Incorporating Federally in Canada. The act of incorporating creates a new legal entity called a corporation, commonly referred to as a “company.” A corporation has the same rights and obligations under Canadian law as a natural person.
Benefits of incorporating a federal corporation in Canada
No matter where you choose to incorporate, incorporation offers many benefits to your business, including:
- creation of a separate legal entity
- limited liability
- lower corporate tax rates
- better access to capital and grants
- continuous existence.
Incorporating your company federally is a five-step process.
Step 1: Deciding how you want to name your corporation
Before you begin the process of incorporation, you need to name your corporation. Every corporation must have a name; this is known as a corporate name. The name must be distinctive and it must not be misleading or likely to be confused with names used by other organizations and businesses. In general, a corporate name is distinctive if it does not make those who encounter it think of another organization or business. Corporations Canada applies very rigorous standards when granting names.
If you want a numbered name (this is still considered a corporate name) for your company, proceed to step 2. The process for obtaining a numbered name for your company is part of the process of completing the articles of incorporation.
If you want to choose a corporate name, you first need to conduct a Nuans name search. Note that a Nuans name search report for the proposed name must not be more than 90 days old.
You can obtain pre-approval of your corporate name before you file your articles of incorporation, or request approval at the time of filing.
Step 2: Completing articles of incorporation
This step establishes the structure of your corporation. However, you can apply to change the structure of your corporation once you are operating.
Your articles of incorporation will need to be signed by the incorporator(s). If an incorporator is a company or other incorporated body, the articles must be signed by an individual authorized by that body.
In your Canada federal articles of incorporation you need to state:
-
- your proposed corporate name (leave a blank space if you want to proceed with a numbered name)
- your corporation’s province or territory in Canada
- your share structure and any restrictions on share transfers
- your corporation’s number of directors
- any restrictions you might want to set for your business or business activities
- any other provisions
Step 3: Establishing the initially registered office address and first board of directors
The registered office address is where you must keep your corporate records and where official documents will be served on the corporation. Choose an address where you will be sure to receive any documents that are sent there since, legally, they will be assumed to have been received by the corporation. Information about the registered office address is corporate information, and as such, is required to be made public.
Step 4: Filing the appropriate forms and paying the fee
Your certificate of incorporation will show the corporate name, the corporation number and the date of incorporation, along with your articles of incorporation. You will also receive a corporation information sheet that includes your corporation key. When used with a corporation number, a corporate name or a business number, a corporation key allows you to carry out certain online transactions.
The date of incorporation is the date on which Corporations Canada receives the articles of incorporation and the fees.
Ecompanies offers fast & easy Canada Federal online incorporation service.
At Ecompanies we help you step-by-step and take care of the entire business registration process from start to finish. Incorporating a new federal corporation in Canada with us is fast, easy and takes just minutes.
Our Canada Federal Incorporation Service Includes:
- Name availability check
We perform a preliminary search to determine if your name choice is available or if it is too similar to one already registered. - Preparation of Articles of Incorporation
Preparation of the initial document that establishes the existence of the corporation. - Preparation of Notice of Directors
Preparation of notice of directors that defines who is in charge of your corporation - Preparation of Notice of Address
Preparation of notice of address that tells the government where your business can be reached - Filing of Incorporation Documents with the Registries Office
Submission of the incorporation documents to the registries office in a timely manner. - Coordinate all Communication with the Registries Office
Ensure there are no issues with the filing and continued assistance until filing is complete. - Personalized Bylaws
We will build a standard set of bylaws that are used by a corporation to detail how it is managed and operated. - Minutes and Resolutions
We will build many of the basic resolutions a corporation uses to demonstrate decisions made or action taken by it. - Satisfaction Guarantee
If you order a service from us and for any reason are not satisfied, simply let us know within 24 hours from the time of your order and receive a full refund of our service fees. - Preparation of BN Application
We will complete the necessary forms required by the CRA to obtain your corporation business number.
No comments yet.