Ontario Company Incorporation
- Filing Articles of Incorporation in Ontario -

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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 its 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.

Let Ontario Business Central help you with incorporating in Ontario. Our Ontario company registry will ensure that your Ontario Incorporation gets processed quickly and you get the service you deserve.

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