Company Registration in Canada


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Uploaded on May 2, 2020

Category Business

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Company Registration in Canada

COMPANY REGISTRATION IN CANADA www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. Canada is a vast country, North of North America. It borders the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north. Economically and technologically, the nation has developed in parallel with the United States, its neighbour to the south. As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the United States in its market-oriented economic system, pattern of production, and affluent living standards. The country’s petroleum sector is rapidly becoming an even larger economic driver with Alberta’s oil sands significantly boosting Canada’s proven oil reserves. Licensehub.in can assist you in setting up a company in Canada. Canada offers excellent opportunities to Investors from around the globe to set up branch offices, subsidiaries or start-up of Small Medium Enterprise Companies in Canada. With a combination of cultural diversity, inclusiveness, and government support, you can be assured that your business will succeed in Canada regardless of your respective industry. Canawwdwa.pn jhiusb. in hweo arme aegg regtaoto r ptlawtforom woheffire yocui caanl lislt ayonursgelfu asa pgrofeesssio:n alE annd ggelt ilesahds, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. and French. There are two types of incorporation in Canada; provincial and federal incorporation. PROVINCIAL INCORPORATION – what are the main features? • When you incorporate your business in a particular province or territory, you are only entitled to operate your business in that jurisdiction and have no name protection outside that province or territory • If you plan to be operating primarily within one province, provincial incorporation may be sufficient www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. FEDERAL INCORPORATION • Federal incorporation gives your business increased business name protection and wider rights to carry on business • Federal incorporation of your business means that you will be able to do business all across Canada under the same business name, even if some other company is already using a similar name in some province or territory • If you choose federal incorporation, you will need to register your business in any province or territory where you carry on business • Federal incorporation will involve more paperwork every year, as you will need to comply with the corporate filings required by the federal Director of Corporations Branch and all filings required by the provinces that your corporation is registered in • Federal incorporation may cost more • Federal incorporation can be an excellent choice if your business needs the nation-wide business name protection that federal incorporation provides, or if your business is or will be operating internationally www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. FEDERAL VS. PROVINCIAL The primary difference between the two methods are in the: • Protection of company name rights • Ability to conduct business in all provinces • The overall cost to initiate and renew incorporation A Federal incorporation provides wider rights to the business owner. It also offers better protection of your business name. This comes into play if you discover that a business is operating under the same registered name. Your ability to take corrective action varies. It generally depends on how your business is registered and legally structured. Federal incorporation gives you the right to use your business name across all of Canada. It protects you even if there is another business in a different province using the same name. If you register your business only in a single province, you are only protected in that location. If a business is using your name in another province, you won’t be able to register there. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. BASIS OF FDERAL INCORPORATION PROVINCIAL INCORPORATION DIFFERENCE Business Name To file for a Federal With a Provincial Incorporation, many Requirements incorporation, your business provinces will accept a business name as name must be significantly long as there are no exact matches. distinct and will need to be reviewed by Corporations Canada for approval. Annual Filing Depending on the province you Federal registration is usually less Requirements are registered in, you may only expensive at the outset, the annual costs have to file paperwork in certain outweigh these savings in the long run. circumstances. Simplicity A Federal incorporation offers Professionals, particularly bankers, greater protections, but this is attorneys, and accountants may be more offset by increased familiar with provincial corporations. requirements. Extra costs may be associated with each of the filings, such as the annual filings. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. The Advantage of Federal Incorporation The main difference between federal and provincial incorporation is that federal incorporation gives your business increased business name protection and wider rights to carry on business throughout the entire country. Federal incorporation of your business means that you will be able to do business all across Canada under the same business name, even if some other company is already using a similar name in some province or territory. This is not the case with provincial incorporation. When you incorporate your business in a particular province or territory, you are only entitled to operate your business in that jurisdiction and have no name protection outside that province or territory. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. DISADVANTAGES of Federal Incorporation When you read the above information about the difference between provincial and federal incorporation, you may wonder why everyone who wants to incorporate in Canada doesn't just incorporate federally. That may be because the downside to federal incorporation is it takes extra work and money. Although provincial and federal incorporation is an "either-or" proposition, if you choose federal incorporation, you will need to register your business in any province or territory where you carry on business. Federal incorporation will involve more paperwork every year, as you will need to comply with the corporate filings required by the federal Director of Corporations Branch and all filings required by the provinces that your corporation is registered in. