1 / 10

Incorporating A Business In Ontario

Incorporating a business online in Ontario is simple and can provide you with name protection, limited liability and tax advantages. You have two choices to incorporate in Canada, provincial and federal incorporation. Before choosing, check out the similarities and differences of both incorporation.

Yeationat123
Download Presentation

Incorporating A Business In Ontario

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. An Introduction To Federal & Ontario Incorporation

  2. There are two options to incorporate your business in Canada; you can incorporate either federally or provincially. Federal and Ontario provincial corporation has both similarities and differences. Incorporating provides many benefits and allows the owner to keep the personal wealth as much removed from the business.

  3. Differences between Federal and Ontario corporations

  4. GOVERNMENT FEE PROVINCIAL/ ONTARIO FEDERAL/CANADA Thegovernmentfeeis $360.00 Thegovernmentfeeis $200.00

  5. NAME PROTECTION ONTARIO Providesnameprotectionwithintheprovinceonly FEDERAL Providesnameprotectionwithinthecountry

  6. PROCESSING TIME FEDERAL Theprocessingtimeforafederal corporationis1-2businessdays,as thenameapprovalprocessismore rigorous. ONTARIO AnOntarioincorporationprocesscan becompletedwithinthesamedayas itissubmittedelectronically.

  7. EXTRA-PROVINCIAL REGISTRATION ONTARIO ThereisnoneedforanOntario corporationtoregisterExtra-Provinciallyif thebusinessoperatesinasingleprovince. FEDERAL AFederalcorporationmustalsoregisterinthe ProvinceorTerritory,wherethecorporation headofficeislocatedandcanoperateinmore thanoneProvinceorTerritory.

  8. Similarities between Federal and Ontario corporations

  9. Limited Personal Liability Bothincorporationsarebeneficialtothebusinessownersasitkeepsthem awayfromthehigherriskofpersonalinjury,propertydamage,oranyother typeofliability. Tax advantages Anincorporatedbusinessbenefitfromalowercorporatetaxrateandother possibletaxadvantages. Citizenship Requirement Bothincorporationsrequireaminimumof25% ofthelisteddirectorstobe CanadianCitizensorPermanentResidents.

  10. To Learn More: https://www.ontariobusinesscentral.ca/inc orporation-online.php

More Related