If you're a sole proprietor or in a partnership and your business has grown, you may be considering the benefits of incorporating. However, navigating the process of incorporation can be daunting. That's where we come in. We can provide expert guidance and support to help you convert your current business structure to a corporation.
From preparing the necessary documents, facilitating the filing process, and transferring property to your new corporation (s 85 rollover), we can take care of every aspect of your incorporation.
Our goal is to make the process as streamlined and stress-free as possible, so you can focus on running your business. With our help, you can rest assured that your business will be set up for success as an incorporated company. Contact us today to learn more about how we can assist you.
Benefits of incorporating
your business
As your business expands and prospers, the potential risks and liabilities can increase proportionately. Incorporating your business can help mitigate some of these risks, as it allows your company to become a distinct legal entity with the benefit of limited liability.
Incorporating also offers tax advantages that can positively impact your bottom line. By operating through a corporation, you can potentially reduce or defer tax payments, providing you with the opportunity to invest those tax savings back into your business. Additionally, this type of business structure can improve your eligibility for grants and funding. A corporation adds a level of credibility to your business, making it more attractive to investors and enhancing your ability to access specific grants that may only be available to corporations.
Overall, incorporating your business not only minimizes risk and liability, but also provides significant financial and growth benefits. Consider exploring this option to help safeguard and propel your business to greater success.
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What is a corporation?A corporation is a legal entity that can enter into contracts, incur debt, and even own property. Every corporation is comprised of shareholders, directors and officers. When forming a corporation, owners transfer money, property or assets into the corporation in exchange for shares. These owners then become shareholders of the corporation and they can buy or sell their shares without affecting the existence of the corporation.
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What's a minute book?Each corporation is legally required to keep, maintain and regularly update their corporate minute book. This book is the legal history of the corproation starting from its incorporation. Each decision is recorded into the minute book which allows potential investors, the CRA and interested people (for example, a potential buyer) to assess the history of the corporation. If you need to create, re-create, or update your minute book visit our minute book page. In a minute book, you will generally find: Certificate of Incorporation Articles of Incorporation Resolutions Share Certificates Share Registry Shareholder's Register Director's Register Officer's Register
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What are Shareholders, Directors, and Officers?"Enter your answer here
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Can one person incorporate a company?Yes, one person can incorporate a company by themselves. This person will play the role of the shareholder, director and officer.
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How long does a corporation exist?A corporation can exist forever since it is a separate legal entity. It is independent from its shareholders, directors and officers. It's existence can be ended by dissolution (voluntary or involuntary).
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Do I need a lawyer to incorporate?The incorporation process requires many legal documents which are best prepared by a lawyer. You should always consult with one before incorporating to ensure you have the right and accurate documents.
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What's the difference between a named and a numbered corporation?A corporation can be incorporated using a name or let the appropriate authority provide it with a number to identify the corporation. If dealing with the public, numbered corporations will also declare a business name that they will use for their business purposes.