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Ontario Incorporation Package

Ontario Incorporation Package Guide: What Do You Need to Start a Business?

Starting a business in Ontario was one of the best decisions I ever made. When I first started out, I had no idea where to begin. Incorporating my business seemed like a huge mountain to climb, but with a little guidance, I figured it out—and now I’m here to help you do the same. Let’s break it down together so you can focus on building your dream business.

Why I Decided to Incorporate in Ontario

For me, incorporating my business was all about protecting myself and my family. Running a business is risky, and I wanted to make sure my personal assets were safe. Plus, incorporating gave my business more credibility. It showed my clients that I was serious and made things easier when it came to taxes and funding.

What’s included in the Ontario Incorporation Package?

When I first heard about the Ontario incorporation package, I had no clue what it included. Turns out, it’s everything you need to legally set up a corporation. Here’s what you get:

Articles of Incorporation

This is the main document, and trust me, it’s important. The articles of incorporation Ontario basically lay out the details of your business, like its name, purpose, and structure. It’s like your business’s birth certificate.

Certificate of Incorporation

Once everything is approved, you’ll get a certificate of incorporation in Ontario. I still remember holding mine for the first time. It made everything feel official and real.

Name Search and Reservation

You’ll need to make sure your business name isn’t already taken. Doing an Ontario incorporation search is the first step to locking down your unique name. It’s worth taking the time to pick something that stands out.

Other Essentials

  • 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.
  • 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 can 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!

How I Incorporated My Business Step by Step

When I was figuring out how to open incorporation in Ontario, I followed these steps:

1. Picking the Right Name

The first thing I did was check if my business name was available. I used an Ontario incorporation search tool to make sure no one else was using it. Once I found the perfect name, I reserved it.

2. Filing the Articles of Incorporation

Next, I prepared my articles of incorporation Ontario. This part felt a bit intimidating, but there are lots of templates and resources to help. It’s just a matter of filling in the details about your business.

3. Paying the Fees

Let’s talk about money. The Ontario incorporation fees aren’t bad—I paid around $399 online. There are a few extra costs, like the name search fee, but it’s all pretty reasonable.

4. Getting My Certificate

After submitting everything, I waited for my certificate of incorporation in Ontario. It didn’t take long, and once I had it, my business was officially a corporation.

Lessons I Learned Along the Way

Watch Out for Costs

The incorporation fees in Ontario add up if you’re not careful. I made a budget to keep track of everything. You can save a significant amount of funds if you will not hire a lawyer and do all the incorporation yourself. Honestly speaking you don’t really need a lawyer to incorporate your business, just use the business registration platforms like Online Business Registry or Incorp Pro, it’s super simple and fast. If you have some doubts about anything you can always call the customer service and they will explain it to you.

Provincial vs. Federal Incorporation

I chose to incorporate in Ontario because my business is local, but if you’re planning to expand across Canada, look into federal incorporation. It’s something to think about.

Why Incorporation Was the Best Decision for My Business

Looking back, I’m so glad I decided to incorporate. Here’s why it worked for me:

  • Protection: My personal assets are safe if anything goes wrong.
  • Tax Savings: Incorporation gave me some great tax breaks. I could deduct a lot of expenses.
  • Credibility: Being a corporation makes you look professional. It helped me land bigger clients and build trust.

My Simple Checklist for Incorporating in Ontario

If you’re ready to take the leap, here’s a quick checklist to help you:

  1. Do an Ontario incorporation search to check your business name.
  2. Prepare and file your articles of incorporation Ontario.
  3. Pay the Ontario incorporation fees.
  4. Submit your application and wait for your certificate of incorporation Ontario.
  5. Set up corporate by-laws and hold your first shareholder meeting.
  6. Open a business bank account and register for licenses if needed.

FAQs I Wish I Knew About

How much does it cost?

The incorporation cost in Ontario is about $399 if you file online, but don’t forget extras like name search fees, business number, CRA accounts, initial return, etc.

How long does it take?

For me, it took about a few hours. If you’re in a rush, you can pay for a 30 minutes expedited service. If you are doing it through the in person manual registration at Ontario business registry, it might take a few days. My advice: want it faster – do it online!

Can I do it online?

Yes! You can do business incorporation in Ontario completely online. It’s super convenient and fast. Go to the Online Business Registry website, complete the simple registration form, pay the fee and receive the Articles of Incorporation by an email.

How to get a copy of articles of incorporation Ontario?

It is quite easy, just go to the Online Business Registry website and choose the option “Search” in the top menu bar. In the drop-down menu select “Certificate & Article”. You will get a duplicate copy of the corporation Certificate& article within a few business days.

How to change address on articles of incorporation in Ontario?

You can easily do any kind of changes in your corporation. How to do it? Go to Online Business Registry website and select “Change” in the top menu bar. In the drop down menu you can select “Corporate Address Change”. It will take a few business days to change the address.

Final Thoughts

Starting my business and incorporating it in Ontario changed my life. It’s not just about protecting yourself; it’s about setting up your business for success. The Ontario incorporation package has everything you need to get started, and the process is easier than you think.

If I can do it, you can too! Good luck on your journey, and remember—every big dream starts with a single step.

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