Entrepreneurship & Small Business

DIY Provincial (ON) or Federal Business Incorporation 1-2-3 & Save your money

  • Last Updated:
  • Mar 13th, 2017 3:11 pm
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Sr. Member
Mar 16, 2015
975 posts
104 upvotes
Toronto, ON
Hi , this DIY incorporation method mentioned in OP seems good. My question is , in how many days the Article or certificate of incorporation will be with me if I follow it? Sorry new to the incorporation. I got a contract work and agency is asking to provide the article of incorporation.
what about GST/HST Number? How to get that? agency is asking for that too.
Deal Addict
User avatar
Nov 10, 2003
1949 posts
5 upvotes
dte227 wrote:
Mar 16th, 2016 10:44 am
Quick question, can I register a corporation, lets say a random number they provide. 9123123. Then I want to register, dte227eShop and perhaps dte227catering, do I just register those as a trade name operated under my corporation (instead of separate corps)?

Thank you in advance
Yes. That's what trade names are for.
They allow you to "Do Business As" the registered trade name. The registration for a trade name in ontario is $60, and the trade name has to be renewed every 5 years (so $60 every 5 years).
Deal Addict
Jan 7, 2014
1787 posts
265 upvotes
eonibm wrote:
Jul 10th, 2015 10:02 pm

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.

Hi , I have a question on this.... So at the time of doing the incorporation you do not need to mentioned who has how many shares?
Can I just specify the classes of shares like the following. I found it on
http://sbinfocanada.about.com/od/incorp ... ration.htm

"The corporation is authorized to issue an unlimited number of Class A and Class B shares. The Class A shareholders shall be entitled to vote at all shareholder meetings, except meetings at which only holders of a specified class of share entitle their holders to vote and to receive such dividend as the board of directors in their discretion shall declare. Subject to the provisions of the Canada Business Corporations Act, the Class B shares shall be non-voting. Upon liquidation or dissolution, the holders of Class A and Class B shares shall share equally the remaining property of the corporation."



But then who is having how many shares of which class . Where do I need to record that and do I need to enter that into the articles later on? Basically where do I store the information that who got how many shares. Will I need a lawyer for that?

Any advise is helpful.

thx
[OP]
Penalty Box
Aug 2, 2010
10797 posts
2078 upvotes
Asker123 wrote:
Jul 13th, 2016 6:58 am
Hi , I have a question on this.... So at the time of doing the incorporation you do not need to mentioned who has how many shares?
Can I just specify the classes of shares like the following. I found it on
http://sbinfocanada.about.com/od/incorp ... ration.htm

"The corporation is authorized to issue an unlimited number of Class A and Class B shares. The Class A shareholders shall be entitled to vote at all shareholder meetings, except meetings at which only holders of a specified class of share entitle their holders to vote and to receive such dividend as the board of directors in their discretion shall declare. Subject to the provisions of the Canada Business Corporations Act, the Class B shares shall be non-voting. Upon liquidation or dissolution, the holders of Class A and Class B shares shall share equally the remaining property of the corporation."



But then who is having how many shares of which class . Where do I need to record that and do I need to enter that into the articles later on? Basically where do I store the information that who got how many shares. Will I need a lawyer for that?

Any advise is helpful.

thx
You should have the shareholder sign a subscription agreement for the shares, how many, type (make sure corp is authorized to issue them, price per share paid and total, have the shareholder pay the money to the corp and the corp record the payment on its books, have a directors resolution accepting the subscription agreement by signing it on behalf of the company, actually issue the shares (you can get pre-printed share certificates at Staples or forgo them I guess, but do give the shareholder some proof they own the shares), then have the directors pass a directors resolution specifying the issue price of the shares, shareholder name, # and type of shares issued. After all that you record it on the share register of the company, which can be a formal pre-printed share register form in the minute book of the company or something your prepare yourself on a piece of paper listing shares issued in chronological order.

You can likely find precedents for all of these documents on the net. A lawyer can help if you don't want to make sure you do it right but they aren't absolutely necessary unless you do it wrong, lol.
Deal Addict
Jan 7, 2014
1787 posts
265 upvotes
It will be a good idea to add in the OP that once this process is done , what is expected time to receive the Articles of incorporation and certificate?
Lets say in Federal incorporation , as everything seems online, do you get those documents instantly in the email?

