Register or Open New Business

Canada is a fantastic location for incorporating your business as well as company growth. However, it appears that Ontario is a hotspot since it has some of the highest personal earnings in the country.

Additionally, it has the most outstanding economy of all the provinces and territories. Therefore, in addition to having access to a sizable potential local market, you will also gain from a straightforward registration process, a tonne of assistance in the form of connected services, and advantageous tax rates.

How Do I Register or Open New Business in Canada?

Before you even consider registering and incorporating your business, you must choose whether you want to run your small business as a sole proprietorship, partnership, or corporation. The next step is to pick a name. It must be registered if you use a title different from your legal name. According to the Ontario Business Names Act, failing to do so may incur a hefty charge.

REGISTER a Corporation or Master Business License @Low Rate!

  • Corporation Registration Services
  • Ontario Company Registration
  • Master Business License Registration
  • Not-for-Profit Company Registration
  • Corporation Changes
  • Addition of Director in the Corporation
  • Removal of the Director of Corporation
  • Dissolution of a Corporation
  • Financial Statement Preparation
  • Business Feasibility Reports
  • Payroll Services for Small Businesses
  • WSIB Registration
  • Federal Name Reservation Report

Let's Help You Get Started

Whether you’re looking to register a new company or open a new branch, Billah and Associates team will assist you every step of the way. From obtaining the necessary Corporation or Master Business License to various Financial Services, we’ve got you covered!

Join the ranks of successful entrepreneurs and start your business in Canada today!

Here are some steps on how to register a business in Ontario.

  • You must register with the Ontario Business Registry if your company has workers, locations, or offices in Ontario.
  • You’ll need an active email account and a valid debit or credit card for online registration and payment. Depending on the sort of business you are registering, there is a registration charge.
  • To check if your proposed business name is already taken, run a free search in the Ontario Business Registry.
  • Set up a ONe-key account (it is a secure login and password)
  • Register for a ServiceOntario account by logging into your ONe-key account (they maintain business registration records).

Register your company as

  • Sole proprietorship
  • General Partnership
  • Ontario Limited Liability Partnership (a combination of a partnership and a corporation). The partners may be people, businesses, or a combination of both.
  • Limited Liability Company Operating Outside of a Province – (this is a Limited Liability Partnership previously registered in another province)
  • Partnership Limited – (this is a business with at least one general partner and at least one limited partner.)
  • Business Corporation – If you are not using a numerical name and registering as a company corporation, you will also need to obtain an Ontario-biased or weighted Nuans name search report to reserve your business name. There will be no acceptance of a Canadian (federal) prejudiced Nuans name search. The Nuans report must be ordered through a private name search business, which may be located online or via a local Nuans member.

Go to the Ontario Business Registry for a comprehensive overview of ownership arrangements and the necessary filing procedures.

ServiceOntario will register you with a 9-digit Ontario Business Identification Number (BIN). for incorporating your business, opening an import/export account, or registering for a Canadian Revenue Agency account; you will require this number (CRA)

Please be aware that the Business Number (BN) supplied by the CRA differs from your Ontario Business Identification Number (BIN) from ServiceOntario.

How to Incorporate an Online Business in Canada?

There are a few processes and significant factors to consider when incorporating an internet business in Canada. You must first pick the appropriate business structure. The next step is to choose where in Canada to register this new business and how it will operate. The following steps include:

  • Registering your business name
  • Forming a company
  • Obtaining a unique BN number
  • Opening a business bank account

A corporation would be the best option for the majority of online businesses. It is perfect for start-ups and internet enterprises since it gives much flexibility and carries less risk than a partnership or a sole proprietorship because you can keep your personal and business assets and liabilities separate.

Benefits of incorporating an online business

Registering your online business has several compelling benefits, including reduced liability, protection for your assets, potential tax savings, more straightforward access to cash through investors or loans, defence against frivolous litigation, increased market credibility, etc.

  • lowered risk because of lower responsibility
  • Reduced taxes and increased corporate deductions
  • Planning your taxes might help you pay less in taxes overall.
  • More reputation and easier access to funding

Reduce your Tax Liability

Since running a business requires a lot of labour, you want to keep as much of your earnings as you can. So, to assist you in doing that here is some tax advice.

  • Make the most of your RRSPs, TFSAs, and RESPs.
  • Share your pension or income with your spouse.
  • Check the exemption for your primary residence
  • Find the tax break or deduction that best suits your needs.
  • Make a generous contribution (and keep the receipt)

Tax Planning

Tax planning is the systematic study and rearrangement of financial affairs to lower the total tax burden for an individual or corporate taxpayer. It entails considering potential short- and long-term tax planning structures, allowances, exclusions, and deductions to reduce the amount of tax owed. Tax planning is evaluating your financial situation and putting in the right plans to lessen your overall tax liability.

What kind of business can I register on ServiceOntario Account?

Choosing a business structure is the first step in starting a small business. Although many other types of organizations exist, sole proprietorships, partnerships, and corporations are the most prevalent. There are several ways to manage your business, such as cooperative or not-for-profit. They include sole proprietorship, Partnership, and Corporation.

Why Hire Billah and Associates CPA?

Billah and Associates Inc. is an honourable Canadian accounting and tax service organization. For the past three years, we have consistently been listed among Canada’s Top 25 Most Popular Small Business Accounting Services. We provide a wide range of services and will develop excellent ways to show your accounting records while upholding best practices and accounting regulations.

A Team that is Approachable and Professional

We are a group of qualified accountants and consultants here to help you with your small company needs. We are proud of our work and our client’s happiness. You won’t use any other small company accounting services after using ours in Etobicoke, Toronto, Mississauga, Brampton, and the Greater Toronto Area!