Which Structure Should I Choose?

Hello;

I am starting an umbrella company that will consist of real estate, securities investing; and different website firms

The company will be the top of the pyramid so-to-speak.

I am located in Canada and the business will all be conducted within Canada.

I was looking into LLCs and Corps.

Any suggestions??

Thanks!!!

 

What do you think the advantages of an umbrella corp is? I am interested to know.

As I see it, why put all your eggs in one basket? Then if one of your real estate properties injures someone and they sue you, they can get their hands on your websites and securities too.

 

Watch out for tax issues. If this company is deemed to be a 'holding company' it will attract tax at the highest marginal rate in Canada.

I would recommend getting some tax advice or at least googling it, if you haven't already.

I think corporations are the standard in Canada, not sure why one would consider a LLC (is LLC not the U.K. term for what Canadians call a corporation).

PS I have my corporations taxes done by a Chartered Accountant every year, it costs me about $1500.

 

I understand that, however with an Limited Liability Company, one's asset/s under the title are not seen by 3rd parties.

So, if an individual gets injured they cannot sue me for anything that is under my company.

Now, which sort of corp. is beneficial to me? C or S etc. etc.??

Thanks,

 

Seriously now, if you plan on investing ten's if not hundreds of thousands of dollars (real estate, securities, etc...) then shell out a few hundred bucks to talk to a real lawyer.

 

Yeah I have meeting with one on wednesday and was hoping I can get some quick advice on here before I go off.

There must be people on here that are doing what I intend on doing.