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Planning To Incorporate Your Business in Ontario?

Read this to get clarity. You’ll get everything you need to incorporate quickly, easily and cost-effectively...

And discover exactly what you need to do, now and in the future.

Should you incorporate?

There are many advantages to becoming a “corporation”. So much so, that for most entrepreneurs, the question is not if, but when to incorporate.

PROS CONS
  • A corporation is a unique legal entity that protects its owner(s) from debts, obligations and liabilities of the corporation.
  • Losses from a corporation can’t be claimed on your personal tax returns.
  • More Tax savings! Small Canadian controlled private corporations are taxed at approximately half the regular rate on the first $500.000 of active business income in each year.
  • Personal expenses cannot be claimed on the corporate tax return.
  • Easier to raise capital because you can issue various classes of shares (dividends, redemption or convertibility) and use bonds or debentures.
  • Incorporated entities must file more paperwork.
  • It’s Easier to Transfer Ownership. All you have to do is acquire or sell shares.
  • Additional fees are required to incorporate your business.
  • Owners are only liable for their investment in the corporation, and unlike partnerships, owners cannot be held responsible for other owners’ personal debt.
  • Most business owners should seek help from a business center, like ours.
  • You can offer shares to employees as a profit sharing incentive - without affecting control.
  • Incorporating a business does involve a few applications and procedures. (see below for details)
  • Incorporated companies can have up to 50 owners.
  • Increased availability of grants and programs.
  • Ability to hold title to real estate and enter into contracts. A corporation can own real estate and sign contracts under corporate name.

 

Free Step-by-Step Guide!

  • You’ll enjoy perpetual succession. A corporation’s existence is not affected by the death or withdrawal of a shareholder.
  • Additional tax planning and income splitting arrangements are available.

CLICK HERE if you are ready to incorporate your business. You’ll be instantly taken to our secure application form.

NOTE: Please select and request the following:

  • Incorporation of your business - Professional Package.
    (Includes the Corporate Minute Book, Seal and Share Certificates)
  • Initial Return Filing
  • HST and Payroll Accounts
  • Website domain name for your business

 

The Seven Steps To Incorporate Your Business
(Exactly What You Need To Do)...

If you are planning to incorporate your business, listed below are the SEVEN things you should do or consider:

  1. How to Choose the Right Corporate Name
  2. Confirming “Name Availability”
  3. Gather The Required Information
  4. Provide a Registered Corporate Address
  5. Filing Articles and Initial Return
  6. Register for HST, Payroll, WSIB
  7. Purchase Corporate Minute Book, Seal and Shares

Step 1 - Choose the Right Corporate Name

Choosing the right name for your new business is an important decision.

You will need to decide if you want a name for your corporation, or use a "numbered company".

There is no requirement for the corporation to have a name, however it is easier for client’s to remember and enhances your business image.

If you incorporate your company using a number (for example: 22563331 Ontario Inc) upon successful registration the Registrar will assign the next sequential number to the corporation as part of its name. A corporation incorporated in this way is a "Numbered Corporation".

Most people prefer to have a “Named Corporation”. A name will give your corporation a unique identity and avoid confusion with other corporations.

When choosing a name, it’s best to choose a distinctive name that is easy to remember, yet stands out from your competitors.

Make sure your name clearly describes the goods or services you provide, and will not mislead or confuse your clients. Select a name that will attract potential customers, help customers identify your company and build a strong business image.

What is a Trade Name?

A trade name is any name under which you do business other than the current legal name on your corporate registration record. If you would like to use any name other than your corporate name you must register a trade name.

These are some important basic principles:

Step 2 - Check Name Availability

Once you have selected an appropriate business name, before you run out and order forms and stationery, it’s wise to do a name search to make sure no one else is using that name.

This can be done in advance or as part of your application form.

If you have a few names in mind, you can do a quick preliminary name search to help narrow down your selection. You can check up to 3 names at a time for only $15 plus tax. Click here to do a preliminary name search now!

Be aware that if you’re incorporating a business in Ontario, a more detailed NUANS search is mandatory. A NUANS search will make absolutely sure that your name is not being used by anyone else. The cost of a NUANS search is $39.95 plus tax per each name you search. Click here to order a NUANS SEARCH now!

You can always select a name search with your Incorporation application. Package details are listed at the bottom of this page.

Step 3 - Gather Registration Information

To register your corporation in Ontario, you will need to provide:

Please note that you need a minimum of one Director and one Shareholder. One person can hold both positions.

Step 4 - Provide a Registered Corporate Address

All Corporations located in Ontario must have an Ontario registered address.

Since corporate records are a matter of public record, most Corporations – especially home-based businesses - prefer to use a separate corporate registered address.

A separate address keeps important government correspondence separate from other corporate correspondence, and helps you maintain an increased level of privacy.

If you prefer to have a separate corporate address, it can be ordered in advance, or as part of your Incorporation order form.

You will receive a registered address for the receipt of government filings, legal papers, as well as all services related to a corporate registered address, including receiving mail and packages, notification and mail forwarding. We can also act as a local contact for government agencies.

We also forward such documents and correspondence to the corporation. The cost for Corporate Registered Address service is $249.00 for one year, plus applicable taxes and an account activation fee of $35.

Click here to order your Corporate Registered Address today! Or order your Corporate Registered Address with your Incorporation application. Package details are listed at the bottom of this page.

Step 5 - File Articles of Incorporation & Initial Return

Incorporation of the business is done by completing a document called “Articles of Incorporation”. It’s a certified document that’s delivered directly to the appropriate government department.

Here is a sample for you to view: PDF or Image

Articles of Incorporation consist of a legal document that confirms registration of your corporation with the Ontario government. They are valid in perpetuity.

Once your application for Incorporation is approved, you will receive the official Articles of Incorporation by mail.

