Master Business Licence: Register or Renew
Registration (formerly a Master Business Licence) for Sole Proprietorship, Partnership and Trade Name registrations is valid for 5 years in Ontario. We can Register or Renew with us in Urgent speed 2 hours.
The Master Business Licence is business set up for 3 specific business types:
1.Sole Proprietorship (1 person).
2.General Partnership (2 or more individuals or corporations)
3.Trade Name (“doing business as/operating as) name under an existing Corporation)
What does a master business licence provide?
- Registration is valid for a 5 year period
- Gives you the legal right to operate under your business name within Ontario
- To open a Bank account, tax accounts, obtain cheques, business cards
- Advertise and promote the business name
What are some limitations of a master business licence?
- Name protection against other business names in Ontario
- Corporate tax benefits
- Continual registration
- Liability protection for the individual owner
- Flexibility to make changes to the registration