If you are starting a business, one of the first steps is to decide the type of business you should register. Usually, a startup business is registered as a sole proprietorship or corporation if you are the only owner. It there are multiple owners, then you may register your business as a partnership or a corporation. If the aim of forming a company is not to make financial gains to the owners, then a not-for-profit company is the correct choice.
Incorporate a Business
➤ Corporation is suitable for one or more people forming a company with limited liability.
Professional Corporation
➤ Professionals that can incorporate their practices are: Medical Doctors, Dentists, Veterinarians, Chartered Accountants,Etc.
Limited Partnership (LP)
➤An LP should have a minimum of one general partner and one limited partner
➤General partner operates the business while the limited partner is the investor
Extra-Provincial Registration
➤ When a corporation do business activities in a province that they are not incorporated in
Not-For-Profit Corporation
➤ Not-For-Profit Corporation let you to create a corporation including charitable
corporation
Limited Liability Partnership (LLP)
➤ Limited Liability Partnership is formed by 2 or more professionals
➤ Only for professions:Lawyers, CPA, CGA, Engineers, Health & Medical, Artichects, etc.
LLC or Foreign Corporation
➤ Foreign Limited liability Companies (LLC) and corporations can operate their business in Canada by registering their LLC for a extra provincial license, This process is called extra-provincial registration. We provide LLC registrations in Ontario and British Columbia
Personal Real Estate Corporation
➤ A Personal Real Estate Corporation is formed by a real estate sales person or a real estate broker
General Partnership
➤ A Partnership registration is suitable for 2 or more people forming a business
➤ Partners usually share the profit equally. At least one Partners must be a Canadian resident