Limited partnership LLPCanada · British Columbia
What it takes to form, own and run a limited partnership in Canada · British Columbia, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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(1) A limited partnership is formed when there is filed with the registrar a certificate, signed by each person who is, on the formation of the partnership, to be a general partner.
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Register a limited partnership ($165 fee) or limited liability partnership ($275 fee) using one of the following forms. ** This is a paper filing only.**
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All income and losses are flowed out to the partners who report their share of the partnership's income on their income tax return (whether it is a T1, T2, or T3 return).
Form it
Who registers it
- Registry
- Formed without visiting
- Yes
- Formed online
- No
What it takes to form
- A notary
- Not required
- A resident director
- Does not apply
- Paying up the capital
- A limited partner may contribute money and other property but not services (Partnership Act s.55(1)). The certificate states the aggregate cash and the fair value of other property to be contributed, and any additional contributions with their timing (s.51(2)(e)-(f)); a limited partner is liable to the partnership for the difference between the contribution actually made and the amount stated in the certificate, and for any unpaid contribution agreed in it (s.63(1)).
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(1) A limited partner may contribute money and other property to the limited partnership, but not services.
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- Not stated
The registry’s and the law’s own pages do not mention it.
- A local company secretary
- Does not apply
- A local registered agent
- Not required
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(1) A limited partnership must have a registered office in British Columbia.
Each year, at the registry
Not in our records Annual registry fee, Accounts on the public record, Audit for a small company, Audit: none of these is in our records for the LLP.
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the LLP are in our records.
What is public
- Shareholders
- Public
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in the case of the list of names and addresses of the partners, any other person.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Through owners
A partnership does not file an income tax return and is not taxed at the partnership level; the partners report their shares.
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All income and losses are flowed out to the partners who report their share of the partnership's income on their income tax return (whether it is a T1, T2, or T3 return).
- CFC rules in Canada
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Dissolution is declared on form REG 791 (Declaration for British Columbia Limited Partnership): the dissolution box is ticked, the dissolution date and original registration number entered, and the form mailed to BC Registry Services. The Partnership Act requires the certificate to be cancelled when the limited partnership is wound up, or when no person remains a limited partner (s.69).
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DISSOLUTION : Check applicable box, record
- Statutory fee
- Free
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Dissolve Limited Partnership No charge
Every business in Canada · British Columbia
GST
- The tax
- GST/HST (goods and services tax, harmonized with provincial tax in participating provinces)
- Standard rate
- 5%
The federal GST is 5%. HST replaces it at 13% in Ontario, 14% in Nova Scotia and 15% in New Brunswick, Newfoundland and Labrador and Prince Edward Island; Quebec charges the 5% GST plus QST of 9.975%, and other provinces charge the 5% GST plus their own retail sales tax.
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GST/HST and PST rates Province GST and HST PST Alberta 5% 0% British Columbia 5% 7% Manitoba 5% 7% New Brunswick 15% N/A Newfoundland and Labrador 15% N/A Northwest Territories 5% 0% Nova Scotia 14% N/A
- Other rates
- 0% Zero-rated supplies, such as basic groceries
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A zero-rated supply has a 0% GST/HST rate throughout all of Canada. For example, basic groceries are taxable at the rate of zero (0% GST/HST) in every province and territory.
- Registration threshold
- CAD 30,000 · about €19,013
total revenues from taxable supplies in Canada, including zero-rated supplies; a single calendar quarter or four consecutive calendar quarters
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You do not exceed the $30,000 threshold Footnote 1 over four consecutive calendar quarters.
- Voluntary registration
- Yes
A small supplier may choose to register voluntarily if it makes taxable sales, leases or other supplies in Canada.
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You may choose to register voluntarily if you make taxable sales, leases, or other supplies in Canada.
- A foreign company
- The same threshold applies; no local representative required
A non-resident carrying on business in Canada registers under the normal regime only if it makes taxable supplies in Canada and is not a small supplier, so the $30,000 threshold applies to it; a non-resident that does not carry on business in Canada may still have to register under the simplified regime. No representative is required, but a registrant without a permanent establishment must generally give the CRA a security deposit.
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Non-residents who carry on business in Canada must register for the GST/HST under the normal GST/HST regime if they make taxable supplies in Canada and are not small suppliers.
- Returns filed
- Depends on the business
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Assigned and optional reporting periods Annual taxable supplies threshold amounts Assigned reporting period Optional reporting periods $1,500,000 or less Annual Monthly, quarterly More than $1,500,000 up to $6,000,000 Quarterly Monthly More than $6,000,000 Monthly Nil
- Tax authority
- Registration page read 2026-10-22
Payment and banking services
3 services name Canada on their own list: Paysera, Airwallex, Stripe. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Limited partnershipDerived our grouping, the same words in every country
- Name in law
- Limited partnership (LLP)
- ISO 20275 code
- 23V9Secondary GLEIF, Entity Legal Forms code list