Incorporation of new company in Canada

I have prepared short checklist to incorporate new Company, or as we call it Corporation in Canada.

1. Select Corporate Jurisdiction: recommended to proceed with Federal
• Where will the corporation carry on business? In one or more provinces, or across Canada?
• Is federal name protection important for the business? Will the corporate name be used in other provinces or territories?
• Is the corporate name unique enough to justify protecting it with federal incorporation?
• Will you decide to incorporate additional companies in the future? If so, it is recommended to incorporate these new companies in the same jurisdiction as the first corporation, so that future corporate changes can be made cheaply and easily.

2. Select Corporate Name: You need first to decide whether you are going with named or number company.
• Named company helps in branding and personalizing and marketing. My recommendation in your case is named company.
• Number company helps, in case you are going bankrupt or you have Mala fide intention. 
• Under the laws of most jurisdictions, the incorporator is responsible for ensuring that the chosen corporate name complies with the applicable law in that jurisdiction.
• Corporate names must not be the same or similar to that of any other existing business name or trademark if the use of the proposed name would be likely to deceive the general public.
• Corporate names can be in either English, French, in both English and French, or in a combined English and French form.
• Corporate names usually consist of a distinctive element and a descriptive element.
• Corporate names must end with a legal element consisting of one of the following:
Limited (Ltd.), Incorporated (Inc.), Corporation (Corp.)

3. Determine Corporate Name Availability: If it is named company, then we
• We will first do name pre-clearance service and then NUANS report…after that we will go with Articles of Association ( I will complete all these)

4. Complete Articles of Incorporation
5. Submit & Register Articles of Incorporation
6. Purchase Corporate Seal & Minute Book (will be taken care of, by me)
7. Complete Corporate By-Laws, Organizational Minutes & Issue Shares (I am Company Secretary (I) too, I will take care of all these requirements)
8. Obtain Other Permits & Licenses (I will take of the entire process)
9. Set Up Bank Account ( If u need, I can help you with this, basically you need to go to bank along with articles of incorporation)
10. Start Your Business (All the best!)

Joginder Gujral,
Director, TOCCAI
FCMA(India), CMA (USA), FCA (India), CPA, CA (Candidate)
Email: jogi.gujral@icmai-canada.org

 

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