Standard: Used where one person is the only and entire shareholder. This structure does not allow giving shares without admin rights to friends or family members now or in future.
Advanced: Used commonly. It allows the owner(s) to own two types of shares: voting and non-voting. This share structure also allows friends or family members to own non-voting shares now or in future.
Custom: Used to personalize share structure based on preferences. This share structure allows to categorize shares into many types such as common, preferred, voting, non-voting etc. This also allows to put a custom clause in the articles of incorporation.
A Federal Numbered Corporation can be ready in 1 hour.
Corporation's Name Rules in Canadian All Provinces except Quebec:
Generally, a name should have two elements: 𝐃𝐢𝐬𝐭𝐢𝐧𝐜𝐭𝐢𝐯𝐞 and 𝐃𝐞𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐯𝐞.
The 𝐃𝐢𝐬𝐭𝐢𝐧𝐜𝐭𝐢𝐯𝐞 element can't be a common English word, it has to be unique or made-up
words. For example, " Joseph Restaurant Inc". In this name 'Joseph '
is the 𝐝𝐢𝐬𝐭𝐢𝐧𝐜𝐭𝐢𝐯𝐞/𝐮𝐧𝐢𝐪𝐮𝐞𝐞𝐥𝐞𝐦𝐞𝐧𝐭.
While the 𝐃𝐞𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐯𝐞𝐞𝐥𝐞𝐦𝐞𝐧𝐭 can be common English words. An example is "Joseph Restaurant ".
'Restaurant' is the 𝐃𝐞𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐯𝐞𝐞𝐥𝐞𝐦𝐞𝐧𝐭.
A Canadian physical address is required to Register Corporation in Canada,
where the government will send documents. If you do not have a physical address
in Canada, you can use our Registered Address Service that includes mail
receiving and forwarding.
Note: Our website allows only 5 directors, if you want
to add more than 5 directors, you may call or email us to place a customized
order. But for now, you can place an order with these five directors.
An incorporator is the responsible person for organizing and incorporating
a corporate entity. It is typically the head of the organization. An
incorporator may be a director or not. Once the filing is complete the
incorporator's function is usually finished. After that the management of the
corporation is performed by the directors.
If you are doing corporation on behalf of a client, you may mention here
their the name. This is for government's records. We only contact the billing
person that mention in our website form. We don't contact your clients. You can
write your details in the billing.
Minute book is detail records & documents of an
incorporated company’s structure and activities. According to corporation act
Minute book is MANDATORY. It must be updated every year as part of the
incorporation’s Annual Return to maintain its legal structure and include
By-laws, Articles of Incorporation Any amendment, Resolutions and minutes,
Shareholder and share transfer registers, Directors & Officers Registers,
Notices that have been filed. If a business does not have them or keep them up
to date, fined by the CRA as part of an audit. Banks might decline to give
loans and any potential future sale of their business or assets could be in
jeopardy or face extensive and costly legitimate deferrals. This Minute book
prepared by our legal and accounting team
If you skipped these
sections, you cannot add Corporation's officers, their designations (CEO,
President, etc.), share classes, share prices, shareholders' names, percentage
of ownership, and by-laws are part of the Minute book.
If you want to proceed,
click Next or Previous to add Minute Book.
A business email address and domain help you create a professional image
and gives your business instant credibility. We are an agent of domain
registration we can instantly reserve a domain for your company (example: www.companyname.ca or www.companyname.com. If you do not reserve your domain today might be
your competitors will reserve, it and kick away you from competitions.
Share certificateis written document signed on behalf of a corporation that serves as
the legal and official proof of ownership of corporation. It's a highly
recommended items if you have more than one shareholder. You can customize your
share certificate in our website as per your need basis. Which could be used in
future in case you add any other person (such as spouse, child, friend) as
shareholder. Some time share certificate is required show many purposes such as
bank, contract and agreement and so on.
What is Sharecertificatefolder and why you need?
When you
issue share certificates they need to be protected and secured. A Share
certificate has great history behind it.
Don’t lose your that history just by storing your certificates in a box
or in sleeves with plasticizers that will damage your old share certificate.
Sometimes,
replacing a share certificate is a complex process in some cases, the company
issuing shares may require a resolution confirming the replacement of the
certificate from the board of directors. Our Share Certificate Folder will safe
your share certificates storage and display.
What is Synthetic paper?
Synthetic paper isbecomingpopular because of its great
durability, strength, and functionality. Moisturehasalwaysbeenaproblemwhenworkingwithtraditionalpaper. Eventhebest-laminatedmaterialscangetdamagedbywater, but Synthetic paper gets wet you can easily wipe the moisture off the surface. You
can even dip the paper in water without worrying about your print being damaged
in any way.
