Incorporation & corporate structure

We offer our knowledge and expertise to create the perfect structure for any situation. Proper planning now can help prevent costly problems in the future. That’s why we’ll work with you to determine a corporate structure that suits your situation, goals and needs. Once you’ve found it, we take care of all steps needed to incorporate your business or else refer you to experts who will help you draw up the partnership agreement. Some of the factors to consider when choosing a corporate structure include taxation, risk and liability. Whether you’re looking to have the most favourable tax situation or minimize your liability, we will find the best structure for you.  Some possible structures include:

  • Multi company structure

If your company will generate high profits but requires caution in liability issues, this structure may be right for you. The costs associated with owning two corporations are offset by the risk averted from having one company hold all your assets, while the other pays taxes and remains liable if any conflicts arise.

  • Partnership

One of the main reasons to use any kind of partnership is for income tax planning. In any kind of partnership, profits or losses of the partnership have to be reported by the partners themselves and not by the partnership. This way any losses can be associated with the underlying partners. The types of Partnerships include:

    • General Partnerships

    In a General Partnership, each partner has unlimited liability. These are usually only used when no other structure is possible (such as in law or accounting professions). General Partnerships can be as easy to create as a corporation. Though some general partnerships and all limited and limited liability partnerships require several steps to set up and we can guide you through the whole process.

    • Limited Partnerships

    In a limited partnership, there is a general partner (which is usually a corporation) and one or more limited partners. Unlike the limited partners, the general partner has unlimited liabilities. A limited partner who engages in managing the partnership will lose their limited liability. This feature is convenient for raising money for certain kinds of business ventures.

    • Limited Liability Partnership

    A limited liability partnership is a general partnership where liability, even of the general partner, is limited. If something goes wrong in a LLP, the partnership itself can be sued, and the assets of any particular partner who did something wrong will be at risk but the assets of the other partners will be protected.

Management Structures

Once the legal structure of you’re business is set up, the next step is to decide on a management structure. Using our extensive experience with business start ups we will help you identify a management structure that allows you to:

  • manage unpredictable circumstances
  • align individual and organizational goals
  • develop professional competence among personnel
  • optimize coordination within and between departments

If you are considering any of these structures for your business, we will help you assess the tax implications and any other relevant matters so you can make an informed decision.

Tip

Small Business Grants

The Canadian Government has set aside over 21 billion dollars in 2009 for small businesses to grow the economy and help you to start, expand, and improve your business. General Business Programs: Offer start up and expansion capital for the purchase of equipment, supplies, real estate premises, machinery, technical knowledge, vehicles, computers, website development, office lease, office renovation, and office furnishings. Finance ranges start from $1000 to a maximum of $10 million. Women Programs: Specific financing programs for women in Canada to assist in the start or expansion of a business. Financing up to $100,000.00 available.