How to Register a Corporation In Ontario Online
What is an Ontario Incorporation?
An Ontario Corporation is a company registered with Service Ontario under Ontario Business Corporations Act (OBCA). It can legally carry out business activities in Ontario. One of the key benefits to register a corporation in Ontario is limited liability protection for shareholders and corporation’s name protection in Ontario.
Why is it Beneficial to Register a Corporation in Ontario?
- One of the primary benefits of incorporating is limited liability protection. Shareholders of an Ontario corporation are typically not personally liable for the debts, liabilities, or obligations of the corporation. This means that personal assets of shareholders are generally protected from business-related risks and creditors.
- You can easily make changes in your company when you register a corporation in Ontario: Corporation Name Change, Change Corporation Structure, etc.
- Ontario corporations may benefit from certain tax advantages, including the ability to access the small business deduction rate on active business income, which is lower than the general corporate tax rate.
- The corporation can continue to exist even if shareholders change or pass away.
- Corporations may find it easier to raise capital and attract investment compared to sole proprietorships or partnerships. Investors and lenders may be more willing to invest in a corporation due to its limited liability structure and potential for growth.
Who Can Register a Corporation in Ontario?
- One or more individuals above the age of 18 can register a corporation in Ontario.
- Must have a physical address in Ontario. If you don’t have a local provincial address, we provide a registered address and mail scanning service:
- No residency requirement is needed for incorporation in Ontario.
What are the Steps to Register a Corporation in Ontario?
Step 1. Name your corporation.
Choose if you want a numbered or a named corporation:
- A numbered name is the simplest way to name your corporation because the government assigns the number (for example, 12345678 Ontario Inc.).
- Your company can be named and have a unique name that sets you apart from your competition.
- Please include the legal suffix like Inc./Ltd./Corp. at the end of your name. at the end of your name when you register a corporation in Ontario.
- An Ontario NUANS Reservation Report is required to register a Named Corporation. You can obtain a NUANS Report here.
Step 2. Select your articles of incorporation:
This step establishes the structure of your Ontario corporation. Choose the right share structure when you register a corporation in Ontario:
- Basic: one with unlimited common shares with no specific share class.
- Standard: common shares with class A voting and class B non-voting.
- Custom: this share structure allows to categorize shares into many types such as common, preferred, voting, non-voting etc.
Step 3. Establish the office address.
- Registered office address must be a physical address in Ontario
- Mailing address can be a P.O. BOX.
- You are allowed to have a legal land description address too but must have a P.O. Box connected to it.
- If you don’t have a local provincial address, we provide registered address and mail scanning service.
Step 4. Decide who will be a director, shareholder, officer and Incorporator.
Director – is the head of the corporation. You can add up to 10 directors.
Shareholder – owns the corporation and receives profit from the business as dividends and shares.
Officer – is anybody including an employee, no decision making power.
Incorporator – is the person under whose authority the corporation is created. Is not changeable.
Mandatory items to run a business.
- Minute book: consists of bylaws, share structure, minutes & other legal sections. Without it, a corporation is not complete.
- Initial Return: It’s a mandatory filing with Service Ontario for each new corporation. It has to be filed within 60 days of Incorporation. It confirms the details of the corporation. It is not a tax filing with CRA.
- Business Number: It is a unique identification of your business with the Canada Revenue Agency. It is required to register accounts like GST/HST, Payroll, Import/Export accounts. You will receive one when you register a corporation in Ontario.
- Corporate Tax ID: It is like a SIN number for a corporation.
- HST Registration, Harmonized Sales Tax: If you are selling goods and collecting HST you must have an HST account. every time a business incurs an expense – be it rent or paying for goods – it pays HST, if you set up the account, you can claim it back.
- Payroll Account: If you have employees, including yourself, you must set up a payroll account.
- Import/Export: If your goods or raw materials cross the Canadian border, you are required to clear customs using the Import/Export account.
- WSIB Account: It’s the Workplace Safety and Insurance Board registration. If your corporation has employees (except directors and shareholders) you must register for WSIB.
- Annual Return: A corporation must file its Annual Return with the Government every year to keep it active. You may add Annual Return to your package to avoid the risk of forgetting it. We will take care of it!
You can find out more information about annual return here:
How Do We Process the Order When Register a Corporation in Ontario?
- We start by verifying the payment and reviewing the order to ensure an error-free application.
- For named companies, we conduct name searches, make reservations, and obtain name approval:
- Next, we prepare the application and articles of incorporation.
- Before we register a corporation in Ontario, we send a draft for a final check.
- Once approved, we register the corporation according to the chosen queue and promptly email all registration documents to the customer.
- Finally, we complete any additional services of the incorporating in ontario included in the package, such as initial returns and CRA accounts
Timeline of Incorporating in Ontario
The standard incorporation time for an Ontario Corporation is one business day. However, for an additional fee, we can expedite the process and complete it within just two business hours. Please be aware that the turnaround time of incorporating in Ontario is until 3 p.m. EST. The processing queue includes incorporation and emailing the Certificate, Articles and Electronic Minute Book (if included). The remaining processes in this package like Business Number, CRA programs accounts set up, WSIB registration, etc. are initiated after incorporation processes.
What Will You Receive When the Ontario Incorporation is Done?
After the registration is completed we will send you a Certificate and Articles of Incorporation and an Electronic Bylaws & Minutes (if included) by an email.
Why Choose Online Business Registry?
- Online Business Registry is an official intermediary for Ontario Province and a registered member of Corporations Canada.
- Our online form offers the option to select, customize, and build your bundle according to your preferences. Simply complete the straightforward form on our website, and we’ll handle the rest when register a corporation in Ontario.
- With a wealth of experience in business incorporation, we pride ourselves on guiding entrepreneurs through the process of Ontario incorporation with expertise and precision.
- Our team of specialists ensures swift processing, with files prepared within 2 hours of order placement. You can expect to receive your fully incorporated company documents in as little as 2 hours.
