How to Set up a Corporation in Canada

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How to Set up a Corporation in Canada?
https//www.maroofhs.com/business-incorporation-ca
nada/
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Incorporating your business in Canada involves a
couple of steps, and if you're unsure how to go
about it, here are some things you must keep in
mind. The first thing you should do is decide if
you need to incorporate your business or not. Not
all companies need to be incorporated. A self
proprietorship might be right for you if youre
just starting out. The next thing is to decide if
you need to incorporate your business
provincially or federally. Once this is done,
you need to get a name for your corporation. To
ensure other corporations do not take your
business name, you need to research. Search on
Google, social media handles, and domain names to
ensure your business name is unique. You reserve
that name. The next step after getting a name is
to submit the documents of articles of
incorporation and the record of the first board
of directors and registered office address. You
need to consult a lawyer or a chartered
accountant to get this done for you.
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Incorporating provincially is much easier, and
your business name will also be approved quickly.
Suppose you incorporate your business federally
in that case, you'll have the advantage of
running your business in any province or
territory, but you should register in each
province and also pay an extra-provincial
fee. If you plan to expand your business and set
up an office in different provinces, you will
have to register in each province and pay
extra-provincial fees for it. After this, you
will be getting a business number and an income
tax account issued by Canadian Revenue Agency.
Final Thoughts
Now that everything is set for your business, you
shouldn't forget to make corporate minutes. You
can do it on your own, from your accountant or
lawyer. The last thing is to update your
corporation in case of any license requirements
as you move forward with your business.Professiona
l business incorporation service providers can
take care of all the documents required, check
for any permits or licenses requirement, and set
up an income tax account for your business. So,
if you want someone to do the same for your
business, contact us today.
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