Edit - Got it myself... For Federal incorporation , they normally respond within 24 hours and if everything is ok you get the Articles of incorporation and certificate . BTW these 2 are same document. I thought these are 2 separate documents but I saw that they are included in a single PDF.

Question - Is there any document other than Articles of incorporation and certificate that is sent when you do the incorporation. I did it through my accountant and he gave me just these? Once you get these documents is the process of incorporation over?

thx
Deal Addict
Dec 21, 2012
1929 posts
287 upvotes
Outsider wrote:
Jul 11th, 2016 10:01 am
dte227 wrote:
Mar 16th, 2016 10:44 am
Quick question, can I register a corporation, lets say a random number they provide. 9123123. Then I want to register, dte227eShop and perhaps dte227catering, do I just register those as a trade name operated under my corporation (instead of separate corps)?

Thank you in advance
Yes. That's what trade names are for.
They allow you to "Do Business As" the registered trade name. The registration for a trade name in ontario is $60, and the trade name has to be renewed every 5 years (so $60 every 5 years).
If you register a trade name under corporation x but now want to take that trade name and make it its own corporation, is the trade name transferable? I'd like to use ABC123 instead of ABC123 Inc.
[OP]
Penalty Box
Aug 2, 2010
10797 posts
2078 upvotes
Asker123 wrote:
Jul 14th, 2016 2:03 pm
It will be a good idea to add in the OP that once this process is done , what is expected time to receive the Articles of incorporation and certificate?
Lets say in Federal incorporation , as everything seems online, do you get those documents instantly in the email?

Edit - Got it myself... For Federal incorporation , they normally respond within 24 hours and if everything is ok you get the Articles of incorporation and certificate . BTW these 2 are same document. I thought these are 2 separate documents but I saw that they are included in a single PDF.

Question - Is there any document other than Articles of incorporation and certificate that is sent when you do the incorporation. I did it through my accountant and he gave me just these? Once you get these documents is the process of incorporation over?

thx
Yes.
Newbie
Aug 25, 2007
44 posts
7 upvotes
Thanks for the info.

Any downsides in doing this online with one of the official providers (see link).

Hard to find pricing and to navigate their sites but for an Ontario Corp. it appears OnCorp is $60+HST + $300 (which is ~$8 more) and ESC is $50+HST +$300 (which is slightly *less*).
Also saves the trouble and time of going in person.

Anyone have any experience with these providers and recommend which one to go with?

Thanks,
Pierre.
Newbie
Mar 19, 2013
1 posts
I am also looking into using one of these online services. OnCorp and ESC seems pretty straight forward. Pierret777 have you tried any of these services yet?
Newbie
Aug 25, 2007
44 posts
7 upvotes
prostardealer wrote:
Mar 10th, 2017 12:22 pm
I am also looking into using one of these online services. OnCorp and ESC seems pretty straight forward. Pierret777 have you tried any of these services yet?
Not yet. I'm planning on going with the link in the OP for the NUANS and then filing online with ESC.
Will be sometime next week so I'll keep you posted.
Deal Fanatic
Dec 27, 2013
5370 posts
1396 upvotes
Toronto
can an Ontario corporation, or FEderal corporation, Open up a holding corp in either jurisdiction?
Newbie
Aug 25, 2007
44 posts
7 upvotes
I just finished the ON incorporation with ESC.
The cost was $56.50 ($50 + HST) + $300 = $356.50.

Total time from start to finish was about 30 minutes.
The UI is not very intuitive but I expected that after reviewing all 3 providers and all of their sites designs are bad.
In the end, it worked okay as I had to fill in a few forms and then the approval was immediate.

You can actually create an ESC account and try it out for yourself (the payment step is at the end, during the submit), so you can see how comfortable you are with it.

Total time including the NUANS search (from corporationcentre.ca) was about 45 minutes. (15 minutes for the NUANS, 30 for ON articles).

Let me know if you need more information.
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