What is Canada Business Incorporation?
Canadian business incorporation is considered to be a legal entity that is separate from its owners and shareholders. Canadian businesses can be incorporated at the federal or the provincial level – and I’ll go over the details on that further down. As most people would do the research and incorporate in the Province of Alberta, Ontario, British Columbia. However, in the Province of Alberta, Ontario the rule of Canadian citizenship or permanent residency applies. Hence, it’s also not a great idea to form an Ontario corporation or Alberta corporation if you do not have a person who is a Canadian citizen or permanent resident or you want to share your 25% profits with the Canadian citizen or permanent resident.
Global Virtual Banking
Banking services are currently online international bank details to receive money from over 30 countries around the world that means you’ll get:
• Australian account number and BSB code
• British account number and sort code
• European IBAN
• US account number and routing number
• New Zealand account number
• Canadian account number.
Step by Step Process for Canada Business Registry
Step 1: Chose a Name for your Business
Many e-commerce traders will already have a name for their online store or product. If not kaushikii can search to see if that name is available as soon as possible. If you don’t have a business yet, be careful in deciding on a business name – it’ll be with you for a long time (hopefully).
Step 2: Obtain Business Number (BN) or a NEQ (Quebec only)
• A business number (BN) is a nine digit account number that will identify your company to federal and provincial governments.
• A NEQ (Quebec Enterprise Number) is required in case you’re incorporating in Quebec.
Step 3: Decide to incorporate federally or provincially
The business owner has the choice to incorporate federally or provincially. Federal incorporation allows you to perform business under the same name in all provinces and territories, but the expenses will be at the higher end and a little more work to maintain the compliances.
Federal Incorporation in Canada
If you select federal incorporation you must go through the procedure of incorporation through Corporations Canada. (Corporations Canada administers the CBCA (Canada Business Corporations Act). There are offices in Vancouver, Ottawa, Montreal, and Toronto.)
In order to incorporate federally you must submit the following documents:
• Articles of Incorporation
• Registered Office Address
• Name (The name you have chosen for your company
Provincial Incorporation in Canada
In case you choose provincial incorporation, one has to contact the correct Provincial Registrar. We offer incorporation services, both federal and provincial.
Step 4: Apply for GST/HST
If the expected turnover of your business is $30,000 or more per year, one has to register for a GST/HST account. Merchants with lesser revenue can volunteer register, this will benefit the business because once you have a GST/HST account you can get the taxes to refund you paid as a company.
Note: When making the decision to incorporate, it’s always wise to seek legal advice before coming to any conclusions. Mistakes can be very costly. You can contact our 24-hour customer care on 844 8444 985 hello@corpseed.com
The benefits of incorporating in Canada
The initial process for incorporating is the same no matter where you incorporate in Canada. Federal incorporation offers a company the right to function under its corporate name throughout Canada.
• Rising funding can be easier: It is easy to raise Canadian investors funds and run operation in India, businesses can sell shares and equity to drive growth.
• Raise your reliability and business-worthiness: Most of the businesses won’t enter into sales or contract agreements with un-incorporated businesses. In which case, incorporation business in Canada can improve your credibility and growth potential.
Conclusion
The provincial corporation requires to have a physical address in that province, do not have a registered physical address in BC, we’ll guide you through for physical address in BC (not PO Box), which is used as corporation’s registered address where the government sends documentation on time to time.
As we have the experience and the Knowledge, we will provide you with the step by step instructions for the process and get you the following
• First Directors Resolution
• Director Consent(s)
• First Shareholders Resolution
• Notice(s) of Issuance
• Subscription for Shares
• Securities Register
• Directors Register
• Officers Register
• Shareholders Ledger
• Bylaws
We’ll guide you through the process of incorporation with online tools as a CA consultancy firm for your smooth transition for your company in Canada.
Timeframe: It can take up to 4 weeks depending upon the number of requests are pending the Government office. So, contact us now without any further delay and initiate the process.
Remember, Setup business in Canada requires careful planning and the right advice. So take the time to study incorporation as part of your wider business goals