JD Tax & Accounting Inc.
Maximize Tax Benefits: How to Open a Company in Canada

Your Pathway to Success: How to Open a Company in Canada

 

CAUTION: 

 

Undertaking incorporation on your own is not recommended. In British Columbia, accountants are not permitted to conduct incorporation services. To bridge this gap, we partner with legal professionals who provide these services at competitive rates. Reach out for a complimentary consultation to get started.

​

Exploring Corporation Formation in Canada?

​

If you are asking Google "How to open a company in Canada" you have come to the right place. Are you considering the financial advantages of a corporate structure or questioning if remaining a sole proprietor is more beneficial for you? Learn the steps for how to open a company in Canada. The process involves various considerations:

​

• The overall costs of incorporation, alongside accounting and bookkeeping expenses.

• The possibility of including your spouse as a shareholder.

• Deciding on the suitable classes of shares to hold.

• Identifying the necessary bookkeeping system.

• Weighing the option between dividends and salary for personal compensation.

• The advantage of a family trust holding shares in your corporation.

• Understanding what constitutes a professional corporation and its relevance to you.

• Navigating income splitting strategies and the Tax on Split Income (TOSI).

• Implications of selling your business in the future.

• Incorporating rental properties and eligibility for small business exemptions.

• What type of bookkeeping system do I need accuracy and compliance when following the steps of "How to open a company in Canada?"

• Managing portfolio investments within your corporation and the associated tax implications.

• Discerning between deductible and non-deductible expenses.

• Differentiating between federal and provincial incorporation.

• The necessity of registering for GST, WCB, and payroll.

• Understanding the distinctions between Ltd, Inc, and Corp designations.

 

Seek Expert Guidance

​

Consulting with an accountant is advisable when considering How to Open a Company in Canada, ensuring compliance with tax regulations. For thorough answers to these questions and more, we are here to provide the advice you need to make a well-informed decision. We guide you step-by-step through the entire process at no cost, starting with a free 30-minute consultation. Contacting us before moving forward is a step you'll be thankful for. An accountant or lawyer can provide valuable insights into structuring your business for success as part of the 'How to Open a Company in Canada' process. Let us help you demystify the incorporation process in British Columbia.