Thank you for doing this video it really helped me understand a lot more about incorporation and everything that is involved. I look forward to more videos!
@@sarbjeet7 Neat! I've found that formalizing business duties is so important, especially for family-run businesses or businesses between friends (less headaches for everyone later on).
Great video I had a question. I am starting a Shopify store and want to sell all over Canada eventually the US. I already incorporated an LLC federally and my business is based in BC. I understand I still have to register provincially in BC. But I still have to register in each province I want to sell in even if I do drop shipping ?
Informative video Thank you. One question. As i am British Columbian. I about to start my e-commerce Amazon business very soon. Should i register as a federal or bc provinces incorporation ? Which is better in my case ? Really appreciate if you answer thanks
Thank you for your video excellent video, just one thing, now I am providing engineering consulting services in British Columbia, Canada. I used to operate as a sole proprietorship. However, the recruiting agency I am currently working with, based in Ottawa, is asking me to incorporate my business as an independent contractor in order to continue working with them on a year-to-year contract. Now I'm wondering whether I should opt for federal incorporation or provincial incorporation. Which type of corporation would be more suitable for my situation?
@@czarinapacaide8767 . Thankyou again for the value information and links you offer here. but, I probable need to ask the question in different way: where can we find the templets, of articles, agreements, and so on?
Awesome video THANK YOU. I have an e-commerce business that I purchased from my uncle. I live Quebec and I would like to make a Canadian corporation for my company since this is where I will be doing most of my business operations. Is a registered Canada corporation the best way to go? Does QC have different rules regarding this? Should I register as a numbered company and just Trademark the name?
Glad you enjoyed it -- congratulations on your new business venture! Hm, for Quebec, I definitely will look into getting advice from a Quebec-based business lawyer on whether it's best for you to be a provincial Quebec corporation or a federal Canadian corporation (generally, laws in Quebec differ from the rest of Canada). As for registering a numbered company and then trademarking the name, that's a common thing being done and will give your business name more legal protection against copycats. It may be the way to go depending on your goals :) Do let your business lawyer know about where you see your business in the next 5 years. This will help you get advice (and make smart investments) that make sense for your career & life goals. Hope this helps!
Hey great video I just have a question. Would there be implications if someone outside of Canada and NOT from the states become a shareholder of my corporation? Should I let someone not from Canada own shares in my company here?
Great question Peng! One of the implications of having non-Canadian residents as shareholders of your Canadian corporation is that, depending on how many shares they hold, your corporation may become designated as a "foreign company doing business in Canada." This may increase the taxes you'll have to pay or limit your access to government funding. As to whether you should let a non-Canadian resident own shares in your corporation, I think this is a great conversation to have with both your business lawyer and your tax preparer (preferably with them in the same room/call, so they can understand your overall goals for your corporation, your concerns, and then help you structure your business based on that). Hope this helps!
Hi Sarabjeet! Great question. In the sample provided by BC, it won't actually be in your articles--you want to look at the share structure listed in the incorporation agreement instead (the part where it says the name of the incorporation and the number of shares owned by that incorporator). For federal applications, you want to look at the class of shares and who's been assigned what and how many of each class. Once you've incorporated, that information will be listed in the securities register (which is basically a table/chart detailing information about the shareholders) which you'll be putting in your corporate minute book. Hope this helps!
@@czarinapacaide8767 Thanks for the detailed answer. It's clear the doubt, it will be classes of share and the number of shares allotment among the shareholder which decide the ownership percentage. Thanks for creating this content, on youtube information related to forming an Incorporation is very limited. I have gone through almost all of the videos they all talk about the similar content as you have covered few other parts and most important your video is new from current year 2021 that really give us surety that content is uptodated. Keep on uploading informative videos :-) Thanks
Thank you for your lovely video! I want to immigrate to Canada, I have a valid express entry profile (i have a UCI number and profile number), my overall score is 362 (according to comprehensive ranking system RSI), its not enough to being selected from the pool and get my PR. would registering a company help me in my case? will it be possible to hire myself and hence increase my RSI score so I can move to Canada soon? could you please advise me on how incorporating a business will help me immigrate to Canada soon. Many thanks
I recommend mastering french for extra 50 points. getting the easiest master's degree. try to get a job offer! studying visa is another possible option. however, for getting a job offer without LMIA, you must be from a specific set of countries that are LMIA exempt or a French speaker otherwise getting a job offer will not be LMIA exempt and it will be much harder. Good luck :)
Hi Bushra, great questions! It's actually quite a process for Canadian companies to hire foreign workers, so I can't give a blanket recommendation to register as a Canadian company. I think your best bet will be to speak with an immigration lawyer familiar with the laws in Canada (so not just a general immigration visa processing firm). That way you can explore with that your lawyer your options given your situation and preferred timeline. Depending on your situation & your goals, some (or all) of MB's suggestions may actually be your best route to get your PR. All my best!
