What are the legal requirements for incorporating in Canada?

When incorporating a business in Canada, there are several legal requirements that must be met. Firstly, a specific name must be chosen for the corporation, and it must be checked for availability in the appropriate jurisdiction. A minimum of one director who is at least 18 years old and a resident of Canada is required. Shareholder information must be provided, including the number and types of shares to be issued. A registered office address in the jurisdiction where the corporation is incorporated is mandatory, and a minimum of one shareholder is required. Additionally, the corporation must have articles of incorporation, which outline the internal regulations and governance structure. The necessary incorporation documents must be filed with the respective provincial or federal government agency, along with the payment of applicable fees. Compliance with these legal requirements ensures the proper establishment of a corporation in Canada.

This mind map was published on 8 August 2023 and has been viewed 85 times.