Step 2 - Registering Your Business

Corporate Solutions Plus is a government approved agency.  We offer business registration services for business that wish to incorporate a Provincial Corporation in the Province of Ontario, a Canada Federal Corporation or a Simple Business Registration in Ontario. We act on your behalf in filing all necessary documentation to get your new Business started, all that is required from you is to answer a few short questions and your business will be registered or incorporated within a few hours to 2 business days.

Now that you have settled on a Business Name, the next important step is to decide on the legal structure of your new business. 

1

Sole Proprietorship

A Sole Proprietorship is an unincorporated business that is owned by one individual. It is the simplest kind of business structure. You may choose to register a business name or operate under your own name or both.The owner of a sole proprietorship has sole responsibility for making decisions, receives all the profits, claims all losses, and does not have separate legal status from the business. If you are a sole proprietor, you also assume all the risks of the business. The risks extend even to your personal property and assets. If doing business under your own personal name, a business registration is not required.

For new businesses wishing to register as a Sole-Proprietorship or Partnership with the Province of Ontario, registrations can be done directly at the Service Ontario Website.

2

Partnership

A Partnership is an association or relationship between two or more individuals that join together to carry on a trade or business. As with a sole proprietorship, there is no legal structure for a partnership. However, partners usually have some type of contractual agreement that governs, in percentage terms, the sharing of revenues, expenses and tasks.

For new businesses wishing to register as a Sole-Proprietorship or Partnership with the Province of Ontario, registrations can be done directly at the Service Ontario Website.

3

Corporation

A Corporation is a separate legal entity, owned by its shareholders. When incorporating your business, you create formal ownership shares and you and your partners (if you have any) become an actual shareholder of the company, which produces a taxation and legal distance between the shareholders and the company . This in turn has tax advantages for the owners, who are usually paid as employees of the corporation. Incorporation is most often done under a charter in the operator’s home province, but some companies that operate in many provinces or internationally, or that require enhanced credibility, incorporate federally, except for the registration fee, can be more costly and complicated.

Why Incorporate

Businesses incorporate to protect their shareholders. When a corporation is formed, the shareholders no longer become individually accountable for the corporation’s debt and obligations. In other words, creditors cannot seize a shareholder’s property if the corporation goes bankrupt. However, there is one exception. When a business does not have the assets to secure a loan and the shareholders provide a personal guarantee, they can become personally accountable for the corporation’s financial obligations.
The directors can also be liable for the corporation’s debts if they breach a fiduciary duty, such as not paying GST owed.

What We Do:
  • Preparation and filing of Articles of Incorporation
  • Filing Initial Return
  • Filing Annual Reports
  • Filing Notice of Change
  • Registration for Business Number, HST, Payroll, WSIB
  • Corporate Minute Book, Seal and Shares

   Step 3 - Bookkeeping.

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Business Incorporation

We have also teamed up with the largest supplier in Canada allowing us to provide very competitive rates for your corporate package, including:

  • Various styles of Corporate Minute Books
  • Corporate Seals
  • Share Certificates