By “incorporating” your business, you create a “corporation.” Your business then becomes a legal entity with rights and obligations of its own.
In most cases, Canadian law considers a Canadian corporation to be a separate entity from the individual people who own it. Acting through their directors, corporations can do things in their own name, like enter into contracts, open bank accounts or pay salaries to employees.
Ownership of the corporation can be divided between several people. This allows profits to be distributed in the form of dividends, for example. This isn’t the only way to share ownership of a company, but it is one of the most common.
Incorporation offers several benefits to business owners in comparison to a sole proprietorship, also known as being self-employed. There may be some drawbacks too.
BizFile Canada offers Canada Incorporation Service with company lifetime good standing support for only $199.99 plus government fees. Canada Incorporation Service. Incorporate now a new corporation in Canada fast, easily, and online.
For more information, please visit our website at
No comments yet.