Entrepreneurship & Small Business

Only $200 to Incorporate! Did I miss anything?

  • Last Updated:
  • Jun 18th, 2018 2:23 pm
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[OP]
Member
Feb 23, 2015
347 posts
13 upvotes
Mississauga, ON

Only $200 to Incorporate! Did I miss anything?

Trying to incorporate (as a numbered company) I found the information confusing so I did it the cheapest way ($200) to see how it will turn out.

It costs $360+private fee to incorporate provincially (Ontario) as a numbered company, a bit more if you want a name instead since you have to make sure the name is not already taken. Though I don't know if the name search (NUANS I think it is called) is mandatory, anyone know?

However for only $200 you can incorporate federally, no extra fees as it can be done from the federal government website.
So I did that and got a name like 10816*** CANADA INC.
only the last 3 digits I hid

Then I got an email from the provincial gov't saying
This is your Ontario Corporation Number (OCN)
003180***

I guess the feds notify prov. gov't , which is ok with me but anyone know what this number is used for?
I doubt I can operate as 003180*** Ontario Inc, or can I?

So why the difference in fees? Are there hidden costs I will have to bear for going the cheaper way?
I will only be running the business in Ontario.
3 replies
Sr. Member
Nov 12, 2014
579 posts
355 upvotes
Kingston, ON
There are legal differences -get legal advice (and not from an internet forum).
Deal Addict
User avatar
Aug 15, 2015
1328 posts
169 upvotes
Markham, ON
What is the problem? that there is no problem and you don't understand the documents you received? make sure you have all your number. Everytime you register something, you get a number.
Deal Addict
Mar 16, 2015
1461 posts
224 upvotes
BizDeveloper wrote:
Jun 15th, 2018 4:14 am
Trying to incorporate (as a numbered company) I found the information confusing so I did it the cheapest way ($200) to see how it will turn out.

It costs $360+private fee to incorporate provincially (Ontario) as a numbered company, a bit more if you want a name instead since you have to make sure the name is not already taken. Though I don't know if the name search (NUANS I think it is called) is mandatory, anyone know?

However for only $200 you can incorporate federally, no extra fees as it can be done from the federal government website.
So I did that and got a name like 10816*** CANADA INC.
only the last 3 digits I hid

Then I got an email from the provincial gov't saying
This is your Ontario Corporation Number (OCN)
003180***

I guess the feds notify prov. gov't , which is ok with me but anyone know what this number is used for?
I doubt I can operate as 003180*** Ontario Inc, or can I?

So why the difference in fees? Are there hidden costs I will have to bear for going the cheaper way?
I will only be running the business in Ontario.
Hey you got an OCN also that is good.
There is another thread going on about registering the fenderal incorporation with the provinces ( Ontario in this case)
Normally this is an automated process ( if done correctly just as in your case) that while you fo the federal incorporation and chose to register your corporation in Ontario , it is done in the same process.
So you got your XXX Canada INC. That is your corporate name.
The OCN is given by Govt of Ontario. What this simply means that your non provincial corporation is now registered with them as well. Other than that there is no need to do anything elase. Ontario is good in a way that it even do not ask the federal corporations to file an annual return ( Manitoba for example asks)
Its just that if there is a change in your corporation. Like you stop doing business in Ontario or registered office change etc you can notify them using the OCN.

So good that your OCN is done. In my case , the damn thing was never sent from Fed to the govt and now I wil lhave to do it in backdated...

I will let you do your research about differenc ein fee etc.
Just dont forget that for your federal corporation , along with doing the CRA T2 return etc, you need to do a corporations Canada annual return ( for 20$ or so ) . Its very simple and its more of an information return not a complex one like T2.

Hope it helps...

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