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Foreign travel advice Indonesia
FCDO advises against all travel to parts of Indonesia.
Foreign travel advice Romania
Warnings and insurance Still current at: 24 April 2024 Updated: 23 April 2024 Latest update: Information related to drug offences and Romanian music festivals (under 'Laws and cultural differences' subheading on the 'Safety and security' page).
Foreign travel advice The Gambia
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).
Foreign travel advice China
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).
Guidance Living in South Korea
Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.
The costs of incorporation and operating a corporation in Canada
The costs of Incorporation and operating a corporation in Canada could seem intimidating to some entrepreneurs. This is not the case!
The legal costs of starting and operating your business include only very minor costs as follows:
Incorporation (paid only once in a lifetime of your corporation):
- Federal Incorporation - $200.00
- Federal Corporation Name Search (NUANS Report) - $20.00
- Ontario Incorporation - $350.00
- Ontario NUANS Report - $50.00
- Extraprovincial registration - $0 - $300 (please verify with the province of your residency).
Upon incorporation of your business, you will receive Articles of Incorporation and the CRA business number for the company. You will also need your Minutes Book – resolutions, By-Laws, Registries.
Hiring a professional consultant to do the complete package for you should not cost more than $1,500 + the incorporation fees. At CBES, our cost is $1,000 - $1,500.
The costs of maintaining a corporation in good standing include:
Annual update – Federal $20.00 and Ontario – FREE.
Bookkeeping could be done by an entrepreneur in smaller businesses and could cost from $200.00 - $500.00 per month and more.
Corporate Tax Return for a corporation without business operations should cost no more than $1,000 and for a small volume business - $3,000. It can get much more for more complicated businesses.
Bottom line, except for the costs of the initial incorporation, maintaining your business should not cost more than $3,000 - $5,000 per year at the initial stages of your business development.
And you should remember – the costs of maintaining and tax reporting for a comparable size corporation and sole proprietorship would end up almost the same.
*** The costs of maintaining a Canadian corporation for foreign residents would be significantly higher. Please contact us to get a detailed description and price quote ***