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Ontario|Business LawCorporations 220 Can you incorporate a business yourself? The incorporation of a business in Canada can be done very quickly and a routine incorporation can easily be completed within a week by anyone familiar with the various forms required by either federal or provincial governments.
With a careful review of the government forms to be filed, reliable name search results and a clear understanding of the best structure for your business, it is possible to do it yourself.
If you have never incorporated a business before, however, it may be prudent to hire an experienced person. Although it is not a requirement, most people feel more comfortable hiring an experienced lawyer to do the paperwork. These days, lawyers can be found in the business pages of the telephone book who charge a flat fee of $500-$1,000, plus the filing fees, to incorporate your business for you.
The main reason to consult with someone who has experience is to decide on important issues, such as what types of shares and how many shall be issued, who the directors will be, licensing and government registration that your business requires, and so on. A corporate and commercial lawyer should be able to easily answer your questions and help you make the best decision for your situation.
The cost of establishing a Canadian corporation is relatively modest. For example, the fee in Ontario is $360 ($300, if done electronically on the Internet). The fee for federal incorporation is $250 ($200 if registered on-line). Also, some law firms have so-called "shelf" corporations that are already incorporated and can be activated immediately, if required.
For more information about incorporating a business, refer to other sections of Legal Line , for legal advice contact a lawyer.
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