DIY Provincial (ON) or Federal Business Incorporation 1-2-3 & Save your money
Provincial Incorporation - Ontario:
1. Ordered an Ontario Nuans name search report at http://www.corporationcentre.ca/docen/pns/home.asp for $25+HST. Was delivered to my email within 1/2 hr. Printed 2 copies. Note that if you just want a numbered company you do not need this report and you will just be assigned the next number they are handing out. Many use this (as I have) for holding companies that just hold investment assets rather than are active companies operating businesses doing trade.
2. Printed and filled out 2 copies of the Ontario Incorporation Form 1 from http://www.forms.ssb.gov.on.ca/mbs/ssb/ ... 07116E.pdf. Entered myself as sole director & incorporator, 'no restrictions' on share xfer, 'unlimited common shares' and 'none' for all the other questions.
3. Cycled down to the 375 University Ave. 2nd Floor and submitted my duplicate forms & NUANS and $360 by credit card. They hand you one stamped copy back along with an 'Initial Return by an Ontario Corporation, Form 1' which is a simple form that you need to fill out with basically the same info you just submitted and mail or drop off within 60 days to 393 (not 375!) University Ave, Suite 200. I'll cycle down to drop it off and save the stamp in true RFD spirit and get some exercise while I'm at it.
Total Cost = $360 (Gov't filing fee) + $28.25 (NUANS name search) + $1.13 (binder) = $389.38 and transportation was free. No Annual reporting requirement fee.
If you want to get fancy (but you don't need to) on the share structure, restrictions on xfer, etc then just google or change it later by resolution.
Seals are no longer legally required so I don't order them, nor is an 'official' fancy looking minute book. I just use a $1 dollar store binder and ordinary paper. Nor do you need a lawyer or paralegal to do the minute book. Samples of minutes can be found online which you can modify to suit your company. Next you just issue the shares to whomever and fund the company either via loan or share purchase or just use your own money or credit card and get reimbursed via petty cash report to the company. Then go open a business bank account and google to see who's the cheapest and meets your needs. Save money and don't get a company credit card but just use your personal one and let the company reimburse you (too much business use might result in the CC company requiring you to use a business CC, but unless you are buying huge amounts of inventory on it or other huge obviously business related charges you will have no problem).
The whole process took 90 minutes (including going to Dollarama!).
Federal Incorporation - Canada:
Many aspects are similar to Ontario incorporation. However, this can all be done online.
1. Go to https://www.ic.gc.ca/app/scr/cc/Corpora ... rp-wz.html and just answer the questions.
2. Note that you only need a NUANS report if you want a named company instead of a numbered company. If you just want a numbered company you do not need this report and you will just be assigned the next number they are handing out. Many use this (as I have) for holding companies that just hold investment assets rather than are active companies operating businesses doing trade. Note that if you order a NUANS report for Ontario or Federal they must be used for that incorporation. You cannot use an Ontario NUANS report for Federal incorporation and vice-versa.
3. Enter your payment method and then wait for your incorporation documents to arrive via email.
Total Cost = $200 (Gov't filing fee) + $28.25 (NUANS name search) + $1.13 (binder) = $228.38 $20 Annual fee for Annual reporting requirement if done online.
Note: There is no requirement to report shares issued/transferred/bought/sold or shareholder information to either authority as erronously reported around the InterWebs. In fact there is no requirement even to decide any of that at the time of incorporation but you better do it shortly after incorporation if you have multiple shareholders as everyone wants to know what they are getting. If it's just you there is no rush but you have to have it done by the time you prepare your first financial statement and certainly before you file your first corporation tax return. You need not contribute anything to the company and the share can just have a nominal value of $0.01. Personally I just loan $ to my co and have it paid back. You can do that with multiple shareholders too.