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. TYPES OF COMPANY IN CANADA In Canada, there are four basic business structure to do business/trade. The person willing to do business here in country has to choose the good Business Structure as per their requirements to be registered in Canada for operation. SOLE PROPRIETORSHIP It is very easy and inexpensive to register. The regulatory burden is very light and person do have direct control and decision making. In this type of business structure, creditor can make a claim against the individual assets as well as business assets in order to satisfy any debts. PARTNERSHIP It is non-incorporated business that is created between two or more people. In a general partnership, each partner is jointly liable for the debts of the partnership but in a limited partnership, a person can contribute to the business without being involved in its operations.This type of business form is fairly easy and inexpensive to form. Partnership Deed is major document to be prepared and kept safe to avoid any future dispute in business/trade. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. CORPORATION It can be incorporated at the federal or provincial/territorial level. It is incorporated with legal recognition having a capability of ownership to be transferable. It is separate from its shareholder as far as separate legal entity is concern. As a shareholder of corporation, shareholder will not be personally liable for debts, obligation or acts of the corporation. It is preferred form of business as it is of limited liability, continuous existence and easier to raise capital than it might be with other business structure. COOPERATIVE It is owned and controlled by an Association of members (AOM). It can be set up as a profit or as a not for profit organization. It is good to established as it is most democratic form of Business due to Democratic Control (like One Member One Vote). It has limited liability with the ownership and controlling by its members. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. STEPS TO CONSIDER BEFORE PLANNING BUSINESS A. Planning a business Person required to plan the form and manner of operation of entity as a whole business plan, is most before move to any required steps/procedure to incorporate the business. B. Choosing Business Name Next job to person who is planning to do business in Canada, required to choose proper name of Business and need to follow consistently with all the communication and business operation. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. C. Registering your business with the government The next important matter for business structure is to register it with concern department for commencement of job. D. Applying for permits and licenses Irrespective of form/ structure of business, entity is required to obtain the permit and licenses as required by regulatory framework of Canada. E. Getting business support and financing Last but not the least, as a universal truth of business it is the step to be followed at any cost i.e. business support and financing for the same. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. COMPANY FORMATION PROCESS IN CANADA www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. Step 1: Naming of Business It must be such unique and easy to remember, and should describe the products and services the business provide. Step 2: Business Number Register person required to obtain Business Number to identify your business to federal, provincial and municipal governments. This Business number will be used for dealing with the government regarding GST/Harmonized Sales Tax (HST), payroll, import/export and other activities. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. Step 3: Incorporation It can be done federally or provincially. Both means either paper mode or online are available for incorporation. Name Search: The name once approved will last for maximum 90 days and it will expire. Meaning thereby person registering corporation required to full fill other credentials within 90 days of Name Search. Article of Incorporation: It need to be signed by the incorporator(s). If incorporator is a company then article must be signed by an individual authorized by that body. Person can file Article of Incorporation through Online Filing Centre or Complete Form 1 where person need to state proposed name, province or territory in Canada, share structure and restriction on share transfer, number of directors etc. Language of Articles: It can be either French or English or both. Provide initial registered office address which can be used for further communication and first board of Directors. Filing the appropriate form and paying the fee as per Canada Business Corporation Act. Filing Incorporation documents cost 200USD or 250USD for online and paper mode as the case may be respectively. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. Step 4: Processing of Application After all the above steps, the Corporations Canada will analyses and make sure Article of Incorporation have been properly and appropriately completed and that the proposed name is acceptable. Applications will be complete if it includes all necessary documents, forms are complete and signed and fees is included. Step 5: Provincial and territorial registration Registration is different from incorporation. If you run business, have an address or offer product or services other than incorporated address, required to take registration within a week after incorporation in each province to have permission of doing business/trade. Step 6: Obtain Business Number or permits and other requirements As per the Canada Revenue Agency (CRA), any person doing or running business either in province or federal required Business Number for GST/Harmonized Sales Tax (HST), Payroll deductions, corporate income tax, import and export duties and taxes. Some of Municipality also required permits to operate business on that locality like license of alcohol for restaurant services etc. www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715. THANK YOU www.pnjhub.in we are aggregator platform where you can list yourself as professional and get leads, you can list for chat with customers and also list empty office space. www.licensehub.in we are providing more than 150 license and approval services on one platform. Contact Paras Mittal, Mb 9971002715.