CorporateRegistries.ca incorporates your new Ontario Corporation in 1 Hour according to the provisions of the Ontario Business Corporation Act. CorporateRegistries.ca provides fast and easy Ontario Online Incorporation Service in 1 Hour and provides FREE of Charge all the documents your new Ontario corporation will need to stay update with the Ontario Business Corporation Act.
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Why Should I Incorporate in Ontario?
Separate Legal Entity
The act of incorporating a new company in Ontario, creates a legal entity called a corporation, commonly referred to as a "company." A corporation has the same rights and obligations under Canadian law as a natural person. Among other things, this means it can acquire assets, go into debt, enter into contracts, sue or be sued, and even be found guilty of committing a crime. A corporation's money and other assets belong to the corporation and not to its shareholders.
When a business is incorporated, its separate legal status, property, rights and liabilities continue to exist until the corporation is dissolved, even if one or more shareholders or directors sell their shares, die or leave the corporation.
Limited Liability
The act of incorporation limits the liability of a corporation's shareholders. This means that, as a general rule, the shareholders of a corporation are not responsible for its debts. If the corporation goes bankrupt, a shareholder will not lose more than his or her investment (unless the shareholder has provided personal guarantees for the corporation's debts). Creditors also cannot sue shareholders for liabilities (debts) incurred by the corporation, even though shareholders are owners of the corporation. Note, however, that if a shareholder has another relationship with the corporation —; for example, as a director —; then he or she may, in certain circumstances, be liable for the debts of the corporation.
Lower Corporate Tax Rates
Because corporations are taxed separately from their owners, and the corporate tax rate is generally lower than the individual tax rate, incorporation may offer you some fiscal advantages. However, we strongly suggest that you ask a lawyer or accountant to help you assess whether incorporating might save you money.
Greater Access to Capital
It is often easier for corporations to raise money than it is for other forms of business. For example, while corporations have the option of issuing bonds or share certificates to investors, other types of businesses must rely solely on their own money and loans for capital. This can limit the ability of a business to expand.
Corporations are also often able to borrow money at lower rates than those paid by other types of businesses, simply because financial institutions and other sources of financing tend to see loans to corporations as less risky than those given to other forms of enterprise.
CorporateRegistries.ca incorporate Companies in Ontario in 1 Hour, Federall Companies in 24 Hours and Companies in all Canada.
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