Today, Canada is one of the top destinations for business incorporation thanks to many advantages: very supportive policies, transparent government procurement practices, low corruption as well as favorable tax cuts on R&D.
1. Name your company:
You need to start by deciding on how you want to name your corporation.
You can choose between having:
- A word name: a name that is made up of letters and symbols.
Note: In order to get a word name, you need to choose from custom incorporation when incorporating online.
- A numbered name: a name that has numbers, which is
the simplest way to name your corporation.
2. Create your articles of incorporation:
In case you will be incorporating a small, private business, you should consider choosing the basic incorporation.
There is also the pre-packaged incorporation option, where your corporation will have: pre-determined articles of incorporation, one class of common shares, 10 directors as a maximum, and an assigned, numbered corporate name.
You can also manage your articles of incorporation in the most suitable way for your company. You can choose from the custom incorporation and specify:
- your corporate name
- your share structure as well as any restrictions on share transfers
- the number of directors within the corporation
- the restrictions that you might want to set for your business or business activities
Note: Your articles of incorporation can be in the official language of your choice.
3. Establish the registered office address and the first board of directors:
- The registered office: Make sure to choose an address where you can ensure receiving any documents sent there.
Note that, legally, all those documents sent, will be considered as received by the corporation.
- Corporation’s board of directors: Start by checking the Director’s requirements and to make sure that your directors meet the eligibility criteria.
You will need to mention each director’s first name, last name, address, and indicate whether or not they are Canadian residents.
4. Submit application and pay fees:
You can submit your application in a fast and simple way by using the Online Filing Centre.
The application can be by email or mail using a PDF form that is available upon request. You can find more information here.
These fees of business incorporation in Canada are variable depending on different factors.
You can find a detailed list of fees here.
|1.Goverment of Canada, accessed October 2020, https://www.canada.ca/en.html|