NewsCase StudiesEvents

The costs of incorporation and operating a corporation in Canada

Also in the news...

Confined establishments in Great Britain

Lists of confined establishments in Great Britain, Jersey and the Isle of Man approved to export or move ungulates to the EU and Northern Ireland.

Republic of Belarus sanctions: guidance

Guidance on the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019

UK-New Zealand Joint Committee ministerial statement

Details of the Joint Committee held as part of the United Kingdom-New Zealand Free Trade Agreement on 8 May 2024.

Tips for Success in the German Market:

Avoiding Pitfalls and Understanding German Consumer Needs

UK-China Intellectual Property Newsletter

At the end of every month we publish a newsletter covering recent intellectual property (IP) developments in China.

The costs of incorporation and operating a corporation in Canada

Back to News

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 ***

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.