Things You Will NeedIncorporation documents and fees for your respective province, see below for more information.
The first step in incorporating your business in Canada is deciding on whether to incorporate your business federally or provincially. The main difference between the two is that in federal incorporation you can carry on your business in each of the provinces in Canada. However, it is more costly to incorporate federally and there is more paperwork, while provincial incorporation will only allow your corporation to carry on its business at the specific province where you had the incorporation.
The second step is to choose your corporate name. Make sure that your corporate name is unique and does not resemble another corporate name. You can do an online name search on the CIPO Website.
The third step is to prepare the incorporation documents.
- The Memorandum sets out the rules for the conduct of the company
- The Articles of Incorporation include the rules and regulations that will govern the conduct of the company members and directors. The names of all the owners, officers and shareholders of your company are also included in the Articles of Incorporation.
- Notice of Offices states the location of your registered office and your records office.
- If you are incorporating federally you have to prepare the Notice of Directors which contains the names and addresses of the company directors.
The last step is to pay your incorporation fee and submit your application together with your documents by fax, online or mail to your respective registries. With regards to the fees, the provincial incorporation rates differ per jurisdiction. See the chart below for provincial fees:
|Prince Edward Island
Federal incorporation costs $200 and an additional fee for the province where your office will be located. The standard processing of your application may range from 5 days to 21 days.