How Much Does It Cost to Incorporate in Canada?

Nov 29, 2023

 

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.

 

Federal 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.

 

Provincial Incorporation

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.

     

    Need more information? CBES is here to assist you; feel free to contact us for expert guidance.

    You can find Contracts and Documents for Business Owners in Canada here businessdocs.ca

     

     

    Launch Your Business in Canada

    Contact us right now and we will help You!

    Capital Cost Allowance (CCA)

    Capital cost allowance (CCA) is one of several methods to lower your business's taxable income in Canada. The Canada Revenue Agency (CRA) describes it as "a tax deduction that Canadian tax laws allow a business to claim for the loss in value of capital assets due to...

    Motor Vehicle Expense Claims on Income Tax in Canada

    Did you use a vehicle for your business last tax year? This article outlines the motor vehicle expenses you can claim on your income tax in Canada and details the necessary documentation to support your expense claims. The examples provided here illustrate how to...

    Canada Pension Plan (CPP)

    The CPP, also known as the Canada Pension Plan, is a national program that aims to assist Canadians in securing income for their retirement or in the event of disability. It was instituted by Lester B. Pearson's Liberal government in 1965, except in Quebec where a...

    Independent Contractor vs Employee in Canada

    Understanding whether you are classified as an independent contractor or an employee is crucial for your Canadian income tax, especially if you believe you are a contractor but the Canada Revenue Agency (CRA) later decides otherwise after you have filed multiple tax...

    Red Flags That Will Get Your Small Business a CRA Audit

    Receiving a letter from the Canada Revenue Agency (CRA) announcing an audit is something every business or individual fears. Tax experts say about 35,000 such letters were issued in 2023. Business tax returns undergo intense scrutiny, and although there is no...

    How to Manage Business Expense Records in Canada

    Imagine if you were to create a comprehensive list of all the responsibilities necessary for running your business, and then arranged them according to your personal preference. Where would managing business expense records fall within that hierarchy? Would it be...