies they can be registered at federal or provincial level.
There are various advantages related to the creation of a foundation in Canada. Among these, we remind the following:
For assistance in opening a foundation in Canada, please contact us. We remind you that we can also help you in starting a company in Canada.