Doing Business in the US or Canada
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Getting started
In North America, both the United States and Canada offer unique regulatory landscapes for company formation, with each State or Province having its own specific requirements. However, there are some common procedures that can guide you in establishing a business on the continent. Additionally, in Canada, businesses can opt to incorporate under federal legislation. Both the US and Canada boast robust, diverse, and stable economies, making them consistently appealing destinations for international enterprises.
General Procedures
Most provinces and states offer e-filing options, allowing you to set up your company online using just a computer or laptop. You will need to submit corporate documents to the relevant provincial or state department and pay the applicable filing fee, which varies by location. While the foundational setup of your company's infrastructure, including corporate by-laws, operating agreements, and shareholder agreements, is handled privately, these documents do not require government registration. However, they must be signed by all founding members. Additionally, many regions or states may mandate the appointment of a local agent to receive official notices and maintain a physical address for the company.
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.