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Incorporate in Canada

Discussion in 'Business & Tax Advice' started by iamblackhat, Jan 12, 2010.

  1. iamblackhat

    iamblackhat Registered Member

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    I've decided to incorporate a business for internet marketing. I was doing some research and apparently there is a federal incorporation and a provincial incorporation.

    For those who have already incorporated in Canada, just wondering which would be best (federal or provincial) for an internet marketing company.
     
  2. voxclan

    voxclan Regular Member

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    Selecting federal or provincial will have no benefit for Internet Marketing. Both will be ok.

    But

    Is has more to do with the cost of incorporating. Most of the time, a Federal corporation is more expensive to create. So it really depends on your province.

    And also, if at some point in your life you will move to another province, then the Federal corporation will be better since it's valid anywhere in Canada. But if you already know that moving in another province will not be an option, then a Provincial corp will be fine.

    But, always better to consult your CPA for valid info.
     
  3. tenko

    tenko Newbie

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    provincial corporation will be sufficient enough. if u need any help, pm me.
     
  4. alex1

    alex1 Junior Member

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    Occupation:
    Software Developer
    Location:
    Toronto, Canada
    I have federal corp. I did it myself in 2002 without paying any lawyers or going out of my place. For federal corp, the govt fees were $50 cheaper at that time (compared to Ontario corp). It also gives better protection for your corp name (no one in Canada will be able to register similar name in the similar niche)

    In fact, Industry Canada has all the info that you need to incorporate it yourself. Or you could find some cheap incorporation services too.
     
  5. Meres

    Meres Junior Member

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    I am also in Canada and have been doing IM for a few months - made about 5k so far. Should i incorporate a business? What benefits arise? Obviously tax refunds. I also havent declared my earnings as income yet and have just deposited into my bank accounts. What can I make before I need to worry about them becoming suspicious of undeclared income?

    thanks