WHAT IS CORPORATION NAME CHANGE IN ONTARIO?
A corporation name change in Ontario means amending a corporation’s legal name under Ontario Business Corporations Act (OBCA)
BENEFITS OF CORPORATION NAME CHANGE IN ONTARIO
- To better reflect current products, services, or target audience.
- To modernize brand image with a new, fresh name.
- To avoid customer confusion by changing a name that’s like another business.
- A name change can help to overcome previous business challenges or negative perceptions.
- It symbolizes a merger or acquisition with a unified name for the combined entity.
- It refreshes image in a cost-effective way compared to a complete rebrand.
- It helps to avoid legal disputes related to trademark issues
- A unique and distinctive name can help a company stand out from its competitors in a crowded market.
HOW TO CHANGE A CORPORATION NAME?
Changing a corporation name involves several systematic steps. Here they are listed below:
- First of all, “the board of directors” must pass a resolution to approve the corporation’s name change.
- Conduct an Ontario NUANS (Newly Upgraded Automated Name Search) report to ensure that the proposed new name does not conflict with existing registered names.
- File Articles of Amendment. We will guide you to change your corporation name by filing Articles of amendment.
- After filing Articles of amendment for Corporation name change, you will receive a Certificate of Amendment, where you will see new corporate name.
HOW MANY OPTIONS DO YOU HAVE TO CHANGE YOUR CORPORATION’S NAME?
- Named Corporation to Numbered Corporation
- Numbered Corporation to Name Corporation
- Named Corporation to Named Corporation
Why Choose Business Ontario Corporate Services Inc.?
Official Intermediary of Service Ontario: As an official intermediary, we facilitate direct and efficient interactions with government services, streamlining various administrative processes.
Expertise in Local Regulations: Regardless of our intermediary status, we are experienced and specialized in Ontario’s corporate laws, aiding in compliance and legal navigation.
Comprehensive Services: We offer a broad range of services including incorporation, Business Registration, Corporate search, corporate filings, Trademark, copyright, Name reservation, and so on that your business needs.
Convenience: Business Ontario Corporate Services Inc. offers an easy-to-use online filing process to save you time and effort. You just need to fill out our online form and we will do the rest of them.
Competitive Pricing: We are here to assist small businesses and entrepreneurs to launch their businesses smoothly. That’s why our fees are the lowest and most attractive compared to other options.
Aftercare Services: We believe in long-term relationships with our all customers and partners. Our work has not been done after filing or registering an order. We offer ongoing support and updates on legislative changes that could impact your business. We send emails and calls to our existing customer frequently to grow their businesses.
NUANS member: We are a registered member of Corporation Canada’s NUANS department. We manage the NUANS name search report necessary for corporate name changes in-house. That’s why you do not need to go somewhere else for nuans name reservation.
FREQUENTLY ASKED QUESTIONS (FAQS) AND THEIR ANSWERS
What is required to change a corporation’s name in Ontario?
To change a corporation’s name in Ontario, you need board approval, a NUANS name search report to ensure the name is unique and filing Articles of Amendment.
How long does it take to change a corporation’s name in Ontario?
It usually takes from a few days to a few weeks. The actual time will depend on the government’s speed of processing. As an official intermediary of Service Ontario, Business Ontario offers 1-hour rush service timeline to Change a corporation name.
Can any corporation change its name to anything it wants?
No, the chosen name must not be identical or similar to any existing business name or trademark.
Is a shareholder vote necessary for a name change?
This depends on the corporation’s bylaws and the type of corporation. For many corporations, a resolution passed by the board of directors is sufficient, but some might require a shareholder vote, especially if specified in the bylaws.
What happens if a proposed name is already in use?
If the NUANS report indicates that the proposed name is already in use, the corporation will have to choose a different name and submit a new NUANS report.
Are there any restrictions on what a corporation can name itself?
Yes, the name cannot include prohibited terms that could mislead the public. For example, it cannot suggest government affiliation or non-existent corporate structure (e.g., “Royal” ).
Do I need to notify anyone after changing the corporation’s name?
Yes, first of all you need to notify CRA to update your account. You also need to notify all stakeholders including clients, suppliers, banks, and governmental bodies to ensure records are updated and there are no disruptions in operations or legal compliance.
How much does it cost to change my corporation’s name in Ontario?
The filing fee for Articles of Amendment to change your corporation’s name with Business Ontario is the lowest than others. There may be additional costs depending on whether you choose to conduct a NUANS name search beforehand (optional but recommended) and how you choose to file (online or paper).
Do I need a lawyer to change my corporation’s name?
No, you don’t necessarily need a lawyer to change your corporation’s name. However, if the process seems complex or you have specific legal questions about your situation, consulting a lawyer is recommended. We have our Ontario corporate experts and in-house legal counsel to file your Articles of amendment.
What happens after my corporation’s name is changed?
Once your name change is approved, you’ll need to update any business registrations or licenses that use the old name. It’s also advisable to notify stakeholders like customers, partners, and suppliers about the upcoming change.
Can I reserve a new name for my corporation before filing?
No, there’s no formal name reservation process in Ontario. However, conducting a NUANS name search can help confirm if your desired name is available before submitting the Articles of Amendment.