Doing Business in the US or Canada
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Niagara Falls, at the border between the United States and Canada
Getting started
Each State or Province in North America (Canada and US) has its own particular requirements for forming a company, however, some general procedures can be noted for those looking to set up shop in the North American continent! Corporations can also be formed under the laws of the Federal government in Canada. Both the US and Canada have well established, diversified and stable economies, which make them attractive destinations for global businesses at all times.
General Procedures
Most provinces and states have an e-filing option, which means that you can setup your company online, with literally just a computer or laptop. You will have to file corporate documents with the provincial or state department, and pay the filing fee as well, which varies by location. However, the main “setup” of the company’s infrastructure is completed privately, through the creation of corporate by-laws, operating agreements and shareholder agreements. These documents essentially govern the operation of your company, and need not be registered with the government. However, these documents usually need to be signed by all the founding members. In addition, many regions/states may require that you have a local agent for receiving notices on behalf of the company, and maintaining a physical address on file.
Key Facts to be Aware of
Opening a company and establishing a bank account are two separate things. Usually you will have to establish your bank account personally, or have a local founding member or manager personally visit a bank branch to establish the corporate account.
Opening a company does NOT automatically grant you a visa. However, you can apply for a business visitor visa separately, and may have the potential to convert the visa to a temporary residence visa, and eventually obtain permanent residency under certain circumstances.