Ontario Business Registration
Small Business Registration in Ontario
For a business to be legitimate in Canada, it needs to be registered.
Tangs Accounting Services offers business registration services to register your business on your behalf so that you can focus on your operations.
The reality of business registration is that it takes a lot of time, effort, and paperwork. The professional business accountants at Tangs Accounting Services offer business registration assistance in Toronto to streamline this timely process for new small and medium-sized businesses.
When you enlist the help of Tangs Accounting Services for business registration in Ontario, you can have peace of mind knowing that we will help you every step of the way.
Business Registration Services
Register your business to legitimize your corporation in Canada. Officially registering your business ensures that you can file and apply for taxes, permits, and more.
At Tangs Accounting Services, we offer a full spectrum of business accounting services, including business registration, to ensure that the country recognizes your business as a corporation. We register your business so that you can establish yourself and set and reach your future business goals.
Learn more about the business registration services we offer at Tangs Accounting Services
Register your business and make any registration changes with Tangs Accounting Services.
We register your business with the Government of Ontario and will help you update any corporation share changes. If you move or your business changes, we will help you with your business information to update any necessary information (i.e. the business name, address and director).
Businesses looking to offer services like alcohol or lottery tickets will need to obtain a license to provide these services legally.
If your business needs licensing to provide any products or services, we can help.
We help businesses fill out all the paperwork and application documentation needed to obtain a liquor license or lottery license.
Annual Return Filing
Every Canadian business that falls under The Canada Business Corporations Act (CBCA) is obligated to file an annual return every year.
This return is different from your income tax return and other returns required by the CRA.
Tangs Accounting Services can help you prepare the necessary information and documentation to file your annual returns online.
To file an annual return, you will need to know:
- Your last annual meeting date
- Your corporation type (distributing/non distributing)
- The legal director of your business
Minutes Books Preparation
A business’s minutes book is a record of all of its activities. These records help track information for corporate, federal, and tax purposes.
Under the Ontario Business Corporations Act (OBCA) and the Canada Business Corporations Act (CBCA), all businesses in Ontario and Canada are legally obligated to keep an up to date minutes book.
A minutes book is essential to your business’s stability and legitimacy, and we ensure your minute book is appropriately maintained and updated for filing and bookkeeping.
We know recording this essential information can be time-consuming, which is why we take care of this tedious work for you.
Frequently Asked Questions About Business Registration
Why do I need to register my business?
According to The Canadian Government, most businesses have to register with the government before they start operations. The only companies that do not need to register are sole proprietorships that use only the owner's legal name as the business name.
You need to register your business in Canada to receive a business number, a business account and apply for permits and licenses. Registering your company allows the government to identify you as a business and give you specific allowances.
That said, there are more than legal reasons to register your business. Registering your business allows you to establish business banking accounts, apply for business loans, and hire employees.
When you register your business with a unique business name, it legitimizes your business and allows you to establish a unique brand that you can grow and expand in years to come.
What do I need to register my business?
To register your business, you will need the following information:
- The current or projected location of your main office
- Any other provinces or territories where you will operate your business
- Your proposed business name
- What type of business you are running (i.e., partnership, corporation, sole proprietorship
Can I register my business?
You are considered eligible to register your business with the Business Registration Online (BRO) if you meet any of the following requirements:
- You are a business owner
- You are a third party requester
- You are a representative with a RepID or a GroupID
- You employ a domestic worker, babysitter or caregiver
You will also need to have a valid social insurance number (SIN) and income tax return filed with the Canada Revenue Agency (CRA).
How do I register my business?
Registering a business in Ontario looks different for corporations and individuals. To register your business as a sole proprietor, you will need to:
- Choose your business name (this name needs to be unique to avoid future legal complications, so you will need to search to confirm your name is not already taken)
- Register your business name
- Register for any necessary licenses, registrations, or certifications
To register a corporation, you will need to:
- Choose your corporation name
- Complete the Articles of Incorporation (Form 1 under the Business Corporations Act)
- Create a cover letter with the name, return address, and telephone number of a contact for the corporation.
- File the documentation to apply to register
You will want to get a professional business accountant at Tangs Accounting Services to help you register your business to ensure everything is accurate and done correctly.
The Ontario Business Names Act outlines that individuals and corporations can get up to, respectively, $2,000 and $25,000 in fines for failing to register or registering false or misleading information.
How much does it cost to register a business in Canada?
It costs 60$ to register a business name in Ontario. This name needs to be re-registered every 5 years for an additional fee of $60.
What is a business registration number in Canada?
A business registration number in Canada refers to a business’s 9 digit number that identifies them as a legal business or entity.
Your business will receive a business registration number if you federally incorporate your business, register or incorporate your business in select provinces, register for any CRA program account, or register using Business Registration Online (BRO).