What does it mean to incorporate a business?

Incorporating creates a business entity that is separate from you as a person. As a corporation, your business can enter contracts, open bank accounts, and borrow money independently from you, the owner. This provides limited liability protection, meaning your personal assets are protected from business debts and lawsuits.

What are the benefits of incorporating versus being a sole proprietor?

A corporation gives you limited liability, which means your personal assets are protected if your business is sued or goes into debt. It also offers potential tax advantages (small business rate of 12.2% vs top personal rate of 53.53%), better access to financing, income splitting opportunities, and increased credibility with clients and investors.

How do I incorporate my business in Ontario?

Use SkyLaunch's online platform to complete incorporation in 5 steps: (1) Choose corporation type and name, (2) Provide director/shareholder information, (3) Define share structure, (4) Review incorporation documents, (5) Submit for government filing. The process takes 1-2 business days and costs $399 for business corporations or $499 for professional corporations.

Do I need a lawyer to incorporate in Ontario?

No, incorporation does not legally require a lawyer. However, SkyLaunch is built by lawyers to ensure legal compliance, offering expert-designed self-service that combines legal expertise with DIY convenience and cost savings. For complex situations like multiple shareholders, asset rollovers, or unique regulatory requirements, legal advice is recommended through SkyLaw.

How much does it cost to incorporate in Ontario?

$399 CAD for business corporations or $499 CAD for professional corporations through SkyLaunch, including all government fees, NUANS name search, legal document preparation, digital minute book, Articles of Incorporation, corporate by-laws, and initial resolutions. No hidden fees. Optional Complete Compliance Package available for $50/month for ongoing maintenance.

Can non-residents incorporate in Ontario?

Yes. Ontario has no residency requirements for incorporators, shareholders, or directors. However, you need an Ontario registered office address (not a PO Box), which SkyLaunch provides as part of the Complete Compliance Package for $50/month. No Canadian citizenship or Canadian resident director is required.

What's the difference between a named and a numbered corporation?

A named corporation lets you choose a unique business name (e.g., 'ABC Design Inc.') and allows immediate branding, but requires a NUANS name search to ensure availability. A numbered corporation is assigned a number by the business registry (e.g., '1234567 Ontario Inc.') and is faster to register as no name search is needed. Named corporations take 2-3 days while numbered corporations can be same-day.

What's the difference between business corporation and professional corporation?

Business corporations ($399) are for general commercial activities with no regulatory approval required. Professional corporations ($499) are restricted to licensed professionals (lawyers, dentists, doctors, accountants) and require regulatory body approval from organizations like the Law Society of Ontario or Royal College of Dental Surgeons. Professional corporations have restricted share ownership and must include 'Professional Corporation' in the name.

How long does incorporation take in Ontario?

1-2 business days for most incorporations through SkyLaunch. Numbered corporations are often processed the same day. Named corporations may take 2-3 days due to NUANS name search processing time. Once complete, you receive immediate digital access to your Certificate of Incorporation and complete minute book.

Can I be the sole director and shareholder of my corporation?

Yes. In Ontario, the same person can be the sole director, officer, and shareholder of a corporation. This is very common for small businesses and professional corporations. As your business grows, you can add more shareholders, directors and officers with proper legal documentation like shareholders' agreements.

Do I need a shareholders' agreement?

For solo entrepreneurs with no other shareholders, a shareholders' agreement is unnecessary. If you have or plan to add shareholders, a shareholders' agreement is highly recommended to prevent disputes. It covers ownership percentages, buy-sell provisions, decision-making rights, dispute resolution, and exit strategies. Contact SkyLaw for professional drafting.

What is a NUANS name search and do I need one?

NUANS (Newly Upgraded Automated Name Search) checks if your proposed business name is available and not confusingly similar to existing names. It's required for named corporations in Ontario, valid for 90 days, and searches federal and provincial databases. Cost is included in SkyLaunch's $399-$499 pricing. Not required for numbered corporations.

What do I receive after incorporation?

You receive access to an online digital minute book containing: Certificate of Incorporation, Articles of Incorporation, corporate by-laws, shareholder and director resolutions, share certificates, and corporate registers (directors, officers, shareholders). All documents are accessible 24/7 online with automatic backups.

What are my responsibilities after incorporating?

After incorporating, you must: maintain your minute book at the registered office, file annual returns within 6 months of fiscal year-end with the Ontario Business Registry, prepare annual corporate tax returns (T2), and keep corporate records current. SkyLaunch's Complete Compliance Package ($50/month) handles annual returns, minute book updates, and compliance reminders.

Are there any hidden fees?

No. SkyLaunch offers transparent pricing with no hidden fees or unnecessary add-ons. You pay $399 for business corporations or $499 for professional corporations, which includes all government fees, NUANS search, legal documents, and digital minute book. Optional Complete Compliance Package is $50/month for ongoing maintenance.