Ontario corporation
Best for businesses working mainly in Ontario- Filed through the Ontario Business Registry
- No requirement for directors to be Canadian residents
- Register extra-provincially to operate in other provinces
Incorporation & Setup
Ontario Incorporation Handled From Name Search to Minute Book
Incorporating creates a company that is legally separate from you, which can limit your personal liability and open up tax planning that a sole proprietorship does not offer. Lira Tax & Accounting guides you through every step — the name search, the Articles of Incorporation, your share structure, your CRA accounts and your minute book — so you start on solid legal and tax footing. We help founders across Canada.
- Ontario or federal: we help you pick the right one
- Articles, share structure and name search handled
- CRA accounts and minute book ready on day one
- 2,300+individuals & businesses served
- Ontario + Federalboth routes handled for you
- 4offices in Ontario & Alberta
Incorporate on a solid legal and tax foundation
We guide founders through the full Ontario or federal incorporation process: a certified NUANS name search, Articles of Incorporation, share structure design, your CRA program accounts and your Ontario Company Key for hassle-free corporate filings.
A corporation is a legal entity separate from its owners. That generally provides limited liability protection and tax planning flexibility that a sole proprietorship does not have. It also brings obligations: after you incorporate, keeping a minute book and the corporation's records up to date is a legal requirement. We set those up with you from the start.
Ideal forContractors incorporating for the first time, partnerships converting to a corporation, and founders launching something new.
- Who we incorporate
- Contractors & trades
- Consultants & freelancers
- Startup founders
- Partnerships converting
- Online sellers
- Regulated professionals
- Landlords & investors
Should you incorporate?
Tap every statement that sounds like you. The scale tips toward what usually fits, and nothing you tap is sent anywhere.
Tap a statement to start
The scale starts level.
Staying as you are may suit you for now
With small profits and a need for simple paperwork, a sole proprietorship can be enough. Revisit the question as profit grows or your risk changes.
Worth a conversation
It could go either way. A short talk about your income, risk and plans will show whether incorporating pays off.
Incorporating deserves serious thought
Several things point toward a corporation. We can compare both routes for your numbers before you commit.
Incorporating likely makes sense
Liability, profit and growth plans all lean the same way. Book a free consultation and we will map out a clear route.
A rough guide only, not tax or legal advice. The right answer depends on your income, your family situation and your plans.
Talk it through with usSole proprietorship or corporation?
The main differences, side by side:
| Feature | Sole proprietorship | Corporation |
|---|---|---|
| Legal identity | You and the business are the same person | A separate legal entity that owns the business |
| Liability | Personal: your own assets can be reached by business debts | Generally limited to what you put in, though personal guarantees and some director duties (such as payroll remittances) remain |
| Tax | Business income is taxed on your personal return at graduated rates | The corporation files its own T2 and pays corporate tax, then you pay personal tax on what you take out as salary or dividends |
| Paperwork | Lighter: no separate return or records | Heavier: T2, annual return, minute book, registers and proper books |
| Setup | Register a business name, if you use one | Name search, Articles, initial return and CRA accounts |
| Partners and investors | Difficult to bring in | Shares can be issued to owners and investors |
| Selling | You sell the business's assets | You can sell shares, and the lifetime capital gains exemption may apply to qualifying shares |
Corporate income tax on the first $500,000 of active business income is low: a 9% federal small-business rate, plus Ontario's rate, which fell to 2.2% on July 1, 2026. The catch is that money you take out is taxed again personally, so the benefit is mostly in profit you leave in the business. The lifetime capital gains exemption is $1.25 million for qualified small business corporation shares. Both depend on meeting specific conditions.
Ontario, federal, named or numbered?
Two decisions shape the filing: where you incorporate, and whether the company has a name.
Federal corporation
Best for a name protected across Canada- Filed through Corporations Canada
- At least 25% of directors must be resident Canadians
- Still registers extra-provincially in each province of operation
Named or numbered company
A named company
In Ontario, needs an Ontario-biased NUANS report dated within 90 days of filing. Federally, the name search is built into the online filing.
A numbered company
Skips the name search and gets a number, and you can trade under a registered business name.
Not sure which route fits? We compare both for your business and explain the trade-offs before you decide.
From idea to open for business
Six steps, and you do not need to know them in advance.
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Day one
Plan the structure
Who owns what, how many directors and shares, and Ontario or federal.
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Before filing
Secure the name
A certified NUANS search, or a numbered company. Reports last 90 days.
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Filing day
File the Articles
Articles of Incorporation filed. Online in Ontario, the corporation exists immediately.
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Within 60 days
File the initial return
The Form 1 initial return names your directors and officers.
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After incorporating
Open your CRA accounts
Business Number, corporate income tax and payroll accounts, plus GST/HST if needed.
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From the start
Organize your records
Minute book, registers, a separate bank account and clean bookkeeping.
Keeping your corporation in good standing
Incorporating is the start. These are the recurring obligations to plan for:
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60 days Initial return
Due within 60 days of incorporating.
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6 months Ontario annual return
Filed through the Ontario Business Registry within 6 months of your fiscal year-end. It is no longer filed with the T2.
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6 months Corporate tax return
The T2 is due 6 months after your fiscal year-end, and even a quiet year needs a filing.
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Ongoing Minute book and registers
Directors, shareholders, share issues, resolutions and the register of individuals with significant control.
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Ongoing Separate money and books
A dedicated business bank account and proper bookkeeping keep your liability protection credible.
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$30,000 GST/HST and payroll
Register for GST/HST once you pass the small-supplier limit, and open payroll if you pay salary.
Special situations
Converting an existing business
Moving a sole proprietorship or partnership into a corporation? The timing and method of the transfer matter for tax, so we plan them with you first.
