The primary forms of business in Canada are:
- Sole proprietyships
- Partnerships
- Corporation
- Co-operative
What is the difference between incorporating federally and provincially?
You can do business in all provinces and territories if you form a federal corporation. If you incorporate provincially, you can only do business in that province.
Can a Quebec corporation do business in Ontario?
Because of a specific arrangement between Quebec and Ontario, if you start a firm in Quebec, you won’t require an extra-provincial license to do
business in Ontario, and vice versa.
What is NEQ number?
The Quebec Enterprise Number (NEQ) is a ten-digit identification number given to companies upon registration. To comply with Quebec company registration regulations, corporations, partnerships, non-profit corporations, trusts, and other entities must get a NEQ.
How long does a Quebec corporation registration take?
Registering a corporation in Quebec, Canada, can take as little as two business days, provided your identification documents are validated immediately. The first step is to select a name for your business and reserve it with the Registraire “Registrar”. Then, we will submit the articles of incorporation, the initial declaration, and the supporting documents. SFM is here to simplify the process and make sure everything is handled as swiftly as possible.
Can you be the director or officer of a Quebec corporation as a non-resident?
Absolutely, provided you register your corporation under the QBCA. While both federal and Quebec corporations hold shareholder meetings, a Quebec-based one can have a single director who also acts as the sole officer, and this person does not have to be a Canadian resident.
How does taxation work for non-resident corporations in Quebec?
In Canada, both the federal and provincial governments collect personal and corporate income taxes. For non-residents, corporate Canadian tax only applies to their income from Canadian sources. Personal income tax is based on residency, and you should expect to pay income tax to the relevant authority in your country of residence. For Canadian residents, the rates vary based on income tax brackets, sectors of activity, and the type of corporation.
Can a Quebec corporation own property in other Canadian provinces?
Just like any Canadian corporation, a Quebec corporation can purchase and own property in other Canadian provinces. That being said, it’s important to note that each province is governed by its own set of rules and regulations on property ownership. The only way to make sure your company may purchase property in the province of your choice is to consult with a legal advisor. In some cases, you may need to apply for a permit or licence before the purchase can be completed.
Do I really need the help of an expert to incorporate a business in Quebec?
While you are under no obligation to delegate your Quebec incorporation registration, the precaution is highly recommended. From selecting the ideal entity and jurisdiction to handling the administrative side of the process and even running your Quebec business, having SFM Corporate Services as your dedicated expert at your side will help you save time, avoid mistakes, and make sure your company continues to run smoothly over time as well to comply with local regulations in total transparency.
