Forming a corporation is an important, and sometimes exhausting task. All too often, after the new entity is established, the owners take a deep breath and get back to doing what they do best—running the day-to-day business operations. This is a big mistake. Failure to deal with the paperwork and legal formalities required to properly […]
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Incorporation of an Ontario Corporation Ontario Articles of Incorporation Director’s consent for Ontario Corporations Certificate of incorporation for Ontario Corporations Assignment of number to Ontario Corporations Name prohibition for Ontario Corporations Restrictions on corporate name for Ontario Corporations Registered office for Ontario Corporations Corporate powers of Ontario Corporation Capacity to act outside Ontario for Ontario […]
Records, duties of Ontario corporations
A corporation shall prepare and maintain, at its registered office or at such other place in Ontario designated by the directors, (a) the articles and the by-laws and all amendments thereto, and a copy of any unanimous shareholder agreement known to the directors; (b) minutes of meetings and resolutions of shareholders; (c) a register of […]
Ontario income tax on individuals and corporations.
In Canada, both the Ontario and federal governments impose an income tax on individuals and corporations. The federal government collects personal income taxes for Ontario. residents of Ontario file one combined federal and Ontario income tax return with the Canada revenue Agency (the “CRA”). As a result of a “harmonization”, effective for tax years beginning […]
Establishing a Branch in Canada
Branch Operations branch operations in Canada are an alternative to incorporation. A non-Canadian corporation may register to carry on business in Canada as a branch in the same manner as a corporation incorporated federally or in another province. Non-Canadian corporations with branch operations must appoint a local agent for the service of court documents. A […]
Restrictions on Ontario business names
When choosing your business name, remember that certain words or expressions cannot be used. Words or expressions, in any language, that are obscene or objectionable in nature. Words that imply the business is a different type of organization. For example, you may not imply that a sole proprietorship is a partnership. You may not use […]
Liability of Business Names in Ontario
The registrant of a business name who has suffered damages because someone else has registered the same name or one that is deceptively similar can take legal action through the courts. The Business Names Act entitles you to recover compensation for damages suffered and provides for a court order cancelling the registration that was the […]
Maintaining Your B.C. Company
The British Columbia Business Corporations Act requires all incorporated companies to file information about the company with the Corporate Registry office. ANNUAL REPORT (FORM 6) A company must file an annual report each year within two months after each anniversary of the date on which the company was recognized. A recognition date is the company’s […]
Incorporating a Limited Company in British Columbia
There are different ways to form a business in B.C., each with its own advantages and disadvantages. Companies can officially incorporate, or they can register as a sole proprietorship or a partnership. The decision to incorporate depends on the specific needs of the persons involved and the goals of the company. British Columbia Incorporation service […]
Capital Structure of Canadian Corporation
Considerable flexibility is permitted in the design of a corporation’s share structure under Canadian federal or provincial corporate statutes. For example, shares can be voting or nonvoting, they can have limited or unlimited participation in equity and they can be redeemable for a fixed price at the option of the corporation or the holder. Shares […]
