Ontario Company Incorporation
From $99.99 plus fees
- Filing
Articles of Incorporation in Ontario -
Ontario
incorporation is quick and cost effective at Ontario Business Central
by selecting one of our custom packages. The information below should
answer any questions you may have about the benefits
of incorporating a business in Ontario.
Incorporating a Business
in Ontario
Many
people prefer to register their business as a corporation. Advantages
of incorporating are as follows:
- Incorporating
a company has several advantages, the first being that the corporation
has it's own identity separate from the people who are involved in
the business. Because of this the corporation may be able to obtain
its own investments or credit.
- Since
the Corporation has its own identity it is not affected if shareholders
of the corporation change or remove themselves as long as one director
remains. That is also beneficial for estate planning as the corporation
continues to exist after the shareholders die
- The
shareholders of the corporation are not liable for default, obligation
or liability that the corporation has incurred unless the shareholders
give personal guarantees.
- There
may be tax advantages to incorporation. A corporation in most cases
has lower tax levels than any individual tax bracket.
- The
name that you choose for your corporation becomes protected upon completion
of the Articles of Incorporation. If someone after you've incorporated
decides to use the same name the name will be refused.
- Now with an Ontario Incorporation only 25% of the directors are required to be Canadian Citizens.
Disadvantages
to company incorporation are as follows:
- Since
a corporation has its own identity, it also has to file its own tax
returns. The individual shareholder must file their personal tax return
along with a secondary tax return for the corporation.
- Having
a corporation means more paperwork in most cases. Not only are you
required to maintain personal records for yourself as a shareholder,
but also maintain the records for the corporation.
- The
initial costs for a corporation is higher than other options available
for businesses which is approximately $600.00.
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