Business Incorporation Services Canada
Featuring a business corporation safeguards the owner from different types of legal liabilities. Filing Taxes is a professional accounting firm that aims to simplify the incorporation process for the clients by engaging with them throughout. We are always there to guide them and make them understand the necessary conditions to be fulfilled.
Your Trusted Partner for Confidently Incorporating Business in Canada
With years of company formation experience, Filing Taxes is uniquely positioned to help you get your new business started anywhere in Canada, whether you live here already, or are a non-resident. Filing Taxes provides complete business incorporation services for Federal (Canada), Alberta, British Columbia, Ontario, and Saskatchewan corporations.
For any kind of incorporation in Canada, our company formation agents in Canada are at your disposal with comprehensive information about the registration process and the steps to consider when drafting the documents with the authorities in charge of business registration.
We'll help you incorporate in the best jurisdiction, with an optimal share structure to minimize taxes and provide you the liability protection you need.
Our services for business incorporation Canada are all-time available for business owners throughout Mississauga, Oakville, and Toronto.
Why do we need to incorporate?
Incorporating a business has many legal, financial, and personal benefits. Business incorporation is the most recommended long-term business strategy. It provides a business with long-term stability, a professional reputation and may even make your business more investable.
How do you properly incorporate?
Although the details can differ from state to state, the basic outline of the incorporation process is the same. There is a generic four step-process to incorporate your business
Step 1: Name your corporation
Step 2: Create your articles of incorporation
Step 3: Establish the initially registered office address and first board of directors
Step 4: Submit and pay the fee
Can I incorporate a business myself?
Business owners often decide to incorporate to protect their personal and business assets. You can incorporate your business yourself if you don't want to hire an attorney or an accounting firm. As the incorporation process can be complicated, you might want to seek the help of an expert. Expert advice will help you save time, increase your business's credibility, and protect your assets. A professional accountant can provide the legal advice you need during this process.
How long does it take to incorporate?
The length of the incorporation process varies widely depending on the state in which you choose to incorporate. Corporate formation procedures are fairly similar in each jurisdiction and don't require too much effort on your part. We require 2 to 05 business days to incorporate a company and prepare a corporate minute book with all of the relevant documents.
Our Business Incorporation Service Package:
- Financial review.
- Tax implications of incorporation vs. sole proprietorship.
- Type of business and availability of tax credits.
- Projected income.
- GST/HST filing and maintenance.
- NUANS and Name Search.
- Incorporation and organization of corporations.
- Ongoing minute book maintenance.
- Corporate filings with government authorities
Our business incorporation service package will include comprehensive documentation to satisfy all the legal incorporation requirements.
- Articles of Incorporation – A set of basic documents filed with the Province of Canada to legally document the creation of a corporation
- Defining Share Classes – Your articles of incorporation include multiple classes of shares to allow: (a) the payment of dividends, (b) income splitting with family members, (c) a future estate freeze to minimize estate taxes, and (d) future investors to become shareholders.
- NUANS Report – A report that provides a listing of similar small businesses, corporations, and trademarks to your suggested name. Required to avoid any naming conflicts
- Corporate By-Laws – The rules established to run the internal workings of the corporation, including the relationships between the Corporation, its shareholders, directors, officers, and many others.
- Corporate Minute Book – The official record of the corporation’s activities. The minute book should document all material corporate transactions that affect and involve the corporation.
- Corporate Seal – A corporate seal is a tool used to stamp a company signature on an official document to show the document is certified by, and agreed upon by, the Board of Directors of the company.
- Register of Directors – List of the directors elected by the shareholders, generally stored in the company's minute book.
- Securities Register –Shows the names and addresses of those who are or have been a shareholder; the number of shares held by each shareholder; and the date and particulars of the issue as well as the transfer of each share.
- Register of Transfers – A record of every share transfer.
- Share Certificates – Also known as a stock certificate, it is a documented proof of shareholding in a company.
- CRA Tax Numbers – We will obtain a Business Number and GST/HST Number from the Canada Revenue Agency for your Corporation.
How does a corporation protect my personal assets?
Incorporating your business is one of the best ways you can protect your personal assets. A corporation can own property, carry on business, incur liabilities, and sue or be sued. As a separate legal entity, a corporation is responsible for its own debts. That means creditors of a corporation generally can seek payment only from the assets of the corporation -- and not from the personal assets of shareholders, directors, and officers.
Is it worth it to incorporate Canada?
Incorporating your business in Canada may lead to lower taxes depending on your particular situation and on the province in which you operate. Once the business generates more income than you need for your living expenses, incorporating can save you money.
What's a holding company and do I need one?
A holding company is an incorporated company that is usually used for holding investments, generally shares of another company. It doesn’t participate in any other business activities and is primarily used for tax purposes and to protect your assets. Having a holding company in Canada provides advantages to a corporate group but it may not be a good idea for everyone. If you want to protect your company's cash and assets, consider a holding company. It is recommended to consult your accounting or legal professional for advice related to setting up a holding company in your particular circumstances, due to the number of legal and tax-related decisions you need to consider.
Does a corporation need an HST number?
If your corporation's sales exceed $30,000 in a year, then your corporation needs to obtain a GST/HST number from the Canada Revenue Agency (CRA) and charge GST/HST to customers. Note that certain goods and services are exempt from GST/HST (e.g. medical services, residential rents). In addition, services provided to clients outside Canada are 'zero rated', but are subject to reporting on a GST/HST Return.
Is it better to incorporate federally or provincially?
Whether you choose to incorporate federally or provincially depends on the nature of your company’s business. The main differences between incorporating a business Canada-wide compared to a provincial level is name selection and protection, business reach, annual filings, and cost. Federal incorporation can be an excellent choice if your business needs the nationwide business name protection that federal incorporation provides, or if your business is or will be operating internationally. If your business is and plans to operate primarily within one province, provincial incorporation may be enough for you. Additionally, it costs lower to provincially incorporate your business overall than federally, which makes it a more appealing and cost-effective option.
Do you need a lawyer to incorporate in Canada?
There is no legal requirement that only an attorney should incorporate your business. You can prepare and file the government forms yourself. You may read the government forms and guides if any to assist you.
Can a non-resident be a shareholder of a Canadian company?
Yes, foreign citizens or investors are welcome to open companies in Canada under the same conditions as residents.
How many shares should I issue when incorporating in Canada?
The Commercial Law does not impose a minimum share capital for the registration of a company. However, the company will need working capital.
What taxes do corporations pay in Canada?
The taxation system in Canada is imposed at the federal and territorial levels. The rates also differ and are applied for different thresholds of income, which is why accounting services are recommended.
What is a professional corporation business?
A professional corporation (PC) allows professionals - such as, doctors, dentists, lawyers, and accountants - to provide their services to clients through a corporate entity, rather than personally. We, at Filing Taxes, can incorporate professional corporations.
What is a Canadian Controlled Private Corporation?
A Canadian Controlled Private Corporation (CCPC) is a corporation incorporated in a Province of Canada or Federally and controlled by Canadian residents. CCPCs that run an active business pay a low rate of tax
You're not alone. Choose Us to Incorporate Your Business!
Filing Taxes provides a convenient, cost-effective method to incorporate your business online or through our staff-assisted process. If you decide that incorporating your business is the best course of action, we can help you with all aspects of the process. Our various incorporation packages ensure that incorporating your business in Canada is an efficient, seamless process.
We'll help you file your business in 3 simple steps:
- Answer some basic questions
- We will take care of the paperwork
- Receive your completed filings
For more information about incorporating your business and how we can help, please contact us today. As your incorporation partner, we are committed to providing you with excellent service.
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