How to Register Your Business in Canada

By Pimarn Charn

Need to know Canadian business and register your business by yourself

This book is a comprehensive guide to register a business in Canada.
This one package will completely assist you to register your business by yourself.
You may not need to hire a costly lawyer and/or accountant to do it for you.
All contact addresses, application forms, and online links are provided.

Before we run our own business or are to be hired by other companies as a contractor we must register our business first. Many of us nowadays are registering a business and employed by other companies as a contractor for many reasons. A few of them are the purpose of taxes management and the labor market culture. If we were hired as a contractor we would have more flexibility to manage our incomes and taxes. Also, the industry tends to gear toward short term hiring, so hiring a contractor would be more suitable than hiring a permanent worker.

When registering our business, most often, we ended up hiring a law firm and accounting firm to do this for us. This is not only costly, but also complicated sometimes. In fact, we could do it ourselves for less than half of the costs of hiring them to do it for us. Also, we are better off understanding what is involved and what type of obligation or liability we must be aware of. We don’t want to throw ourselves into a situation where we are unable to protect ourselves should there be a case when our clients have some issues with our services.

Another imminent purpose of this book is to put all necessary information into one context where we can easily understand and follow it. With the assistance of this book, the readers can go on to register their company by themselves. Some readers might have tried to do it in the past, but it wasn’t success. Because of government information and regulation, we expected to find a simple guide that could walk us through in a one stop shop. Unfortunately, this is not the case.

Importantly, the readers will learn and able to register the business in Canada. The book will describe the different types of businesses such as sole proprietorship, partnership, corporation, not-for-profit corporation and all types of business available to register in Canada. It also includes the advantage, disadvantage, and obligation in registering each type of businesses. Once we decided which type of businesses we are going to register, the book will walk through the procedure of registering business name, number, license, GST/HST account, payroll account, and other required account that the specific business might need. The book also provided all necessary forms to register the business and its related accounts.

• Language: English
• Publisher: Pimarn Charn
• Release date: Mar 7, 2016
• ISBN: 9780994855244

Pimarn Charn

We are an online business entrepreneur at www.abituum.com. Our critical mission is “to help other people to improve their situation for living”.We sell selective products to all people around the world. Money, health, belief and relationship especially related to our family and friends are main parts of this eBooks information.We strongly believe that everyone can find a better way for their living, improve their life, and create their well-being if they can get a hand on this information at the earliest.Abituum.com has also built in Blog and contact information for people to make any comment. All comments will be considered and used to find more products and information that will help people, if not most of people, to improve their living, as our critical mission.

Book preview

How to Register Your Business

in Canada

This book is a comprehensive guide to register a business in Canada.

This one package will completely assist you to register your business by yourself.

You may not need to hire a costly lawyer and/or accountant to do it for you.

All contact addresses, application forms, and online links are provided.

By

Pimarn Charn., Ph.D., MBA

Copyright © 2015 by Pimarn Charn

All rights reserved,

Including the right of reproduction

In whole or in part in any shape of form

Library and Archives Canada Cataloguing in Publication

Charn., Pimarn

How to Register Your Business

in Canada

This book is a comprehensive guide to register a business in Canada.

This one package will completely assist you to register your business by yourself.

You may not need to hire a costly lawyer and/or accountant to do it for you.

All contact addresses, application forms, and online links are provided.

ISBN 978-0-9948552-4-4

To My Greatest Parent

To the greatest parent on earth who provides me with all the support needed to encourage my knowledge and my life.

The life suggested by them is one in which I help others out.

They encouraged me to share my knowledge with people and to give people whatever I can give to improve their wellness and lives.

Disclaimer

This book is written with the sole purpose of sharing information and experiences. It is hoped that readers will make use of this information to fit their needs and take their own ultimate responsibilities. This book is, therefore, provided and sold with the knowledge that the publisher and author do not offer any legal or professional advice. It is recommended that the readers consult with professional expertise before proceeding with any decision.

This book does not contain all information available on the subjects discussed. Rather it contains only information that the author did made every effort to compile from various researches. There are no representations or warranties, express or implied, about the completeness, accuracy, reliability, or suitability with respect to the information contained in this book for any purpose. References are also provided for informational purposes only and do not constitute any endorsement, support, or guarantee of this information. Any use of this information is solely at the readers own judgment, responsibility, and risk.

Also, the author has made the best of his ability to explain them in a simple way. The methods describe within this book are the author’s personal thoughts. They are not intended to be a definitive set of instructions. This book should, therefore, serve only as a general guide for further educating or learning and not as the ultimate source of this subject matter. The readers must analyze the information, make their own judgment, and use responsibility. The publisher and author shall not have any liability or responsibility to any person or entity incurring directly or indirectly from using the information contained in this book.

The Purpose of This Book

The author is almost certain that each and every person who has been employed for a long period of time will have a few moments in their life to think whether they should forever be an employee or should start up their own business. Nevertheless, many of us have already started our own business by registering a company name and remain employed by a big company as a contractor instead of a full time or part time employee.

