Forming An LLC In Canada or the US? Consult a Commercial Lawyer First

Whether you’re forming and registering an LLC in Canada or the U.S, it’s important to understand that the two jurisdictions work differently in terms of Limited Liability Companies. Visit Pace Law Firm's website for more information.

Show Notes

Setting Up An LLC In Canada? One Minor Problem. As the name suggests, limited liability companies (LLCs) protect the private assets of owners against business-related liabilities, but LLCs don’t actually exist in Canada. The closest equivalent is a ‘corporation,’ which offers similar protections, but not exactly the same.

As Toronto-based Pace Law Firm explains, many US and Canadian businesses wishing to set up a cross-border presence aren’t aware of those differences, which can create problems. The best way forward, therefore, is to engage with a specialist commercial law firm that can guide you through all the options.

Like an LLC, a Canadian corporation offers a clear separation between personal and business assets, which is often viewed as advantageous, particularly in times of economic uncertainty. However, incorporating a business can also have some disadvantages, many of which relate to tax.

The current geopolitical turmoil may make you believe that incorporation or an LLC is the ideal way forward, but that might not necessarily be true. You have access to several other options, such as a joint venture, a professional corporation, or a partnership, and expert legal advice can help you make a more informed decision.

“Choosing the correct corporate structure/entry is one of the first stages in starting a business or investing,” a company representative explained. “Our team of seasoned legal professionals at Pace Law Firm will support you throughout the entire process, providing guidance at every step to ensure a successful outcome.”

Setting Up An LLC In The USA? Just like Canadian corporations, you might view an LLC as the dream ticket if you’re setting up in the US, and for many businesses, that’s true. However, a specialist commercial lawyer, like those at Pace Law Firm, can walk you through a range of other choices, such as sole proprietorships, partnerships, or C-Corps and S-Corps.

“Overall, the legal advice/assistance that we’ve received from Pace Law firm has been exceptional,” one client recently stated. “A noteworthy ‘thank-you’ to Pranjali Sapale for her outstanding service.”

Check out the description to learn more! Pace Law Firm City: Toronto Address: 191 The West Mall Website: https://pacelawfirm.com

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