We at S&A Partners can assist you in the process of incorporation. We will guide you through the process and offer various beneficial advice along the way.
Incorporating your business can prove to be very advantageous in terms of reducing taxes, however, the benefits vary depending on every situation and only prove worthwhile once the business is profitable.
There are two levels at which you can incorporate in Canada – federal or provincial. The choice between these two levels depends on whether you wish to operate your business in more than one province in Canada.
When incorporated provincially, you will have to register and complete the necessary documentation before conducting business in another province.
There are only a couple steps for incorporating your business.
You will have to complete an application for the federal or provincial government. This includes submitting a unique name, proposed bylaws, and the names of first directors of the company.
A Quick Money Saving Tip:
If you would like to save some extra money, you could ask the government to assign your company a unique number which creates a numbered corporation!
Next, if everything goes well, the government will issue you a certificate of incorporation.
Congratulations! Now you are the owner of a separate legal enterprise that pays taxes in its own right.