What is required when incorporating in Ontario?

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The first decision is whether to incorporate a numbered or named incorporation.

Numbered Incorporation
The Province of Ontario will provide a 7 digit number from your submission when you select a numbered corporation with the word Ontario and a chosen legal ending.

Example: 1234567 Ontario Inc.

Often a numbered corporation is selected when
•The name of the business will not be advertised, such as a real estate property holding company.
•Multiple businesses will be registered as operating names and a generic corporate name is suitable.
•In a franchise situation where a corporation is required but the business name is protected by the franchise provider.

Named Incorporation
This is when you wish to advertise a business name for your corporation.

Example: ABC Holdings Inc.

Often a named corporation is selected when
•Naming the corporation is important for advertising.
•Name protection is important where no one can use the same name within the same jurisdiction.

Choosing a Legal Ending

There are a number of options available for the legal ending of your incorporation including Inc., Incorporated, Ltd., Limited, Corp., or Corporation. You may choose whichever ending suits you or sounds preferable with your business name.

Additional Information Required for Incorporation:
•head office address
•legal names of directors (please provide as listed on photo ID, such as Driver’s Licence)
•address/es for directors
•share structure (we provide the options of either 1 or 2 classes of shares or you can provide your own)

Who can be a director of an Ontario corporation?
•individuals who are 18 years or older
•individuals who have not filed for bankruptcy (if bankruptcy has been filed, please speak to your trustee about your ability to incorporate)
•individuals who have no criminal record
•a minority of 25% of the directors listed for an Ontario corporation are required to be either Canadian Citizens or Permanent Residents

How long does it take to process?

Ontario Business Central guarantees same day service Monday through Friday on Ontario Incorporation orders placed before 3:00 pm. We also have rush services available with a 2 hour turnaround time for a numbered corporation and a 3 hour turnaround time for a named corporation.

Choosing a Corporate Name

Choosing a corporate name for your business can be one of the most difficult things to do. To make it easier for you, we break it down into three primary elements:

Distinctive Element: This is usually the first word identifying something about your business and what you wish to convey.
Examples:
•Johnsons, Mike's, John Smith (personal or family name)
•Quick, advanced, professional, accurate (dictionary word, separating you in some capacity from competitors)
•Bizchat, Prolette, Tonzons (coined or made up word)

Descriptive Element: This provides what products or services relate to your business. It is much easier for clients to find you when your business name includes what you are providing.

Examples:
•Bar & Grill
•Carpet Cleaning
•Investments
•Music Studio

Legal Element: Choose whichever legal ending suits you or sounds best with your business name. The options are listed within the website.

What is a NUANS Report?

A NUANS report is a mandatory 7 page report required when incorporated within most jurisdictions in Canada. It is very important that you order the NUANS report specific to the jurisdiction within the Province or Territory where incorporating. The report provides a listing of small businesses, corporations, and trademarks that are similar to the name you wish to incorporate.

A pre-search is commonly completed. This is a search of the proposed business name to see if it is available prior to ordering the 7 page NUANS report. If a name is not available, additional names may be provided.

The Ontario pre-search and NUANS report are preselected for you within our incorporation packages.

The NUANS report is provided to the Provincial examiner with the Ministry of Government Services for review and acceptance along with the incorporation documents.

The information provided in this video is specifically designed for assisting those who are looking for general incorporation details and in no way shall be considered as legal or accounting advice. Ontario Business Central is an online portal allowing those individuals who wish to complete a service with us by “doing it yourself”. If you require legal or accounting expertise prior to completing a service with us, we highly recommend in doing so.

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