Business Registration and Incorporation
If you have decided to take the leap in starting your own business, you will have to determine what business structure or form of organization suits your needs. The structure of your business depends on whether you want to run your business yourself or with a partner or associates and if you plan to have employees. There are three types of business structures: Sole Proprietorship, Partnerships, and Corporations.
Once you’ve finalized the type of firm you want to establish, to open up a new business in Ontario, you may need to do the following:
Check for availability of the proposed business name
Register the business name
Apply for an HST number (former GST number)
Apply for a Payroll Account (if you plan to have employees)
Apply for an Import/Export Account (if you plan to trade with other countries)
Apply for WSIB Account (this is mandatory if you plan to have employees)
Register / renew master business license for sole proprietors
Register number / named Ontario corporation
Register number / named federal corporation
Register / renew master business license for a numbered corporation
If you’re heading towards complete incorporation, apart from helping you through the process, we will also provide you with full incorporation kit and help you select a fiscal year-end or calendar year-end and when to incorporate.
During the course of the incorporation, we will help you understand what will happen to your current business losses and future profits and determine what business assets and goodwill should be transferred to the corporation. We will work towards your success by facilitating management decisions and setting up your company books, records and government filings.