Canada Business Incorporation

To define, company registration in Canada talks about creating a legal entity independent of the authorities, such as owners and shareholders. This legal entity is also popularly known as a Corporation with its sets of liabilities & obligations. A business owner can protect their finances in case of legal disputes or financial difficulties by including a personal liability limit in the Company.

However, if you are wondering about Canadian business Incorporation and ways to pursue it, you have reached the right destination. Allow Corpseed to assist you in the process. 

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, as most people would research and incorporate in the Provinces of Alberta, Ontario, and British Columbia.

However, the rule of Canadian citizenship or permanent residency applies in the Province of Alberta, Ontario. Hence, it is 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/permanent resident or with whomsoever you wish to share your 25% profits.

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.

• Raising funding can be easier

Raising Canadian investors' funds and running operations in India is easy; businesses can sell shares and equity to drive growth.

• Raise your reliability and business worthiness

Most businesses would not enter into sales or contract agreements with unincorporated businesses. In this case, incorporating a business in Canada can improve your credibility and growth potential.

• Credibility & Trust

Incorporating in Canada makes your business more credible as well as trustworthy. Canadian corporation even attracts investors, customers and suppliers, who contribute to the long-term success of the business just by fulfilling the criteria set by corporate governance. This can lead to increased trust and confidence in the business, positively impacting relationships with stakeholders and attracting potential partners or investors.

• Government grants & incentives

Canada serves as a magnet and a hub for government-related grants and schemes, which encourages innovation & growth of the business. These benefits help fund research and development, hire and train employees, and expand into new markets. By incorporating in Canada, businesses can take advantage of these programs and boost their growth potential.

Therefore, the above points are several reasons to incorporate them in Canada. No wonder it is a storehouse of limitless opportunities and guides your business growth.

Every business applicant for Canada must submit the following documents along with the corporate registration application to further his candidature to the Authority:

• Articles of Association of the Applicant Business
• Lease Agreement of the chosen Office space
• Title Agreement of the Registered Office Space
• BoD Details (Board of Directors)
• Federal Business Number from Canadian Authority for corporate transactions
• For Foreign Shareholders, Proof of Residence
• Address
• Visa
• Passports
• Other relevant information
• Proof of Identity for the Company's shareholders, translated as well as notarized
• Certified copy of the Passport & Visa of the applicant
• Paid-Up Capital Details for Company Incorporation
• Applicant Company's Founders Details, such as:
• Details of the applicant Company's managers and their corresponding identification proofs and appointment letters
• Company Registration processing fee receipt
• Fit and Proper Criteria of the Appointed Managers
• Board Resolution, if needed.

You might be wondering how to undertake the Canada Company incorporation and register a company in Canada to get the registry. To do so, let us look at the following steps involved-  

Step 1: Choose a Name for your Business

• Many e-commerce traders will already have a name for their online store or product. If not, Corpseed can search to see if that name is available soon. 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 a Business Number (BN) or an NEQ (Quebec only)

• A business number (BN) is a nine-digit account number that will identify your Company to federal and provincial governments.
• IF YOU ARE INCORPORATING QUEBEC, an NEQ (Quebec Enterprise Number) is required.

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. Still, the expenses will be higher, and maintaining compliance will be a little more work.

Therefore, you require these documents, when registering a company in Canada.

Federal Incorporation in Canada

If you select federal incorporation, you must go through the incorporation procedure through Corporations Canada. (Corporations Canada administers the CBCA (Canada Business Corporations Act). There are offices in Vancouver, Ottawa, Montreal, and Toronto.)

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
• If you choose provincial incorporation, you must 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 to register; this will benefit the business because once you have a GST/HST account, you can get the taxes refunded you paid as a company.

Note: When deciding to incorporate, seeking legal advice before coming to conclusions is always wise. Mistakes can be very costly. You can contact our 24-hour customer care at +91 7558 640 644 hello@corpseed.com.

The provincial corporation requires to have a physical address in that province. Suppose you do not have a registered physical address in BC. In that case, we will guide you through a physical address in BC (not PO Box), used as the corporation's registered address, where the government occasionally sends documentation.

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 will guide you through the incorporation process with online tools as a CA consultancy firm for a smooth transition for your Company in Canada.

Timeframe: It can take up to 4 weeks, depending upon the number of requests pending from the Government office. So, contact us now without any further delay and initiate the process.

Remember, setting up a business in Canada requires careful planning and the right advice. So, take the time to study incorporation as part of your wider business go.