If you are a business owner in Ontario and want to legally change the name of your business, it is a fairly simple process.
Read on and learn about the process.
Reasons to change your business’s name
There are many potential reasons for opting to change the name of a business. Maybe you need to change the minimum or maximum number of directors. Perhaps, the products or services your business provides have changed and you feel you need a new name to reflect that. Or maybe you want to convert your business from a general partnership to an incorporated company (in which case, use the link below).
Whatever the reasons, Articles of Amendment are filed for three reasons in Ontario and they are:
- To change the name of the corporation to a new name or to its original numbered corporation. For Example:
From Smith’s Holdings Inc. to Bobby’s Restaurant Ltd. From Smith’s Holdings Inc. to 1234567 Ontario Inc. From 123456 Canada Ltd. to Bobby’s Restaurant Ltd.
- To change the structure of the corporation. For example:
From 1 Class of Common shares to Classes A, B, and, C Common Shares
- To change the minimum and maximum number of directors. For example:
From Minimum 1, Maximum 1 to Minimum 2, Maximum 2 or to Minimum 1, Maximum 10
The filing procedure
A manual filing of Articles of Amendment are required in Ontario, along with the original signature of the director.
Companies like Ontario Business Central make the procedure very easy. You can use our online ordering process which should take only two to five minutes. All you do is provide the specific details of what you are amending. We prepare the Articles and send them to you for review and acceptance. When you have approved the Articles of Amendment, sign and mail or courier the Articles to us for same day filing.
If you are changing the corporate name, a Nuans report is mandatory and available as an option within your ordering process. After filing the Articles, we scan and email the filed Articles of Amendment and mail or courier the original documents to you.
In order to file, the following information is required:
- The name of your corporation
- Your Corporation Number (if you do not know it, we can look it up)
- The name of a current director authorizing changes to the corporation
- The changes you are looking to make (name, structure, or the minimum or maximum number of directors)
- The address for delivery
When the Articles of Amendment have been completed and you have changed your business’s name, you should notify your bank and Revenue Canada of the change. Additionally, keep in mind the non-legal changes you’ll have to make, like getting new cheques and business cards.