Incorporation is a form of business ownership that creates a distinct legal entity separate from its owners (the shareholders), unlike legal business structures such as sole proprietorships and partnerships.
Within Canada, businesses can incorporate at the federal or provincial level, and each has benefits and disadvantages.
When a corporation is created, each owner is issued shares in proportion to their percentage of ownership. A corporation can be private or public. Public corporations, such as IBM, and General Electric, trade shares on stock exchanges such as the Toronto Stock Exchange (TSE) or the New York Stock Exchange (NYSE).
When it comes to incorporating your business, we can help you choose your jurisdiction and also created your articles of incorporation, in addition to creating a minute book to help you further organize your business.
We can help ensure that your corporation is properly structured so that you can focus on growing your business.
1. Should I incorporate federally or provincially?
This is an important consideration and requires a deeper understanding of your business and the type of industry your corporation will operate in. Since each jurisdiction has its own benefits and disadvantages, you will want to seek legal advice before choosing the jurisdiction of your corporation. Let us help you.