Incorporating a business may sound daunting. But with SkyLaunch’s easy-to-use online platform and curated incorporation package, you can incorporate your business in Ontario quickly and easily. Click here to find out why you should consider incorporating your business.

To incorporate your business with SkyLaunch, here’s what you’ll need:

Choose a Name for your Corporation.

How would you like your business to be perceived?

SkyLaunch can help check if the corporate name you want (e.g., “Acme Widgets Inc.”) is available for you to use.

Alternatively, you can opt to have a number be automatically assigned by the business registry as your corporation’s name (e.g., “123456 Ontario Inc.”). Other than the name, there are no differences between a “named” and a “numbered” company.

Click here for more information about choosing a name for your corporation.

Determine the NAICS Code for your Corporation.

The North American Industry Classification System (NAICS) code is a 6-digit code that is used to classify businesses based on the type of goods or services they produce. It is used by government agencies such as the Ontario Business Registry for statistical purposes.

You can search for your business’ NAICS code here.

SkyLaunch’s online incorporation tool can also help you search for a NAICS code. Simply type in one or two keywords such as “restaurant”, "landscape design" or simply "holding company" and we’ll do the rest.

Decide on a Registered Office Address and Business Address for your Corporation.

The registered office address is where official mail for the corporation will be sent and it must be an address in Ontario. It cannot be a P.O. Box, but it can be a residential address.

If you plan to have a business address that is different from the registered office address, have that business address ready as well.

Information about yourself as Sole Shareholder, Director and Officer of your Corporation.

SkyLaunch’s curated incorporation package is geared toward “solopreneurs”. After your business is incorporated, you will become the sole shareholder, director and officer of your corporation. You can always add more shareholders and appoint other directors and officers after you incorporate, but a lawyer should be involved to make sure things are set up correctly between you and these other people.

Click here to find out why and see how SkyLaw can help.

As sole shareholder, director and officer, you should decide:

• How many shares you want to issue to yourself (10,000 is the most common) and what the dollar amount should be for each share ($0.01 is the most common). An accountant can help you decide.
• What title you want as an officer of your corporation (e.g., President or CEO).

We will also need your date of birth (you must be at least 18 years old to incorporate) and your residential address for your corporation’s shareholder and director’s register. Don’t worry, this information is for your corporation’s internal records only and will not be sent to the Ontario Business Registry.

For more information about what it means to be a director, click here. For more information about being an officer, click here. For more information about being a shareholder, click here.

Set the Financial Year End Date for Your Corporation.

This will be the end of each annual period for purposes of your corporation’s tax returns. If you select December 31, then the corporation will have the same taxation year as an individual (such as yourself). However, you are free to select any date or you can do so after you incorporate.

Talk with an accountant to confirm the year-end date that is right for your corporation.

One More Thing ...

After you incorporate, your corporation can operate throughout Ontario, and can also do business in other provinces so long as there is not already a corporation in that province using the same name. If you do so, you should first register as an “extra-provincial company” in that province before carrying on any business there. Click here to find out from SkyLaw about what constitutes "carry on business" in another province such that you may need to register or obtain a licence do to business in that province. SkyLaw can help you with any extra-provincial registrations or licenses that you may need.