Main steps to register a business in Canada are the following:
1. Planning your future business by selecting a business structure, doing your market research and preparing a business plan;
2. Choosing a good business name by checking whether a name has been taken and registering it;
3. Registering or incorporating your business and applying for a business number or tax account.
4. Applying for business permits and licences (if necessary)
How to register a business in Canada?
Other important issues to consider are:
Once you have found relevant, available name, you’ll need to register your business name with the Canadian government
Opening a business bank account
Hiring employees and understanding tax implications
Five most common types of business structures in Canada are:
Sole proprietorship: You will be the sole owner of your company, but you will be personally liable for any debts it incurs.
Partnership: This form of business is owned jointly by two or more people. Each partner owns a percentage of the company based on their investment and activity, and they share the risks and losses accordingly.
Corporation: A corporation is a legal body that exists independently of its owners. Unlike a sole proprietorship or partnership, your business income will be taxed at corporate rates, and you won't be personally liable for debt or losses.
Cooperative: A group of individuals controls this incorporated business form. The founders do not profit, and any profits are distributed among the members or reinvested in the company.
Non-profit: Charities, NGO’s, etc.
You may also wish to register a trademark to better protect your brand name.
Incorporated businesses are legally required to open a business bank account under the registered business name.
While most businesses don’t require federal or provincial licenses, you might need to get certain business licenses and permits at the municipal level. Certain businesses are required to get zoning and building permits as well.
Our agents are located in Ontario and have full access to Ontario and Federal corporate registrars. We also can facilitate incorporation in British Columbia and Alberta.
Upon completion of the incorporation steps, you will have a fully operational and legally compliant corporation in Canada. The duration of the process depends on the province.
Our professional fees are all inclusive and, we do not charge separate fees for various inevitable stages of incorporation (such as name approval, business number, minutes book, etc).
There are additional services that might be required such as opening a bank account, establishing your bookkeeping practices in conformity with the Canadian standards, annual tax reporting and more – we will be glad to discuss these with you as well.
Other services, such as employment, payroll, accounting, governance, legal documents, tax planning could be provided by our in-house professionals saving you the hassle of searching for new providers for each and every task that your company will require in the future.
If you wish to have a clear knowledge of your chances to register your branch and possibly immigrate to Canada, the processes, timelines, contact our offices to book a consultation.