As stated above, before we either work for ourselves and run our own company or allow ourselves to be hired by other companies as a contractor we must register the company first. It is worthwhile to note here that many of us nowadays are registering companies and being employed by other companies as a contractor for many reasons. A few of them are the purpose of taxes management and the labor market culture. If we were hired as a contractor we would have more flexibility to manage our incomes and taxes. Also, the industry tends to gear toward short term hiring, so hiring a contractor would be more suitable than hiring a permanent worker.

When we are hired as a contractor we have to have a company and it has to be registered. Most often, we ended up hiring a law firm and accounting firm to do this for us. This is not only costly, but also complicated sometimes. In fact, we could do it ourselves for less than half of the costs of hiring them to do it for us. In addition, we are better off understanding what is involved and what type of obligation or liability we must be aware of. We don’t want to throw ourselves into a situation where we are unable to protect ourselves should there be a case when our clients have some issues with our services.

Another imminent purpose of this book is to put all necessary information into one context where we can easily understand and follow it. With the assistance of this book, the author hopes the readers can go on to register their company by themselves. Some readers might have considered or tried to do it in the past, but it never happened. Why is that so? This was the same case experienced by the author. When we wanted to register the company we looked through government information and regulation first. We expected to find a simple guide that could walk us through in a one stop shop. Unfortunately, this was not the case.

As we searched through the government information we had to go through page after page and each of these pages has to be tracked down at many different locations. By the time we thought we had all the information we lost our sense of what procedure to take. And most often, it discouraged us from the continued pursuit of what we wanted to do. We had to start from the beginning again and try to follow the information. This is what we would like for you to avoid.

Importantly, this book will summarize everything in one place and try to use as few pages as possible so the readers can finish the reading and move on to register their company right away – no confusing or complicated procedures and no doubt as to whether the readers could do it or not.

The intention of this book is also going beyond a business registration to cover some basic necessary information that business owners must know before registering or starting their business. The author is not going to go into detail, but provide just brief information so that any potential business owner is aware of what they are getting into. This is to help the potential business owners plan better and have the basic information ready in hand in case they have to make some changes to their business.

In addition, the potential business owners must also be aware of the consequence and in some cases penalties, as well as fees they might encounter if they do not properly follow or fulfill the requirements.

Last, but not least, this book is a comprehensive guide to register a business in Canada. This one stop package will completely assist you to do it by yourself – no need to hire a costly lawyer and/or accountant to do it for you. All contact addresses, application forms, and online links are provided. However, if the potential business owners, as readers, don’t really want to do it by themselves, this book also provides a summary of some private-sector service providers that they can do it for readers for a certain fee. This information is included in Appendix A.

It is important to note here that registering a business in Canada can be slightly different from one province to another. This is mainly in regards to the filing fee and registration forms. Although this book often chooses to use the province of Ontario as an example, the book also covers enough principles and information that it could be applied to the remaining provinces of Canada as well.

Chapter 1: Registering Your Business

This chapter is going to provide a general view on a business registration. First and foremost, is to know of which government section deals with business registration.

As a business owner or potential business runner, you must understand some important obligations and liabilities that come with running a business. Are there any penalties if you didn’t properly register your business before running it? You cannot start a business whenever you want to. You must follow the proper rules and regulations and do it right at the first time to prevent all complications and consequences from not doing it properly.

Since the business wants to register and is going to follow the guide imposed by the government, the business must start with its contact person and proper address. The reader will learn some brief information on this matter in this chapter.

Which government section looks after business registration?

The Ministry of Government and Consumer Services (MGCS) and through it Companies and Personal Property Security Branch is the government section that looks after business registration. They maintain a registry of business names of all types of business under the Business Names Act. In the province of Ontario of Canada, this Companies and Personal Property Security Branch is located at 2nd floor of 375 University Avenue, Toronto, ON M5G 2M2. However, its mailing address is Suite 200, 393 University Avenue, Toronto, ON, M5G 2M2.

What are the obligations of running business?

Obligations are basically the responsibilities that apply to a business while it is being run. These obligations include filling returns regularly, remitting amounts owning as required, and making sure that all books and records are being kept in a good manner, ready to be checked and/or edited as needed.

Depending on what type of business and/or business activities the business is engaging in, obligations could also include registering with an appropriate Canada Revenue Agency (CRA) accounting programs. These CRA accounting programs include goods and services tax (GST) or Harmonized sales tax (HST), payroll accounts, corporate income tax accounts, and import and export accounts.

What are some liabilities that the business must take?

Certainly, the business must take liability on any business it conducts. This includes all operations and activities that could cause damages to others when it is proved that these damages were made by the business.

The business could also be subject to liability even before it starts operating. For instance, if the business registers the same name as another existing business, the business has to assume any liability resulting from using the other business’ name.

On the day before operating of this new business, the existing business with the same name could file a lawsuit and claim damage or