Happily, this coincided with post-NAFTA North American corporate integration and the tech boom. Category - Nova Scotia (NS). Nova Scotia was by no means the only province to adopt the English legislation; an English model statute was already law in British Columbia and was later adopted by Alberta, Saskatchewan and Newfoundland as they entered confederation. | Novascotia.ca is the official website for the province of Nova Scotia. These applications continue to exist and will be used more as the US economy heats up. Email. Catalogue général des entreprises au Canada, entreprises et organisations du Canada. • Certain Canadian rules make it very difficult for true partnerships with any American members to carry on business in Canada. As a result, the Nova Scotia Companies Act retains features long viewed as anachronistic but that have, especially over the past 10 years, proven most useful. One thing to keep in mind here: if the shareholder of the NSULC is an LLC (as opposed to a C corporation, S corporation or U.S. resident individual), favorable tax treatment given to dividends paid to U.S. corporations under the convention may be unavailable, and much of the benefit of the arrangement will be lost. Even before the “tax”, Nova Scotia had significantly improved its technology, allowing ready access to information over the Internet and rapid turnaround on processing of most requirements. Unlimited companies, if anyone noticed them at all, seemed to be throwbacks to the days before limited liability became identified as a sine qua non of corporate status. Nova Scotia benefits for individuals and families Nova Scotia child benefit. Once a company has been changed from an unlimited company to a limited company, it can be exported from Nova Scotia to another jurisdiction, if that is desirable. Feedback However, perhaps counterintuitively, in the opposite case—giving shareholders of an unlimited company limited liability—the Act has a simple procedure that requires only the passing of a resolution and its filing with the Registrar of Joint Stock Companies. Freedom of Information Act (FOIA) This has not appeared, in most cases, to have affected the overall economics of their use). While an amalgamation is normally a nontaxable event, for Canadian tax purposes, it has the drawback of giving rise to a year-end, which is sometimes problematic. Because the plan of arrangement is more legally complex and involves two court hearings, its use remains primarily for those cases where an amalgamation is not a practical option. While for their own peculiar reasons unlimited companies had seen a renaissance in the United Kingdom during the 1960s, this was well outside the experience of most Nova Scotians, and it seemed unlikely that any similar rebirth would occur here. The Open Database Of The Corporate World. If you plan to do business, start a society or want information about existing companies in Nova Scotia, this section is for you. An NSULC is also a resident of Canada for the purposes of the Canada-US Tax Convention (the “Convention”). There are few complications in looking after unlimited companies once they have been created, and few ongoing ties to the province are required. Certainly Nova Scotia lawyers did not yet recognize what they had to offer and accordingly did not promote them to their American cousins. As a result, the Nova Scotia Companies Act retains features long viewed as anachronistic but that have, especially over the past 10 years, proven most useful. 3328840 NOVA SCOTIA LIMITED *OOS rates calculated based on the most recent 24 months of inspection data per the latest monthly SAFER Snapshot. | Alternatively, of course, the limited company with which it wishes to amalgamate can move to Nova Scotia. Nova Scotia's online service for business provides easy, secure, and convenient access to your business information. Accordingly, any adviser to US companies with interests in Canada, or to Canadian companies with interests in the U.S., will want to consider whether (or, more often, how) his or her client … SAFER Home | No impact on operations. Unlimited companies, like all other companies formed under, While an amalgamation is normally a nontaxable event, for Canadian tax purposes, it has the drawback of giving rise to a year-end, which is sometimes problematic. It allows you to: Apply for licenses and permits from provincial and municipal government. Serving all of the South Shore. Department of Service Nova Scotia and Internal Services. To reduce the impact of liability, it is most common for some sort of limited liability entity to be interposed between the unlimited company and the shareholders’ other assets. 3149411 Nova Scotia Limited is located in Halifax, NS, Canada and is part of the Restaurants Industry. | Last updated March 26, 2008. Nova Scotia Ltd. (3269699) at CIVIC 5900 NOVA SCOTIA B0W 3B0. 