Newfoundland and Labrador is a Canadian province on the north eastern coast of Canada. It is bordered in the north by the Atlantic Ocean, in the south by Quebec, New Brunswick and Nova Scotia, to the east by the Atlantic Ocean and to the west by Quebec. Its capital is St. John’s.
One of the main industries here is mining. Newfoundland and Labrador contribute to no less than 50% of Canada’s iron ore production. Fishing, oil production and manufacturing as well as service industries such as health care, public administration and financial services complete the economic make-up of the area.
- TYPE OF COMPANY: Corporation
- COMPANY LAW: The Companies Act 1931 – 1993 (as amended)
- SUFFIX TO DENOTE LIMITED LIABILITY: Limited, Ltd, Corporation, Corp, Incorporation, Inc.
- DIRECTORS: Minimum one who must be Canadian resident – we can provide (corporate directors not allowed)
- SECRETARY: Yes who can be of any residency or nationality, either a natural person or corporate body – we can provide
- SHAREHOLDERS: Minimum one – we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: CD$1
- OWNERSHIP: 100% Foreign ownership allowed
- TIME TO INCORPORATE: 1 day
- REGISTERED OFFICE: Required in Newfoundland and Labrador – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes
- DISCLOSURE: Yes
- TAXATION: Varies from Nil% to 14%
- GOVERNMENT LICENCE FEE: Minimum US$ 150
- DOUBLE TAXATION TREATIES: 86
- LANGUAGE OF DOCUMENTATION: English and French
If you would like further information on setting up a company in Newfoundland and Labrador or the formation of a Newfoundland and Labrador company or other Newfoundland and Labrador corporate entities or require professional advice relating to taxation or the structuring and requirements of a Newfoundland and Labrador company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Newfoundland and Labrador.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.