Step 1: Choose Your Business Name
It is possible that you have already dreamt about your business name. Perhaps, you are seeking one to distinguish yourself from your competitors and similar businesses. It is vital to do a name search as fast as possible to see if your name has already been taken.
If you haven’t got a business yet, be careful in choosing your business name. Put thought into all aspects, as this will hopefully be your name for years to come. We provide a one-stop service to help you with the naming process and deliver an unbiased opinion of potential positive and negative impacts that may be associated with that name.
Step 2: Get a Business Number (BN)
Applying for your BN or business number is important. This nine-digit account number is your company’s identity to provincial and federal governments. You might already have a BN for your sole-proprietor business. If not, no problem. We provide a simple incorporation service that enables you to register your business correctly.
Step 3: Decide if you will incorporate provincially or federally
Each Canadian business has the choice to incorporate provincially or federally. The Federal incorporation option allows you to conduct business under the same name throughout the territories and provinces. It is less expensive than the provincial incorporation option; however, it takes slightly more time to maintain and set up.
The majority of offline or online businesses operating in Canada can choose to be either Federally or Provincially incorporated.
Step 4: Register for GST/HST
You will have to register for a GST/HST account if your company earns $30,000 or more in annual total revenue.
We recommend seeking legal advice prior to choosing to incorporate to avoid expensive mistakes. Our team of dedicated professionals will help you every step of the way when you decide to incorporate.
Once you have decided to incorporate your business, you have additional business structuring options to consider. Our incorporating experts can discuss these options in detail with you.