Corporations often enjoy better tax rates and benefits (such as the Small Business Deduction for Canadian-controlled private corporations, or CCPCs). Operating your business through a corporation may make it easier to bring on investors and may also help limit your personal liability against creditors. Click here to learn more.

Yes, but the name you choose must contain three elements: a distinctive element (i.e., the “name” such as “Acme”); a descriptive element, which describes your company’s business (such as “Widgets”); and a legal ending, such as “Limited”, “Incorporated”, “Ltd.” or “Inc.” You must also obtain a Nuans Name Reservation (SkyLaunch can help you with that) for your chosen name before incorporation. There is no statutory prohibition in Ontario against companies from using same or similar names, but doing so could lead to legal disputes and/or trademark claims so you should be careful. Click here to learn more.

That is entirely up to you. SkyLaunch is designed for solo entrepreneurs and business owners who will be the sole shareholder of their company. This is because before adding other shareholders, you should get legal advice about putting a Shareholders Agreement in place to make sure you and your business partners are on the same page at the start. You can contact our affiliated law firm SkyLaw and a member of the SkyLaw team would be more than happy to guide you through the process. See here for more information. But you can always go ahead and incorporate as a sole shareholder first and speak with a lawyer to add the others. Click here to learn more.

That is entirely up to you. SkyLaunch is designed for solo entrepreneurs and business owners who will be the sole director and officer of their company. This is because before adding other directors and officers, you should get legal advice about putting Director’s Consents and Employment Agreements in place to make sure everyone’s on the same page at the start. You can also contact our affiliated law firm SkyLaw and a member of the SkyLaw team would be more than happy to guide you through the process. But you can always go ahead and incorporate first and speak with a lawyer to add other directors and officers.

Not much at all and it’s quick and easy! SkyLaunch’s expertly designed self-guided process will walk you through each step. And you can always ask us or a lawyer at SkyLaw to help you. For more on what you should think about before incorporating, read our short blog here.

After incorporation, you will receive access to an online digital “minute book” which contains the the articles of incorporation, the by-laws, shareholder and director resolutions and corporate registers. Keeping your minute book up-to-date is a legal requirement. See here for more information. Become a SkyLaunch Member and let us help you with that!

No. For Ontario, you don’t need to be a Canadian resident nor do you need to have a Canadian resident director for your company (like in some other provinces). Our sister law firm SkyLaw has a helpful blog here for more information.