Want to start a company and be the boss? How much does it cost to register a company in Canada? How to file taxes after opening a company?
Mr. Liu was originally an employee of a small company in Ontario and had been living a nine-to-five job. He wanted the years to be peaceful, but unfortunately it didn't come true. The epidemic came and everything changed. Mr. Liu's company has lost more than half of its business. Although he hasn't been laid off yet, he probably will soon. In the dead of night, Mr. Liu thought of the flash of entrepreneurial ideas in the past. Anyway, instead of getting fired one day without knowing it, why not fire your boss first and start a company and be your own boss!
Perhaps this epidemic is the opportunity destined by God for me, Liu, to turn around and rise higher and higher! Although starting a business is risky, what if it is a surprise?
It’s just that going from worker to boss sounds wonderful, but how to do it? This time we will talk about opening a company in Canada.
Is it troublesome to register a company in Canada?
No trouble. When opening a company in Canada, whether it is a federal company or a provincial company, the application process is relatively simple and is friendly even to novices.
Take registering a company in Ontario as an example, it is mainly divided into the following 4 steps:
How much does it cost to register a company?
Is it expensive to open a company? Will the cost be so high that I will be forced to quit immediately?
The answer depends both on whether you plan to register a federal or provincial corporation; and on whether you plan to register the company yourself (DIY) or with the help of a professional.
Although it saves money to register a company by yourself, it is too troublesome.
First of all, the company name must pass the test. If it has the same name as someone else’s company, I’m sorry, please go home and choose a new one.
After that, I have to run errands in person, go to the government to apply for registration, go back and forth between different departments, sit on the phone for several hours, and then go to the tax bureau to open a tax account.
Moreover, when registering a company by yourself, it is easy to make mistakes. For example, forgetting to register a sales tax number results in an HST refund, forgetting to apply for a business license and end up being fined, and like Mr. Wu, a small mistake directly led to the company closing. of.
The thing is like this. Mr. Wu DIYed a federal company in 2017. After Mr. Wu’s unremitting efforts, a large-scale project worth tens of millions was about to be negotiated. As a result, a notice from the government came down, saying Mr. Wu forgot to do the annual inspection for the federal company. The grace period has passed, and now the company has to be forced to cancel by the government!
Mr. Wu’s lesson tells us that Although DIY registering a company does not seem difficult, there are many ways to do it. If you are not familiar with the subsequent process, Be sure, it is best not to choose DIY, but to find professionals to help you complete the registration, which saves you worry and effort and avoids pitfalls.
Golden Key Business Development Center is a government-authorized registration agent. If you register a federal company through us,we can provide you with the followingall-inclusive services:
(1) 15-minute company registration consultation
(2) NUANS name checking service
(3) Help you organize registration documents
(4) Help you submit Initial Notice
(5) Help you register your company’s business account and tax ID
Which corporate form is more suitable for me? What information is required for company registration? How to open an account? Give us 15 minutes and we will explain it clearly to you.
If you plan to open a small company where you have the final say, just use the above package.
If you plan to open a company with other people, or the investment amount is relatively large, you may need other registration documents later, such as articles of association, equity agreement, minute book, etc.
In this case, our website also provides you with self-service, allowing you to selectively register your company. With a simple 3-step process, you can register your company yourself.
How to file tax returns after company registration?
After the company is registered, you still need to go to the bank to open a bank account for the company and prepare for subsequent accounting and tax filing.
Our partnersWang Ke Accounting Firm is one of the earliest and most influential Chinese accounting firms in Canada. If you need it, we can help you Tailor-made an accounting and tax filing service system. If you have difficult accounting or tax issues, you can also come to us for consultation.