Incorporation in Ontario (Canada)
June 12, 2021
by a searcher from INSEAD in Toronto, ON, Canada
Hi all - I am looking to incorporate in Ontario, Canada and thinking of cost effective ways of doing so. Any pointers on the process or references would be appreciated as well as guidance on what costs to expect. Many thanks
from Camosun College in Victoria, BC, Canada
1) Preparing the legal documents yourself. I have seen a few instances of an individual preparing the legal documents themselves and they frequently don't issue themselves shares which can be a bit of a pain to fix. Also pretty sure the Notice of Articles used is boiler-plate so you may have an issue if you want to have custom rights on a few classes of shares. This will cost at least $300.
2) Online services - ownr, etc. ($600 or more). For individuals who want some more handholding in incorporating a company. I have never used an online service before so unsure how good the quality of the service is. I assume that the service is best for simple incorporations. If you want multiple class of shares, then using Ownr might not be ideal.
3) Use a lawyer (approximately $1,500). A competent lawyer would be able to incorporate a company in Ontario with no issues. If you are incorporate a company with multiple class of shares (i.e. good idea when raising money) or want special rights and restrictions on certain class of shares, I would just use a lawyer to get peace of mind.
in Tampa, FL, USA