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Master Business Licence (MBL), is the former name for an official document issued by Service Ontario which permits business to be operated legally under a specific name. As per current updated name “Business Name Registration” can be registered as per following three types.
- Owned by a single individual
- Owner must have an Ontario address
- Owner must be above 18 years old
- Online filing fee is $99
- Government registration fee is $60
- 1 hour Rush Queue is available
- Owned by an Ontario Corporation
- Order with/without Company Key
- Known as operating name, DBA
- Online filing fee is $99
- Government registration fee is $60
- 1 hour Rush Queue is available
- Owned by two or more Owners
- Must have an Ontario address
- Requires a partnership agreement
- Online filing fee is $99
- Government registration fee is $60
- 1 hour Rush Queue is available
Ownerships and Types
Owned by One Person (Sole Proprietorship): An individual wants to enjoy certain advantages by operating his/her business in a designated business name instead of his/her personal name. These advantages include opening a bank account, developing a brand, or acquiring a municipal permit and more. In this case, the type of legal entity would be “sole proprietorship” in the registration statement. The individual must have an Ontario address and be more than 18 years old.
Owned by One Corporation (Trade Name): A corporation may also register a master business license in Ontario to operate its entire business or a certain department under a different operating name other than its legal name. These operating names are also commonly known as Trade Name or Doing Business As (DBA), or a fictitious name, or an assumed name. Generally, a numbered corporation (ex. 654321 Ontario Inc.) register operating names to have a brand value or publishing on business card or advertising publicly or obtaining a municipal license. Another common reason for which a corporation registers a Master Business License is, to operate its separate department under a separate business name or to have a separate bank account for accounting purposes. The registration statement will show the legal entity type as “Corporation”. The corporation must have an Ontario address and must be registered in Ontario. A federal corporation or non-Ontario provincial corporation can register a Master Business License provided that the corporation is registered extra-provincially in Ontario.
Owned by Two or More Individuals or Corporations (General Partnership): When two or more individuals want to set up an unincorporated business in Ontario, they can register a Master Business License as a form of General Partnership. Alternatively, two or more corporations (or individuals and corporations as partners) can also register a Master Business License in the form of a General Partnership. All individual partners must have address in Ontario and be above 18 years of old. The corporations must provide an address in Ontario and be registered in Ontario.
MBL: Functions and Features
The Master Business License provides the following:
- Registration is valid for a 5 year period.
- The ability to operate a business name within Ontario.
- To open a Bank account, tax accounts, obtain cheques, business cards.
- Advertise and promote the business name.
MBL: Sole Proprietorship
- Name protection against other business names in Ontario.
- Corporate tax benefits.
- Continual registration.
- Flexibility to make changes to the registration.
Ontario Business Name Registration
A Business Name Registration, previously known as Master Business License (MBL), is a registration statement document from Service Ontario, that allows business owners to legally operate their business under the designated name.
Any brands you see advertising publicly, can only legally do so in Ontario by registering for this license.
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