Skip to main content

A Guide to Federally Regsiter a Company.

          Business Planning. Small Business Finance.

           How to federally register a company in Canada.

  • Determine the Jurisdiction: Decide whether you want to register your numbered company federally or provincially. If you want to register federally, you will need to register with Corporations Canada, a division of Innovation, Science and Economic Development Canada (ISED). 

     

  • Choose a Unique Name: As a numbered company, you will have a numeric identifier instead of a specific name. The number will be assigned by Corporations Canada during the registration process. 

  • Complete the Application: Visit the Corporations Canada website and access the Online Filing Centre or download the appropriate forms. The specific form you need will depend on the type of business structure you choose (e.g., corporation, cooperative, etc.). 

     

  • Fill Out the Application: Provide all the required information, which may include details about the company's structure, directors, officers, and registered office address. Since it's a numbered company, you won't have to enter a specific name. 

  • Pay the Fees: There will be registration fees associated with the federal registration process. The exact fee amount will depend on the type of business structure you choose and the filing method (online or paper). Check the Corporations Canada website for the current fee schedule. 

     

  • Submit the Application: If filing online, follow the instructions to complete the online application and pay the fees. If filing by paper, print and sign the completed application forms and mail them, along with the required fees, to the address provided on the forms. 

     

  • Await Confirmation: Once the application is submitted, Corporations Canada will review it and process your registration. You will receive confirmation of the registration, along with a Business Number (BN) and Corporation Income Tax Account Number (if applicable). 

     

  • Comply with Ongoing Obligations: As a federally registered numbered company, you will have ongoing obligations, such as filing annual returns, updating company information when changes occur, and maintaining proper records. Familiarize yourself with these requirements to ensure ongoing compliance. 

     

It's important to note that while federal registration provides broader jurisdictional coverage within Canada, it may not be necessary for all businesses.  

 

We can assess your specific needs and determine if federal registration is the right choice for your numbered company. 

Comments

Popular posts from this blog

How to Report a Business Income in Canada to CRA

    Tax Planning . Small Business Finance   What is considers as Business Income in Canada and how to report it to CRA     In Canada, business income refers to the income generated by an individual or a corporation from carrying on a business. It includes income earned from selling goods or services, rental income from business properties, and any other income directly related to the business activities. Business income is distinct from employment income, which is income earned as an employee.     Reporting Business Income to CRA:     Business Number (BN) : Before reporting business income to the Canada Revenue Agency (CRA), a business must have a Business Number (BN). This unique nine-digit number is used to identify the business for tax purposes. You can register for a BN online through the CRA website.     Determine the Fiscal Year : Businesses can choose either a calendar year (January 1 to December 31) or a fisca...

Cost of Running a Business as a Sole Prop

       Business Planning . Self-Employment . Small Business Finance . Cost of Running a Business as a Sole Prop   As a sole proprietorship in British Columbia (BC), the cost structure and steps to set up your business are relatively straightforward . Here are the some of the general steps and associated costs    Business Name Registration : Choose a business name and register it with the BC government. The cost for name reservation starts around CAD 30 plus taxes.     Business License : Check with your local municipality to determine if a business license is required . The cost of a business license varies depending on the municipality and the nature of your business. It can range from CAD 50 to a few hundred dollars per year.     Business Number (BN) : If you plan to hire employees or register for certain government programs, you may need a Business Number (BN) from the Canada Revenue Agency (CRA). There is no cost to o...

How Do I Pay My Tax Bill In Canada?

Tax Basics. In Canada, there are several methods for paying your tax bill, depending on the type of taxes you owe. Here are common ways to pay your tax bill in Canada:   Online Banking:   You can pay your taxes online through your financial institution's online banking platform. To do this, you need to add the Canada Revenue Agency (CRA) as a payee and select the appropriate account (e.g., personal income tax, business taxes) when making the payment. Pre-Authorized Debit (PAD):   You can set up a pre-authorized debit agreement with the CRA, allowing them to automatically debit your bank account for the amount owed on the due date. This option is available for individual and business taxpayers. Credit Card:   The CRA accepts credit card payments through third-party service providers. Keep in mind that these service providers may charge a fee for the transaction. The CRA does not directly accept credit card payments. My Payment (CRA Website):   The CRA provides an...