What is a limited liability company (LLC) in Canada?

In Canada, the equivalent of a Limited Liability Company (LLC) is known as a “Corporation.” If you’re a business owner or entrepreneur looking to establish your business with limited liability and various tax advantages, understanding the process of incorporating your business is essential.

Can I create a limited liability company in Canada?

You cannot create a Limited Liability Company in Canada, however, you can still use a US LLC to conduct business in Canada. Generally, for tax purposes in the United States, an LLC with one member is considered a disregarded entity. The phrase disregarded entity means that LLC is disregarded as an entity that is separate from its owner.

Is a Canadian corporation an LLC in Canada?

In conclusion, a Canadian Corporation serves as the equivalent of an LLC in Canada, offering limited liability protection and various advantages for businesses. To navigate the intricacies of incorporating your business in Canada and make informed decisions, reach out to Falcon Law PC for expert legal guidance and support.