According to the Business Corporations Act of the Province of Ontario, there is no requirement for a Canadian resident to be appointed as a director. Therefore, non-Canadian residents are able to incorporate a company in Ontario.
If you would like to conduct your business through a highly prestigious and widely recognizable Canadian legal entity, purchase property in Canada or are planning a business immigration to Canada, formation of an Ontario corporation would be an excellent choice.
The following documents and services are included in the Ontario Corporation Package for Non-Residents:
Government filing fee
Registered office address in Ontario for the first year
Certificate of Incorporation
Articles of Incorporation
Filing the Form 1 Initial Return within 60 days of Incorporation
Directors and Shareholders Organizational Resolutions
Share Certificate issued to each shareholder
All documents emailed in PDF Format
The package will provide all required and standard documents for opening a corporate bank account and to start your business in Canada.
If you are planning to immigrate to Canada as a business immigrant, the incorporation of an Ontario corporation may facilitate immigration to Canada.
Our company supports all Ontario corporations incorporated for non-residents by providing the registered office address, filing of the annual return with the Ontario ministry, filing of changes to corporate information as well as accounting services such as preparation of the annual income tax return.
Advantages of an Ontario Corporation
Highly prestigious Canadian legal entity
No restrictions on the residency of directors, officers and shareholders
Ability to be a one-man corporation, when one individual is a sole shareholder, director, president, secretary and treasurer of the corporation
No requirements of a minimum authorized capital. Corporation is authorized to issue any number of common shares without par value
No restrictions on issued capital. Corporation is able to issue any number of shares for any consideration
No withholding tax on directors fees and salaries paid to non-resident directors, officers and employees, when they work outside of Canada
Corporations pay corporate income tax on net profit. All business expenses are deducted before taxes
Information about Ontario Corporations
- For serving of customers located in Canada, US, EU and other highly regulated jurisdictions
- For conducting business in all highly regulated jurisdictions, where business transactions with international companies are restricted or prohibited
- For purchase of property in Canada
- For purchase of businesses in Canada
- For building of a credit history in Canada
- For planning of business immigration to Canada
Combined corporate income tax rate including federal and provincial components is 26.5%.
All business expenses including salaries paid to employees, directors fees paid to directors, payments to suppliers, advertisement expenses, office expenses etc. are deductible from corporate income before taxes.
Each Canadian corporation is required to file its corporate income tax return annually. The return must be filed 6 months from the corporate fiscal year end. Income tax is payable 2 months from the corporate fiscal year end. Corporations with zero taxable income or losses are not required to pay income tax, but they must file the corporate income tax return on time.
Our company offers accounting services. As a result, our clients are able to comply with Canadian requirements, file their corporate income tax returns and keep their Canadian companies in good standing.
The proposed name should include a distinctive element, descriptive element, and legal ending. Available options for the legal ending are: Limited, Incorporated, Corporation, Limitée, Ltd., Inc., Corp., Ltee
Example: McDonald IT Services Inc.
Restricted words are ones that may be considered to be misleading, and include, for example, bank, trust, insurance, trust, stock exchange, etc.
It usually takes 1 business day to incorporate an Ontario company and prepare all internal resolutions and share certificates.
A minimum of one shareholder is required. Residents of any country, individuals and legal entities may be a shareholder.
We incorporate companies, which are authorized to issue an unlimited number of common shares without par value.
Such share structure gives great flexibility. Corporate directors may issue any number of shares for any consideration. For example, corporate directors may issue 100,000 shares for the total amount of $100. They may decide to issue the same number of shares for the total amount of $100,000, or issue just one share for $0.01. It is totally up to the Board of Directors.
Directors must be an individual, who is at least 18 years old, not found by a court to be incapable of managing the individual’s own affairs, not in a status of an undischarged bankruptcy and not convicted of an offence in connection with the promotion, formation or management of a corporation or unincorporated business, or of an offence involving fraud.
A resident of any country may be appointed as a director. A minimum of one director is required.
Directors may appoint officers and specify their duties. Any individual, including a director, may be appointed to any officer position, including president, secretary and treasurer. Requirements to individuals appointed as officers are the same as to directors. One individual may hold 2 or more positions.
A general meeting of a company may be held outside of Ontario, if the location is approved by a resolution of the shareholders.
If all of the shareholders, who are entitled to vote at an annual general meeting consent by a unanimous resolution to all of the business that is required to be transacted at that annual general meeting, the annual general meeting is deemed to have been held on the date selected in the unanimous resolution.
An Ontario Corporation must have a registered office and a records office in Ontario. The registered office and the records office may be located at the same place.
Our incorporation fee includes the registered office and a records office for one year. Our company will forward to our clients copies of all letters received from the government.
We do not forward letters received from your banks, customers, suppliers, etc. If you wish to have mail forwarding services, you must order our virtual Canadian office.
The annual fee is payable from the second year.
The fee includes registered/records office address for one year, government fee and filing of the annual report with the government.
This fee does not include the preparation of the corporate tax return. Clients may request for our company to assist and prepare their annual corporate income tax return. To obtain a quotation, please contact our company.
Our company scans letters received for your company and forward copies via email. We shred the originals unless you request to forward them to you via courier or registered mail for an additional fee. If you expect more than 30 letters annually, please contact our company to receive a quotation.
Virtual office services are available to our clients, who use our registered/records office address in Ontario.