Regulated professionals
Doctors, lawyers, accountants and other regulated professionals need their regulator's approval to hold a professional corporation. Tell us your profession early.
More than one owner
We design the share structure around who owns what. For legal drafting such as a shareholders' agreement, you may also want a lawyer.
What our incorporation service covers
Ontario and federal filing
Provincial and federal incorporation filed for you.
Certified NUANS search
Name search and clearance reports.
Articles and share structure
Articles of Incorporation with a share structure built for your owners.
Ontario Company Key
Retrieval, plus corporate profile reports.
CRA account setup
Business Number, corporate income tax and payroll accounts.
Initial return and minute book
Your first filing and a minute book set up correctly.
Five incorporation mistakes we prevent
A share structure that does not fit
How we help: We design it around your owners and your plans, since fixing it later can be costly.
Letting the name search expire
How we help: We time the filing inside the 90-day window.
Missing the 60-day initial return
How we help: We file it for you and diarize the annual return.
Mixing personal and business money
How we help: We set up separate accounts and books from day one.
No minute book or registers
How we help: We prepare the minute book and the required registers when we incorporate you.
How much does incorporation cost?
Every incorporation is different, so we quote each one individually instead of publishing a one-size-fits-all price. You will know exactly what you are paying before we start.
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Ontario or federalThe route you choose.
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Owners and sharesOne owner, or several with different share classes.
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Named or numberedWhether we run a NUANS search.
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Converting a businessStarting fresh, or moving an existing business over.
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ExtrasPayroll, GST/HST and other accounts opened for you.
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TimingA relaxed timeline, or a fast start.
- Free, no-obligation consultation
- Clear quote agreed before we start
- No hidden fees or surprise billing
Prefer to talk it through first? Call us, or send a quote request.
Call (437) 421-7171 Request a QuoteIncorporation help across Canada
Get directionsMeet us in person at any of our four offices, or work with us by phone and video. We incorporate businesses across Ontario, Alberta and the rest of Canada.
Outside Ontario or Alberta? We can still help.
Ask about your province
We work with founders in other provinces and territories across Canada too, by phone and video. Federal incorporation works coast to coast, and we will confirm the rules that apply to you in your free consultation.
What our business clients say
View other testimonials★★★★★
“Wow, what a wonderful services. Excellent corporate tax & accounting services in Toronto, great place for your tax & accounting task. Highly recommend others. Thank you very much for your support. Lira tax & accounting provide very supportive services for corporate needs.”
★★★★★
“I have been to number of accountants for my multiple business ventures, however i found Mr. Razu from Lira Tax and Accounting to be one of the better ones. He is very informative and easily accessible. He is always answering calls and helping small business owners to do their taxes properly. I highly recommend.”
★★★★★
“A friend recommended me Lira tax for my personal and corporation tax and it was done perfectly. Excellent service. If you think of someone to do your taxes, I recommend Lira tax 100%”
Ontario incorporation FAQs: cost, federal vs provincial, and what comes next
Straight answers to the questions founders ask us most.
Ontario (provincial) incorporation is generally simpler and less expensive for a business that operates mainly in the province. Federal incorporation provides name protection across Canada but requires you to register extra-provincially in each province where you operate. Federal corporations must also have at least 25% resident Canadian directors, while Ontario has no such rule.
Incorporating tends to pay off when there is real liability risk, when the business earns more profit than you need to live on, or when you want partners or investors. With small profits and a need for simple paperwork, staying a sole proprietor can be enough. We compare both for your numbers.
The name you want (or a request for a numbered company), the full names and addresses of at least one director, an Ontario address for the registered office, and how you want the shares split between owners. We gather and check the rest with you in your consultation.
Filing online with the Ontario Business Registry is processed immediately, so the filing itself is not the slow part. The steps around it, such as settling the structure, the name search, CRA accounts and the minute book, take a little longer.
For 90 days. In Ontario the report may not be dated more than 90 days before the articles are submitted, so the incorporation has to be filed inside that window. A numbered company does not need a NUANS report. For a federal incorporation the name search is built into Corporations Canada’s online filing, so no separate report is bought.
It is the corporation's official legal record of directors, shareholders, share issuances and resolutions. Ontario corporations must keep one from the start, along with a register of individuals with significant control.
Yes, generally. The corporation is a separate legal entity, so its money needs to be kept apart from your personal accounts, which typically means opening a dedicated business account.
An Ontario annual return through the Ontario Business Registry within 6 months of your fiscal year-end, and a T2 corporate income tax return with the CRA, also due 6 months after year-end. Even a corporation with no activity generally still files.
Yes. Many clients do. Because the timing and method of moving the business into a corporation affect tax, we plan it with you before anything is filed.
Often yes, through a professional corporation, but you need the approval of your regulator first, and the shareholders must usually be members of the profession. Tell us your profession and we will confirm the steps.
It depends on the route, the number of owners and share classes, and any extras such as payroll or GST/HST accounts. We quote every incorporation individually. Book a free consultation and you will have a clear quote before we start.
Related services for your new corporation
View other servicesNUANS Business Name Search
A certified name search before you file.
Learn moreOntario Company Key
The key you need for your corporate filings.
Learn moreCorporate Tax Returns
File your T2 from the first year.
Learn moreAnnual Return Filing
Annual returns filed on time and tracked for you every year.
Learn moreGST/HST Registration
Register for GST/HST when you cross the limit.
Learn moreCanadian Payroll Services
Pay yourself and your team correctly.
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Read the guideLet’s get your corporation set up
Book a free consultation. We will walk you through the incorporation process and give you a clear quote — no obligation.
