If you're debating between registering and incorporating your business, take a look at the benefits and downsides of both. Are you ready to take your business to the next level? Contact Telesearch Corporate Services Inc. to find out where to start.
An incorporation is considered a legal entity. It can own property, sign contracts, borrow money, sue or be sued or be found guilty of a crime.
To help cut down on the expense of ordering multiple NUANS reports if the name you want is not available, NUANS pre searches are available at no charge to a maximum of 10 searches. After that there is a charge of .50 cents per name.
Prior to requesting a NUANS pre search, you should give some thought to the name you want with three alternative choices in order of preference.
If you decide a number corporation is preferred, a NUANS report is not required.
Take a look at the benefits and downsides of registering your business as a sole proprietorship, partnership or operating name.
In the case of a partnership, each of the partners is liable for each other. If one partner makes a bad decision or cleans out the bank account and leaves the country, the other partner is responsible for all debts.
A Master Business Licence is a certificate issued by the Ontario Companies Branch. This is required to open a bank account for a sole proprietorship, partnership, or operating name for a corporation.
A NUANS name search is voluntary; it is not required for business registrations. When you have chosen a name, it should be checked using the NUANS pre search for availability. There is no charge for the first ten pre searches, .50 cents per name afterwards. The pre searches will inform you if there are any corporations, trademarks, or other business names similar to your preferred name.
The Ontario fee to register the business name is $60.00.
Contact Telesearch Corporate Services Inc. to get the registration process started.
The process for an Ontario corporation (online filing Ontario fee of $328 or $360 at a Land Registry Office) is to view the NUANS report. Assuming the name is available, then register the Articles of Incorporation, enter the names and addresses of the incorporators/directors and file the Initial Return confirming the head office address, directors and officer positions (President, Secretary, Treasurer). This can be registered same day quite often within an hour.
For a Canada corporation, the NUANS is sent to an examiner who rules if the name is available. A name for a Canada corporation can me more difficult to obtain. It is being compared to every business & corporation name across Canada. This process can take 2-3 days. Assuming the name is acceptable, the articles are filed with the names and addresses of the directors & head office. Usually by the fourth day the Certificate of Incorporation is issued. It is not unusual to have to do another NUANS report to accommodate the Federal Examiner.