Benefits of Incorporation

Incorporating your company is imperative, if you are looking to start a business in Canada. Despite the availability of different business structures, most business owners prefer to register their business as a corporation. Following are some of the benefits of registering a business: these are also known as the Benefits of Incorporation.

• Liability Protection: A corporation is regarded as a distinct entity with its own legal personality in Canada. This implies that the personal assets of the owner will not be affected in the case of any legal action, claim or lawsuit against the company. Moreover, a corporation can enter into independent contracts and agreements with different parties and also maintain its bank account.
• Brand Name Protection: With the growth of digital marketing, safeguarding the brand name has become an essential practice. When a business is incorporated in Ontario, exclusive rights to the brand name within the province are obtained, making it illegal for others to use the same name in Ontario. On the other hand, incorporating a business at the federal level provides protection across Canada. However, to ensure stronger brand protection and safeguards brand’s uniqueness, it is recommended to apply for a trademark. This will restrict others from using similar brand names that may cause likelihood of confusion among consumers.
• Tax Savings: When you start a business, you only pay taxes on the net profit, not on the gross income. Moreover, the tax percentage on business revenue is typically lower than that on salaries and other income sources. This can result in significant tax savings and the amount saved can be reinvested in the business.
• Perpetual Existence: Unlike sole proprietorship the lifespan of the corporation is unlimited. A perpetual existence of a company implies that it can continue to operate even after the death of its owners or shareholders. This makes it easier to transfer ownership, and the corporation can continue to exist even if the original owners or shareholders leave or sell their shares.
• Financing Benefits: Companies that are incorporated usually receive more investment proposals, and financial institutions also consider registered businesses as the safest while lending loans.

How Startup Visa Services team helps

In order to get the incorporation certificate and enjoy all the benefits, it is imperative to follow the registration procedure and fulfill all the legal requirements. The Startup Visa Services team assist the clients of immigration professionals that want to register their business in Canada. We take care of the entire registration process, including preparing the required documents. Our extensive knowledge in this area and exceptional customer service make us a go-to choice for entrepreneurs looking to incorporate their businesses in Canada.

Are you an immigration expert who helps entrepreneurs looking to launch or expand their businesses in Canada? Do you need assistance with writing a business plan, conducting industry & market research, powerpoint preparation, formulating business scaling and intellectual property strategies, and securing government funding, grants and subsidies for your clients? 

Feel free to get in touch with the Startup Visa Services team to learn more about setting up a Canadian corporation and how you can turn your business idea into reality. 

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