Step 1. Things you should consider before beginning the incorporation process:
1.1. Naming your business: Will you use a numbered company (i.e. 1234567 Ontario Inc.) or a named company (i.e. Clausehound Inc.)?
1.2. Jurisdiction: Will you be incorporating your business provincially or federally?
1.3. Corporate address: Have you chosen what your corporate address will be? Note, it cannot be a P.O. box.
1.4 Business organization: Have you thought about how many directors, officers, and shares the company will have?
1.5 Year end: Have you chosen a year end for accounting purposes?
Step 2. Create your Articles of Incorporation:
On Clausehound.com, you will be able to find a number of Articles of Incorporation templates which can be inputted into the incorporation software. Choose the one that is fitting for your organization, fill it out using the decision making criteria outlined in Step 1, and have it ready to be copied into the incorporation software.
Example: A simple, 2 share class Articles of Incorporation that provides for an unlimited number of Class A (voting) shares, and an unlimited number of Class B (non-voting) shares.
Step 3. It’s time to begin the incorporation
Using our partner, Cyberbahn, do-it-yourself incorporations are as easy as ever! Click the Cyberbahn logo below, and begin the registration process.
3.1. To start: Sign up for Cyberbahn, change your password, and log in.
3.2. Naming your business: If you want to create a named corporation, rather than a numbered one, click ‘Start a Business’ in the menu bar, click ‘Name Searches’, and proceed from there.
3.3. Incorporating your business: Click ‘Start a Business’ in the menu bar, click ‘Incorporations’, and carefully bring over the information that was decided on in Steps 1 & 2 into Cyberbahn’s system.
3.4. Initial Filing: An Ontario corporation must file an Annual Return (which is not related to taxation, just registration of the business) within 60 days of incorporation. This can also be completed through Cyberbahn, or may alternatively be completed directly through the Ontario government.
Incorporating a business is a crucial step in starting your business pursuits on the right foot. If you require help or guidance on incorporating your business, email firstname.lastname@example.org and let Clausehound.com connect you with one of our affiliate lawyers to help usher you through the process!
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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.