3328840 NOVA SCOTIA LIMITED : DBA Name: CHASE MARITIME TRANSPORTATION : Physical Address: 99 WYSE ROAD SUITE-1100 DARTMOUTH, NS B3A 4S5 Phone: (647) 515-1020 : Mailing Address: 99 WYSE ROAD SUITE-1100 DARTMOUTH, NS B3A 4S5 USDOT Number: 3317749 : State Carrier ID Number: MC/MX/FF Number(s): MC-1055073 : DUNS Number:-- Power Units: 1 : Drivers: Having fun repurposing old buildings into modern apartments. Accordingly, Nova Scotia lawyers have recently began using the “plan of arrangement” procedures in the, At this point, we have been involved in conversions of companies from virtually every Canadian jurisdiction. Other than an annual tax/fee of C$2,000, no tax filings (and this includes franchise taxes) are required in Nova Scotia simply because the company is incorporated there, and there is also no requirement that the company have any operations in Nova Scotia. Throughout this period new uses—for example, as part of income trust structures—arose, and previous structures were refined. However, by combining several mechanisms available under the Act, an existing corporation existing virtually anywhere in Canada can be “converted” into an NSULC. We expect that as the US economy rebounds, demand for NSULCs will be substantial. The process involves “continuing” the corporation from its current jurisdiction of incorporation to the Nova Scotia jurisdiction, and then “amalgamating” that company with a shell company (traditionally an NSULC but now—to avoid paying the tax referred to above—most often another limited company) created for that purpose. Stories are listed as a data type on the portal. There are also cases in which the amalgamation can raise other Canadian or US tax concerns. Accordingly, any adviser to US companies with interests in Canada, or to Canadian, companies with interests in the U.S., will want to consider whether (or, more often, how) his or her. Microsoft Edge. • SULC ‘s members avoid the requirement to file their own tax returns in Canada. Nova Scotia, however, is the only Canadian province to not only adopt English model legislation but also to maintain it with most of its original features to the present day. The Nova Scotia unlimited company is the only Canadian entity treated as a corporationfor Canadian tax purposes but also eligible to be “disregarded” for tax purposes in the United States.Accordingly, any adviser to US companies with interests in Canada, or to Canadiancompanies with interests in the U.S., will want to consider whether (or, more often, how) his or herclient can make use of a Nova Scotia unlimited company. 3299979 Nova Scotia Limited, Bridgewater, Nova Scotia. Explore Scotiabank Jamaica products and services which include credit cards, loans, mortgages, banking for small and corporate business Taking place June 29–July 6, the Royal Nova Scotia International Tattoo is the world’s largest annual indoor show of its type. 1200 New Jersey Avenue SE, Washington, DC 20590 • 1-800-832-5660 • TTY: 1-800-877-8339 • | All rights reserved. NAFTA and its predecessor, the Canada-US Free Trade Agreement, have generally made it easier for Americans and Canadians to do business throughout North America without regard to borders, and the Nova Scotia unlimited company, or “NSULC” (sometimes pronounced “ensulk“), has been routinely used to provide tax-efficient structures for cross-border investment. Accessibility USDOT Number: 3317749. Google Chrome, Please try again. Most lenders are now fairly sophisticated about dealing with this liability. There is no evidence that the NSULC was seen, even in the year it was introduced, as having any useful purpose, following the adoption by the Nova Scotia legislature of what was then the state-of-the-art corporate statute, the English Companies Act. The four factors test (really six factors, but only four were ever at issue) allowed an entity to be taxed as a partnership if it “failed” to have at least two of the four indicators of corporate status. (We note that in April 2002, Nova Scotia implemented a “tax” on the formation of NSULCs, which effectively increases the government filing fee to C$3,000. From our newsrooms in Halifax, Moncton, Saint John and St. John's, we break news about the region's most powerful companies, provincial premiers and the pub down the street. Accordingly, Nova Scotia lawyers have recently began using the “plan of arrangement” procedures in the Companies Act to effect such conversions without amalgamation. Law firms are happy to fill both of these roles for a small annual fee. As a Canadian incorporated entity, the NSULC is a resident of Canada for the purposes of the Canada Income Tax Act (the “CITA”) and, as such, is taxable in Canada on its worldwide income. The. 3297848 Nova Scotia Ltd. at 473D WINDMILL RD DARTMOUTH B3B 1B3 NS CA. Learn more about FindLaw’s newsletters, including our terms of use and privacy policy. We expect to see stream-lining of unnecessarily complex procedures (perhaps including limiting those circumstances where court applications are required to effect corporate changes). But even the reduction in cross-border activity, and in M&A transactions generally, since late 2000 has not caused a major slowdown in their use. • Creditors have no direct rights against the NSULC’s share-holders. Nova Scotia, one of the maritime provinces, is best known for its rich cultural heritage and waterfront real estate. & D. ENTERPRISES LIMITED "(Nova Scotia (Canada), 2 May 1977 - , 311 MAIN ST … However, for whatever reason, using NSULCs did not catch on during the ‘80s. Firefox, or Listen now. Manage your business registrations, permits and licenses. Offices will be closed: New Year’s Day – January 1st Maud Lewis Day – February 17th Good Friday – April 10th Easter Monday – April 13th Victoria Day – May 18th Canada Day – July 1st Natal Day – August 3rd Labour Day – September 7th Thanksgiving – October 12th allNovaScotia is the essential daily report on the region's business and political news for more than 11,000 paying subscribers. This benefit is combined with the Canada child benefit (CCB) into one monthly payment.. You do not need to apply for the NSCB. That particular use of unlimited companies fell away as creditors and the public became more comfortable with the limited liability concept when dealing with limited corporations. Only companies incorporated under the Quebec Companies Act (which does not permit continuance out) cannot be converted in this way. 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