Company Registration and Business Registration in Canada
Canada is the country of opportunity which led the people to established and do trade of any aspect of economy from all over world. Any person across the global can have access to incorporate and start business in Canada with hassle free compliance and regulatory framework in country.
Advantages of Incorporating a company in Canada are as follows:
In Canada the business entity can be registered in any of the following forms:
Procedure for Company Formation in Canada
Here the procedure for Company Formation in Canada
Step-1:
Naming of business: Name should be simple, unique and easy to remember. Moreover, it must specify the product and services which business will provide.
Step-2:
Business Number: Applicant has to obtain Business Number, as it is a mandatory
requirement. It helps federal, provincial and municipal governments in identifying your business.
Step-3:
Incorporation: Incorporation can be done either federally or provincially in both ways either electronically or paper mode.
Name Search: After the approval of name, it gets reserved for maximum 90 days. The incorporation has an obligation, to full fill other credentials within this prescribed time period.
Article of Incorporation: It must be signed by the incorporation(s) whereas, in case If incorporation is a company then, must be signed by an authorized representative. Article of Incorporation can be filed through Online Filing Center or Complete Form 1 along with the prescribed fees.
Processing of Application: After the submission of application, Corporations Canada will analyses and make sure that application is complete in all respect.
Step 4:
Provincial and territorial registration: It means if the applicant is running their business, having an address or offer product or services other than incorporated address, required to take registration within a week after incorporation in each province to have permission of doing business/trade.
Step 5:
Obtain Business Number or permits and other requirements: As per the Canada Revenue Agency (CRA), any person doing or running business either in province or federal required Business Number for GST/Harmonized Sales Tax (HST), Payroll deductions, corporate income tax, import and export duties and taxes. Some of Municipality also required permits to operate business on that locality like license of alcohol for restaurant services etc.
Note: Company Registration in India is the enrollment procedure in which all the sectors of business, firm, startup all are registered according to facts of Govt. Law while these all services are provided by Enterslice
Detail information is provided on our website www.enterslice.com
Advantages of Incorporating a company in Canada are as follows:
- Tax Advantages
- Continuous existence
- Raising money can be easier
- Sole Proprietorship: In this form of entity the applicant itself has direct control and decision making. The obligations to comply with regulatory norms is not stringent.
- Partnership: It is a kind of non-incorporated business. It is basically, created between two or more people. In terms of general partnership each partner is jointly liable for the debts of the partnership but in case of a limited partnership, a person can contribute to the business without being involved in its operations.
- Corporation: It is a kind of entity whose incorporation can be done at federal or provincial/territorial level. It is considered to be a legal entity distinct from its shareholders.
- Cooperative: It is a kind of entity which is owned and controlled by an association of members. It can be set up as a profit or as a not for profit organization.
 |
| Company Registration in Canada |
Here the procedure for Company Formation in Canada
Step-1:
Naming of business: Name should be simple, unique and easy to remember. Moreover, it must specify the product and services which business will provide.
Step-2:
Business Number: Applicant has to obtain Business Number, as it is a mandatory
requirement. It helps federal, provincial and municipal governments in identifying your business.
Step-3:
Incorporation: Incorporation can be done either federally or provincially in both ways either electronically or paper mode.
Name Search: After the approval of name, it gets reserved for maximum 90 days. The incorporation has an obligation, to full fill other credentials within this prescribed time period.
Article of Incorporation: It must be signed by the incorporation(s) whereas, in case If incorporation is a company then, must be signed by an authorized representative. Article of Incorporation can be filed through Online Filing Center or Complete Form 1 along with the prescribed fees.
Processing of Application: After the submission of application, Corporations Canada will analyses and make sure that application is complete in all respect.
Step 4:
Provincial and territorial registration: It means if the applicant is running their business, having an address or offer product or services other than incorporated address, required to take registration within a week after incorporation in each province to have permission of doing business/trade.
Step 5:
Obtain Business Number or permits and other requirements: As per the Canada Revenue Agency (CRA), any person doing or running business either in province or federal required Business Number for GST/Harmonized Sales Tax (HST), Payroll deductions, corporate income tax, import and export duties and taxes. Some of Municipality also required permits to operate business on that locality like license of alcohol for restaurant services etc.
Note: Company Registration in India is the enrollment procedure in which all the sectors of business, firm, startup all are registered according to facts of Govt. Law while these all services are provided by Enterslice
Detail information is provided on our website www.enterslice.com
Post a Comment