As a sole proprietor, you are operating your business under your own name and are personally liable for all debts and liabilities incurred by the business. Incorporating your business creates a separate legal entity, meaning that the business is considered a separate entity from its owners and shareholders. This separates your personal assets from those of the business, providing limited liability protection for the shareholders.

Incorporating your business can provide several benefits such as limited liability protection, potential tax savings, increased credibility, and the ability to raise capital through the issuance of shares.

The most common types of business structures are a corporation, and a limited liability partnership (LLP). Each structure has its own set of advantages and disadvantages. Please contact us to determine which structure is best for your business.

To incorporate your business in Canada, you'll need to choose a name, file articles of incorporation, obtain necessary licenses and permits, register for taxes, and create corporate bylaws. Please contact us to ensure compliance with all laws and regulations.

Corporations are required to hold annual meetings and file annual reports with the province. Additionally, corporations must keep accurate records of their financial transactions and file corporate income taxes. Please contact us to ensure that you are aware of the ongoing requirements and compliance with all laws and regulations.

The cost to incorporate a business varies depending on the province in which you are located, the type of business structure you choose, and the services you require. Typically, the cost ranges from a few hundred dollars to several thousand dollars.