obligations do exist.
An unlimited liability corporation
(ULC) is a special type of corporation
that currently only exists in three of
Canada's provinces: Alberta, British
Columbia and Nova Scotia (not Ontario).
Unlike limited liability corporations
(LLCs), the shareholders of a ULC can
be personally liable for any liabilities
of the company. However, ULCs also
allow some flow-through tax benefits
to shareholders.
consider operating in Canada through
a sole-proprietorship, a partnership or
by purchasing an existing Canadian
business.
for businesses operating in Canada. A
corporation incorporated in a jurisdiction
outside of Canada must obtain an Extra-
Provincial License to carry on business
in Ontario. "Carrying on business"
is defined broadly and covers most
business/commercial activities.
Act, if a business uses a name that differs
from the individual's name (in the case of
a sole proprietorship), the names of the
partners (in the case of a partnership),
or from its corporate name (if a corpo-
ration), it must register that name in
Ontario. This registration is for adminis-
tration purposes, and does not grant any
trademark rights or protections.
Businesses are also required to obtain
a business number from the Canada
Revenue Agency. Employers may also