Setting up a company in Canada as a non-resident
Note: a lot of this is relevant to setting up any kind of corporation in Canada. See Startup for more like this
I was asked:
have you come across any entrepreneur-friendly turnkey upstart-administrartor-as-a-service that does it all (similar to Stripe Atlas, Gust, Clerky (registration, virtual address/mailbox scanning, bank account opening, tax filings, proxy directors, renewals) — or do you still have to cobble together piecemeal clerks and law firms?
There is no turn-key service.
There are no virtual address / mailbox things in Canada that are usable / price effective. Just searching this again to see if anything changed, and it turns out one of the providers is just up the street from me https://www.esnail.ca/box.html/
You can’t open a bank account anywhere in Canada without being physically present with the major banks. You might be able to open a KOHO https://koho.ca or Tangerine https://tangerine.ca (got started by ING, now owned by Scotiabank).
The list of Canadian banks that more directly integrate with TransferWise is probably a good starting point for “innovative” forward looking banks.
- Direct debit (personal accounts only) - https://transferwise.com/help/14/currencies/2955293/canadian-dollars-direct-debit
- Register as online bill payment, which should work with business accounts too https://transferwise.com/help/15/paying-for-your-transfer/2877011/adding-transferwise-for-online-bill-payments-in-canada
Get some setup consulting from Sprout, and then have them do your corporate taxes at year end.
For a consulting oriented corporation (i.e. you’re not a startup who is going to take in outside investors) you really won’t need much for ongoing legal work. As needed, I use Samuel Osei https://soseilaw.com/ for my personal corporation, and he’s been good. For more “startup law”, I have people I can recommend at Osler and LaBarge Weinstein.
A “regular” corporation is going to be the easiest. In Canada, BC doesn’t have a residency requirement for Directors. We’re the closest to the “Delaware” of Canada. There are no LLC-like structures in Canada.