The cost of incorporating in Canada varies based on the type of business incorporation and the location where you choose to incorporate. Depending on your intentions of operating nationwide or within a specific province or territory, you can opt for either federal or provincial/territorial incorporation.
The fee for filing articles of incorporation with the federal government is $200 if done online through Corporations Canada’s online Filing Centre and $250 if done using other methods. To complete the process of incorporating your business, you will also require a minimum of one NUANS name search report to confirm that your chosen company name is suitable and distinct. The charge for conducting a federal name search amounts to $13.80, as of 2023.
The cost of incorporating a company varies from province to province. In certain provinces, private sector firms designated as authorized service providers by the provincial government offer corporate registry services, leading to varying fees.
Numerous online registry services provide comprehensive incorporation packages that cover registration fees, filing, and name search. More expensive packages may also include additional items like corporate seals, minute books, and share certificates.
To determine the cost of incorporation in different provinces or territories, it is advisable to visit the business registry or corporate services departments of the specific provinces or territories in which you intend to incorporate.
As of 2023, the costs for provinces with a higher number of incorporated businesses are as follows:
Ontario: The cost of incorporation in Ontario is $360 if done in person or by mail. Alternatively, you can incorporate online through a service provider contracted with the Ontario Ministry of Government and Consumer Services. The ministry charges $300 for electronically filing articles of incorporation, and you will also need to pay the service provider’s charges for their online services.
Alberta: Registering a business in Alberta can be done through one of the authorized service providers. The provincial government charges a basic registration fee of $450. Typically, service provider fees are less than $100. Optional services, such as express filing or annual registered office address fees, may result in a significant increase in cost.
British Columbia: If you decide to incorporate in British Columbia, the basic cost is $350. Along with your articles of incorporation, you must include an up-to-date name approval, which incurs a $30 fee. The B.C. Registry Services site manages this process.
Quebec: In Quebec, the cost of incorporation is $326 for the declaration of registration, and an additional $22 for the name reservation fee. The Quebec business registration site handles this process.
Nova Scotia: Incorporating a company in Nova Scotia costs $336.40, plus a registration fee of $118.35.
Additional Incorporation Costs in Canada
When setting up a business, it’s crucial to account for more than just the initial incorporation fees. Depending on the province, the registration process may need to be renewed annually. In Nova Scotia, for example, the certificate of incorporation remains valid indefinitely, but you must renew the certificate of registration every year, which costs $108.62 as of 2023.
Apart from these renewal fees, there are other expenses to consider as an incorporated company. These include costs associated with filing annual reports, registering in other provinces if needed, obtaining a corporate seal, and preparing and filing corporate taxes.
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