Easier access to capital – Corporations can borrow money at lower rates. They can also raise money by selling shares or bonds to investors (called shareholders).
Lower tax rates – Corporations are taxed separately from their owners. Corporate tax rates are generally lower than personal income tax rates.
Limited liability – Shareholders are not responsible for a corporation’s debts. If your corporation goes bankrupt, your shareholders only lose up to what they invested.
Separate legal entity – Corporations have the same rights as a real person, including owning property, getting loans, and entering into contracts.
Continuous existence – Corporations live on until they wind up, amalgamate, or give up their charter (for example, when they go bankrupt). With other business structures, a business stops existing when the owner dies.
Standard Incorporation Packages include all mandatory documentation required to properly incorporate and organize your company. This includes preparation and filing of the incorporation and extra-provincial or extra-territorial registration documents, along with corporate organization, (including share issuance, by-laws, registers, ledgers, organizational resolutions and share certificates). The purchase of a corporate minute book and seal is also available, along with registration services for a variety of tax accounts.
|Processing Time||2-5 business days|
|Government Filing Fee||$200.00 plus applicable Provincial Filing Fee as follows:|
|Prince Edward Island||No Fee|
|Annual Return Filing Fee||$20.00 (if filed online)|
|Type of Name Search Required||Canada based NUANS Search|
|Director Residency Requirements||25% resident Canadian directors required|