A Corporation is an incorporated entity with its own rights and responsibilities as a distinct person under the law. A corporation is owned by the shareholders and managed by directors chosen by the shareholders. The owners of a corporation are not personally responsible for the debts of the corporation. The corporation is responsible for its debts.
Fees for Federal Incorporations (Canada wide) are $200 for online filing or $250 for using the printed forms. Federal Incorporations forms are available from the Mississauga Business Enterprise Centre (MBEC). Internet filing is available at: www.ic.gc.ca/corporations.
Fees for Provincial Incorporations (Ontario wide) are $300 for online filling or $360 for using the printed forms. Provincial Incorporations forms are available for a fee from Staples or Grand & Toy. If you incorporate electronically you must use the services of either online primary service provider: OnCorp at www.oncorp.com or ESC Corporate Services www.eservicecorp.ca (primary service providers are under contract with the Ontario Ministry of Government Services ) to complete the online Articles of Incorporation. The primary service providers may charge their own service fee.
PROFESSIONAL ASSISTANCE FROM AN ACCOUNTANT AND LAWYER IS RECOMMENDED IF YOU DECIDE TO INCORPORATE.
For further information, read MBEC's document on "Incorporation Information" or register for MBEC's "Starting a Business Workshop" available through the Recreation and Parks Department of the City of Mississauga.
Looking for training on starting or running a business? Well then look no further. Check out the Mississauga Business Enterprise Centre's (MBEC) upcoming seminars.