What is Wafer sticker:
Wafer seals stickers are self-adhesive that is used to emboss for seal on
Share certificate or other corporation important documents securely without
glue.
Note:If you want to add more than 5 shareholders, you may need to place a customized order. For now, you can place an order with these five shareholders, and afterward, give us a call to convert it into a customized order.
Every
Federal corporation MUST do have at least one provincial registration of its
head office/Register office. This is REQUIRED by law to start & operate
business. You can't open bank account without provincial registration.
If you
want to register it later separately that will need a manual process and will
cost more money & time. Example:
Doing Ontario provincial registration together with federal costs only $120
while doing it latter costs $599
What is the Individuals with Significant Control (ISC) Register?
The ISC register is a document that contains information about each ISC, such as name, date of birth, address or address for service, date of becoming an ISC, description, etc. Starting May 4, 2023, Canadian corporations created since June 2019 under the Canada Business Corporations Act must keep a register of individuals with significant control (ISC), in compliance with the regulations of Bill C-86 for increased transparency.
Who can be an ISC, and What needs to do?
Individuals who own their own businesses are typically the only ISC because they own 100% of the business' shares. An ISC is an individual who possesses ownership or control over a corporation. This could include owning, directing, or controlling 25% or more of the shares individually or jointly with other individuals, having factual control over the corporation without holding any shares, or meeting a combination of these criteria. If the corporation has multiple shareholders and business owners, in which case, the corporation would need to contact anyone who owns shares or has a major influence on the business.
Who can access an ISC register?
Your corporation is not required to disclose its ISC register to the public. Your corporation must disclose the register to:
Bank: To open a bank account, you have to show who controls your corporation. ISC register is as proof of who owns and controls your business.
Federal Corporation in Canada refers to a type of business entity that is incorporated under the federal laws of Canada, specifically the Canada Business Corporations Act (CBCA). It is a legal structure that allows businesses to operate and conduct business activities across multiple provinces and territories in Canada.
Here are key features and characteristics of a Federal corporation in Canada:
Federal Jurisdiction: Unlike provincial corporations, which are incorporated under specific provincial laws, all federal businesses are incorporated under the CBCA, which falls under the jurisdiction of the Government of Canada.
Cross-Provincial Operations: A federal corporation can conduct business activities and operate across Canada. It is not restricted to operating within a single province or territory.
Name and Registration: Similar to provincial corporations, federal corporations must have a unique name that complies with the regulations set by the Corporations Canada.
Legal Obligations: Federal corporations are subject to various legal and regulatory obligations outlined in the CBCA. This includes filing annual returns, maintaining proper corporate records, holding annual general meetings, and complying with federal tax laws and regulations.
Credibility and Recognition: Federal corporations often carry a certain level of credibility and recognition due to their federal status. This can be advantageous when dealing with customers, suppliers, financial institutions, and government entities.
Extra Provincial: When a federal corporation wants to operate in a specific province or territory, it must comply with the laws and regulations of that jurisdiction by registering as an extra-provincial corporation. This registration allows the corporation to establish a legal presence and conduct business activities in the additional province or territory.
How to Register a Corporation Federally:
So you’ve decided to take the leap and register your business federally with Business Ontario! Here are the key steps you need to follow to get there.
Federal Corporation name:
First things first, you need to choose a unique name for your federal corporation that follows the naming rules laid out by the Canadian government. Once you have a name picked out, you need to select a legal structure that works for you and your business. This will affect your tax obligations and liability as a director, so choose wisely.
Articles of Incorporation:
Next up, you need to complete and file your Articles of Incorporation to register your federal corporation. This is a formal document that outlines the purpose and structure of your corporation. Don’t worry if this sounds overwhelming; our team can help you with this!
Minute Book:
Once you have your federal corporation’s documents filed, it’s time to prepare your corporate bylaws. This is a set of rules that govern the internal workings of your corporation—things like how you’ll hold meetings and elect directors.
Federal Business Number:
After that, you’ll need to obtain a Federal Business Number (BN) which acts as your corporation’s unique identifier.
CRA Accounts Set Up:
After getting Business number, that will be used to register for HST and payroll, which you’ll need to do next.
Don’t forget to get any necessary business licenses and permits for your specific industry or location.
Corporate Record:
Finally, set up your corporate records book so you have a central location for important documents and information.
It may seem like a lot of steps, but Business Ontario is here to help you every step of the way. Let’s get started!
