How to Open a Corporation: Step-by-Step Guide
Starting your own corporation is an exciting journey. At OG, we simplify the process for you, ensuring your corporation is set up efficiently and hassle-free. Follow these six steps to incorporate your business with ease:
Step 1: Choose Your Business Structure
Decide whether to incorporate federally or provincially.
- Federal Incorporation: Greater name protection across Canada, ideal for businesses operating in multiple provinces.
- Provincial Incorporation: Faster and often more cost-effective for businesses operating within one province.
OG Tip: Not sure which structure suits your business? Our team will guide you through the pros and cons based on your goals.
Step 2: Fill Out Our Incorporation Setup Form
Provide us with the basic details of your business:
- Proposed company name and type.
- Share structure and number of directors.
- Other key business details.
Once we receive your form, we’ll review and ensure everything is accurate.
Step 3: Confirm Your Details and Sign Draft Articles
After verifying your details, we’ll prepare draft articles of incorporation for your approval.
- Review the draft carefully.
- Sign and submit the finalized documents to our team.
OG Assurance: We handle all the legalities and ensure your incorporation documents meet all requirements.
Step 4: Make Payment
Once everything is finalized:
- Make your payment to complete the process.
- Within 24 hours, we’ll deliver your Articles of Incorporation and registration documents.
We’ll also:
- Register your Business Number (BN) through the CRA.
- Link your corporation to essential accounts like HST, Payroll, and Corporate Tax.
Step 5: Open a Corporate Bank Account
With your incorporation documents and BN in hand, set up a corporate bank account.
- Choose a bank that fits your business needs.
- Provide all necessary documentation, including your incorporation papers and business number.
OG Tip: We can recommend banking partners for seamless account setup.
Step 6: Set Up Records & Compliance
To ensure smooth operations and regulatory compliance:
- Maintain a corporate minute book to document important decisions and records.
- Stay on top of filing deadlines for taxes, annual returns, and other obligations.
OG Tip: Our team can provide ongoing support to keep your business compliant year-round.
Why Choose OG?
- Expert Guidance: Our team ensures a stress-free incorporation process.
- Quick Turnaround: Get your corporation registered and documents delivered within 24 hours.
- Full Support: From incorporation to compliance, we’re with you every step of the way.
Ready to start your incorporation journey?
Contact to Open your Corporation