You must also file an “Initial Return”. It’s a mandatory document that must be filed within 60 days after you incorporate you business.

You can request this filing as a separate service, however if you file these documents as part of your Incorporation application, you will save up to 50% of the service fees. Simply select the Incorporation package that’s right for you at the bottom of this page.

Step 6 - Apply for HST, Payroll, Import/Export and WSIB Accounts

Depending on your business activity you may be required to register for additional Ontario business licenses, permits or other government accounts such as:

Any business that generates more than $30,000 in annual taxable sales has to register for HST. If you are planning to trade with other countries, an Import/Export account is indispensible. Plus, any business that has employees must register for a WSIB and Payroll account. WSIB is also mandatory if you operate a business in the construction industry.

All of these accounts can be requested during the application process. Simply check the appropriate check-box on your Incorporation application form. Package details can be found at the bottom of this page.

Step 7 - Purchase Corporate Minute Book, Seal and Share Certificates

A corporate minute book and registers are invaluable organizational tools.

They project a professional image and may be called up should any problems or issues with your corporation arise. View this quick video to learn more about the Corporate Minute Book. View this quick video to learn more about the Corporate Minute Book.

It’s wise to keep your minute book ready and updated at all times. A view of your minute book can be requested by Revenue Canada, a lawyer, or any other authority.

Legacy Minute Book

The Legacy Kit features a high quality leatherette cover with gold detailing and is provided with an accompanying brass minute book plate that permanently adheres to the spine for easy identification. The functional 3-ring binder and slipcase format fits standard 12" shelving units. This quality register comes in a burgundy colour.

 

Attache Minute Book

The Attaché Kit is a stylish, modern approach to organizing a corporation’s papers that appeals to image conscious legal firms and their clients. A high quality black vinyl cover, brass name plate and sturdy well-designed construction provide the lawyer or entrepreneur with a presentation package that reflects the professionalism of his or her firm and client. The Attaché kit comes with the award-winning Mark Maker Embosser in its own section of the case and a built-in handle for convenience.

Both kits come with the award-winning mark-maker embosser, Standard 10 tab set, Corporate Information Summary, a Directors Register, List of Officers, Shareholders Register, Securities Registers and Transfer Registers for Shares, Warrants and Debts, five sheets of blank paper and one set of ten Share Certificates.

The contents of these packages are predetermined to simplify the ordering process.

The mark-maker seal is an award-winning embosser which seals your most important deals and records at the office or at home. It is ideal for identifying legal documents, notary seals publications and books. Features include: Lifetime Warranty, Brass Index Plate, and an Easy-to use Wide-Grip handle that makes a perfect impression each and every time. This corporate seal fits perfectly inside our Attaché Kit package.

We offer two standard packages:

  1. The Legacy Kit package - $159.00 (plus shipping and taxes)
  2. The Attaché Kit package - $159.00 (plus shipping and taxes)

Click here to order your kit now ... or select one of these two packages as part of your Incorporation Application.

What Can You Expect After Registration?

Here is what you will get once your application is approved:

Our Incorporation Packages and Fees

Business Development Centre provides complete incorporation services for Ontario Corporations. The process requires approximately 3-4 business days, and your documents can be delivered anywhere in Canada.

We also provide a 24-hour rush service for those that need same day service - an additional fee will apply. (Some conditions apply so ask us for complete details.)

Professional Package - Ontario Incorporation

(All Inclusive and Most Popular)

Paperwork and Processing fee  
$149.00
Preparation of the Articles of Incorporation
Included
Review of the Articles 
Included
Filing of the Articles 
Included
Nuans Name Search  $59.95
Analysis of the Nuans Search Report 
Included
Articles of Incorporation  $14.95
Corporate By-laws  $14.95
Corporate Minute Book  $85.00
Corporate Seal  $54.00
Share Certificates  $20.00
Government Filing Fee $300.00
Electronic Access Fee:*  $60.00
Shipping & Handling  $15.00
Taxes  $61.47
Total - including government fees and taxes $834.32
   
* We have listed Electronic Access Fee separately in these packages in order to save you $39.00 in HST tax. We hope that you will appreciate saving this money. The total filing fee is still $360.

Standard Package - Ontario Incorporation

Paperwork and Processing fee
$149.00
Preparation of the Articles of Incorporation
Included 
Review of the Articles 
Included 
Filing of the Articles 
Included 
Nuans Name Search 
$59.95
Analysis of the Nuans Search Report 
Included 
Articles of Incorporation 
$14.95
Corporate By-laws 
$14.95
Government Filing Fee: 
$300.00
Electronic Access Fee:* 
$60.00
Shipping & Handling 
$15.00
Taxes 
$40.80
Total - including government fees and taxes
$654.65
     
* We have listed Electronic Access Fee separately in these packages in order to save you $39.00 in HST tax. We hope that you will appreciate saving this money. The total filing fee is still $360.

Basic Package - Ontario Incorporation

Paperwork and Processing fee
$99.00
Preparation of the Articles of Incorporation
Included 
Filing of the Articles 
Included 
Articles of Incorporation  $14.95
Nuans Name Search  $39.95
Government Filing Fee:  $300.00
Electronic Access Fee:*  $60.00
Shipping & Handling  $15.00
Taxes  $29.76
Total - including government fees and taxes $558.66
     
This package is available online only.   
     
* We have listed Electronic Access Fee separately in these packages in order to save you $39.00 in HST tax. We hope that you will appreciate saving this money. The total filing fee is still $360.  

 

You’ll Get Everything You Need To Cut
Through The Red Tape...

We invite you to select the appropriate link below to be instantly directed to our secure application form. Or call us at (416) 649-8721 or Toll Free at 1-877-226-2921 if you require immediate personal assistance.

 

 

 

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