Registration of a
Sole Proprietorship: $59*

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If you are looking to register a company and will be the only person who performs all the functions required for the successful operation of the business this is called a Sole Proprietorship.

We are able to register a Sole Proprietorship in the following provinces:
Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan.

Sole Proprietorship Information

Province Time Frame for Registration Validity of the
Registration and Renewal
Alberta 1 to 2 business days No annual renewal fee, registration is valid until you file dissolution
British Columbia

Regular Processing 10 to 15 business days 

Expedited services in 1 to 2 business days for an additional fee

No annual renewal fee, registration is valid until you file dissolution
Manitoba

Regular Processing 5 to 10 business days 

Expedited services in 1 to 2 business days for an additional fee

Valid for 3 years and then requires a renewal
New Brunswick 7 to 10 business days Valid for 1 year and then requires a renewal
Nova Scotia 7 to 12 business days Valid for 1 year and then requires a renewal
Ontario 2 business hours Valid for 5 years and then requires a renewal
Prince Edward Island 5 to 7 business days Valid for 3 years and then requires a renewal
Saskatchewan 2 to 3 business days Valid for 3 years and then requires a renewal

It’s important to know, an owner of a small business is fully responsible for the business debts and obligations with their own personal assets. Thus, the business owner has unlimited personal liability.

If you are interested to get a limited liability company protecting you from personal liability for your business, you should consider incorporating your company.

Benefits and Disadvantages of a Sole Proprietorship

Benefits Disadvantages
Easy and inexpensive to set up Unlimited personal liability
Little regulation from the government Lack of continuity in business organization in absence of owner
Directly controlled by the owner/operator Difficulty in raising capital
Minimal working capital required Owners are taxed at individual tax rate, which is much higher than corporate tax rate
Business is taxed through owner’s personal income tax, and losses can be used to reduce taxes on other sources of personal income
Wages payable to a spouse are deductible from the income of the business

Important Notice:

If you need to discuss your personal situation with a lawyer, chartered accountant or tax advisor, our company is able to refer you to a professional who is able to assist you.