Cost of registration | The cost of the second year | Number of Directors | Corporate tax rates | Payment of Charter Capital | Financial statements |
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1785.00 USD | 1190.00 USD | 1 | 14.00% | 0.00 | Yes |
REGISTERING A COMPANY IN NEW BRUNSWICKCanada borders the United States, and New Brunswick is in close proximity to Toronto, Montreal, Boston and New York. Offshore zones of New Brunswick are interesting for many beginners and experienced entrepreneurs. Benefits of registering an offshore company in New Brunswick:
ORGANIZATIONAL AND LEGAL FORM FOR REGISTERING A COMPANY IN NEW BRUNSWICKIn New Brunswick, there are four main types of business structuring:
First. Sole Proprietorship is the simplest organizational and legal form. All business functions are performed by one person, and this person assumes all risks and liabilities associated with offshore work in New Brunswick. Second. A partnership is an association of several persons with the purpose of profit making. The laws governing the activities of a company of this type are the Partnership Act and the Limited Partnership Act. Third. The corporation is a more complex type of business structure and often includes higher legal and accounting fees than in cases of Sole Proprietorship and Partnership. Each province has own laws for registering offshore, and New Brunswick is no exception, but there is also Federal corporate law, namely the Canada Business Corporations Act. Types of corporations:
Fourth. Co-operative is an independent legal entity. Its activities are regulated by the Co-operative Associations Act. COMPANY REGISTRATION IN NEW BRUNSWICK: LICENSINGTo start working, companies that operate in certain industries should obtain a license or permit. List of industries:
More information can be obtained at the website of New Brunswick’s Service when intending to register a company in New Brunswick. TaxationTaxation system as of 2019:
Companies pay taxes according to a two-tier system, but small firms are allowed to file a report once a year. Particular advantages of having your company in Canada:
Small enterprises pay small business tax: 9% - federal rate, 2,5% rate of New-Brunswick. OFFSHORE IN NEW BRUNSWICK: INSURANCEInsurance is an important part of any business. If personal responsibility can be born by individuals when dealing with business, it is important to have proper insurance coverage. Enterprises want to protect their assets in the event of a claim to avoid bankruptcy in the event of unforeseen situations. The insurance covers personal liability, as well as the responsibility of a manufacturer, fires, transport fleet, etc., and corporations can even ensure the lives of directors and other employees. It is necessary to develop comprehensive certificates of insurance in accordance with the specific needs of the business. In some industries, civil liability insurance is enshrined in the statute. More information can be found in the Insurance Act (New Brunswick) or by contacting competent Law&Trust International’s specialists who can assist in registering a company in New Brunswick. |
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Square | 72 908.00 |
Population | 751 755.00 |
Capital | Fredericton |
Unemployment | 15.30 |
Telephone code | 1 506 |
Place in the world in corruption | 10 |
location | North America |
Climate | The climate varies from temperate in south to subarctic and arctic in north |
Literacy rate | 99.00% |
Ethnic groups | 65% - English-speaking Canadians, 35% - French-speaking Canadians |
National currency | Canadian dollar (CAD) |
USD exchange rate | 0.99 |
GDP per capita | 22 |
Credit rating | AAA |
The judiciary | Supreme Court of Canada, Federal Court of Canada, the Federal Court of Appeal, Tax Court, provincial / territorial courts |
Executive authority | Head of government: Prime Minister of Canada. Government: Federal Ministry, elected Prime Minister from among the members of his party in the parliament |
Legislative authorities | bicameral Parliament of Canada: Senate (105 seats), the House of Commons (308 seats) |
Opportunity to purchase ready-made companies | No |
Legal system | Common Law, based on English Common Law |
The use of the Cyrillic alphabet in the name | No |
Local registered office | No |
Organizational and Legal Forms | corporation, unlimited liabilility company, sole proprietorship, partnership, co-operative, trust and branch of a local or foreign company |
Local registered agent | No |
Bearer shares | No |
Possibility to issue shares without par value | No |
VAT | No |
Basic corporate tax rate | 14.00% |
Capital gains tax | No |
Currency control | No |
Corporate tax rates details | 4.5% - 10% |
Stamp duty | No |
Minimum number of directors | 1 |
The requirement for residency directors | Yes |
Director of legal entities are allowed | No |
The data reveals to the local agent | No |
Data field to the public registry | No |
The requirement for the presence of the Secretary | Yes |
Requirement to the residense of the Secretary | No |
Requirements to qualification of the Secretary | No |
Legal entity as the Secretary | No |
Minimum number of shareholders | 1 |
Data is entered in the public register | No |
Shareholders residency requirement | No |
Information about the beneficiary is disclosed | No |
Information may be disclosed to the local agent | No |
Shareholders-legal entities are acceptable | Yes |
The requirement for filing reports | No |
Open access to reports | No |
Statutory audit | No |
The requirement for filing Annual Return | No |
Open access to the Annual Return | No |
The requirement for reports | No |
Treaty on avoidance of double taxation (States which signed) | 89 |
Membership in the OECD | Yes |
Is it offshore according to Russian legislation | No |