Incorporating a Business in Sarnia
At George, Murray, Shipley, Bell, LLP, our experienced corporate and commercial lawyers work diligently with small, mid-sized, and large companies in Sarnia to develop a business formation plan that minimizes tax and personal liability in a fashion that supports profitability and goal achievement.
Our team of experienced incorporation lawyers considers our client’s best interests first and foremost. That is largely because the perfect type of business formation for one organization may be unsuitable for another.
Benefits of Working with Experienced Incorporation Lawyers
Incorporation law remains a complex area, and simple missteps can leave entrepreneurs and shareholders liable for business activities beyond their control. When starting a business in Ontario, it is essential to consider insulating business professionals from financial setbacks while also selecting a business platform that advances your interests.
Experts in Various Business Formation Structures
Each business structure delivers unique benefits and potential liabilities that must be considered against your goals, profitability, and liability. There is no one-business-fits-all solution. Here are the primary business structures we have experience working with.
The upside to creating a sole proprietorship involves benefiting from all the profits. By that same token, this business formation model can also increase personal liability.
Although this structure is not necessarily formally incorporated, it supports merging the parties’ resources and shared profits. As experienced incorporation lawyers, we strongly advise our clients to craft a partnership agreement that minimizes misunderstandings and provides dispute resolutions.
This type of new business formation model can be handled at the federal or provincial level. Among the primary benefits, it shields shareholders from personal liability.
Often employed by non-profit and not-for-profit organizations, this business formation type usually provides shared ownership among its members. Such organizations often enjoy shared goals and interests.
Steps to Incorporating a Business in Canada
Incorporating a business federally in Canada is a 4-step process that can be completed online through the Government of Canada website.
- Register the company name or company number
- Create articles of incorporation
- Choose a registered office and board of directors
- Submit your incorporation application and pay the associated fees
Requirements after Incorporating a Business
After the business incorporation process is completed, there are several records you are legally required to keep to maintain your incorporation status.
- Share records
- Company/business updates
- Annual return and resolutions
- A minute book
When you choose to incorporate a business, we recommend working with our experienced incorporation lawyers to ensure the articles of incorporation are customized to your unique business needs.
Incorporation Lawyers for New Businesses in Sarnia
If you are considering forming a new business entity or need to restructure an existing one, our incorporation law firm works closely with industry leaders and takes a comprehensive approach to business formation solutions. For more information, contact George, Murray, Shipley, Bell, LLP, at our Sarnia office and schedule a consultation today.