Having your own business is exciting and fulfilling. Strategic planning can help you avoid pitfalls and make your business successful. We can help you formulate a business plan to take your business where you want it to go.
Our Professional Accountants are experts in incorporation laws and tax. We have been simplifying the incorporation process for businesses across Canada for many years and we can help you take the next step into growing within your profession.
Why register your business with M7 Group?
CFO Advisory
Save time/avoid errors:
Potential tax savings:
You could save thousands on your taxes
Our aim is to help you succeed in your new business by getting it off to a good start. Our Services in formation of a new business include:
- Prepare an initial business plan to clarify your marketing, management, and financial goals.
- Select and legally register the optimal business structure for your business by evaluating the tax advantages, legal exposure, and other factors of your specific business
- Prepare a cash flow budget to help you identify anticipated financial needs of your business during the start-up period.
- Establish billing and collection procedures to forecast cash flow.
- Establish procedures to monitor and control costs.
- Prepare and file all required licenses and permits.
- Select the right accounting software for your business by evaluating your budget and needs.
- Prepare and file your application for your Federal Business Number.
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Accreditations and Certifications
We uphold the highest standards of integrity to our customers can benefit from an accredited accounting.
Understanding Business Structures: A Quick Overview
One or more individuals who are 18 years of age or older, is not of unsound mind and who is not a bankrupt may form a corporation under the Canada Business Corporations Act (CBCA). Similarly, one or more companies or “bodies corporate” may incorporate a company. These persons are called incorporators. An incorporator (individual or corporation) may form a corporation whose shareholders, officers and directors are other persons, or may serve as the sole director, officer, and shareholder of the company. In addition, an incorporator is also responsible for organizational procedures, such as filing the articles of incorporation and designating the first directors.
Limited liability: potential loss limited to the amount invested in the corporation.
Perpetual existence: corporation continues on after the death of the individual.
Tax advantages: accountants will recommend incorporation once revenues reach a certain point.
Raising capital: the corporate form of business organization easier to raise capital through the sale of shares.
Corporations Canada is the country’s federal corporate regulator. It administers the laws that allow Canadians to create and maintain a corporation under the federal laws governing corporations in Canada. Also, it should be noted that banks and trust companies are incorporated by the Office of the Superintendent of Financial Institutions.
Corporations Canada is responsible for the administration of the following laws:
- Business Corporations Act
- Not-for-profit Corporations Act
- Canada Corporations Act
- Boards of Trade Act
- Canada Cooperatives Act.
Heightened name protection:
Corporations Canada applies very tough tests before granting a company the right to use a particular name. When a company’s name is approved, it’s protected across the country – a status seconds only to trade-mark protection. (Please note that the Province of Quebec does not currently provide data to Nuans.
For your own protection, if you are doing, or intend to do business in the Province of Quebec, you should search the Quebec corporations database at Registraire des entreprises du Québec as well.
Right to carry on business anywhere in Canada:
Federally incorporated companies can carry on business anywhere in Canada, and the CBCA does not set restrictions regarding the province or territory where the head office is located, corporate records are maintained and annual general meetings are held.
Recognition:
Federal incorporation is often considered a sign of distinction, companies incorporated under the CBCA receive global recognition as Canadian companies.
Excellence in Client Service: Corporations Canada offers high quality service: it offers clients an online service that allows you to send documents, pay fees, and receive documents and acknowledgments back from the Director under the CBCA, via the internet.
