Starting a business is quick and easy. It takes 24 to 48 hours to incorporate if you have all the required documents and information and if your chosen name is available. The legal organization of your corporation is usually complete within 10 days.
First, you must choose the business structure that works best for you depending on what you need and where you want to operate your company:
- A company incorporated under the laws of Québec.
- A company incorporated under the laws of Canada, if you want nation-wide business name protection. In that case, 25% of directors must be resident Canadians or at least one of them must be a resident Canadian.
- A non-resident corporation, such as the Canadian branch of a foreign company. Even though the parent company remains liable for the debts and obligations of the Canadian operation, the latter is subject to Québec laws and regulations, such as those governing permits.
You can expect to pay about $2,500 to incorporate your business, in addition to different fees.
Once you’ve officially incorporated, you can:
- Register your business name with the Registraire des entreprises du Québec and/or Corporations Canada.
- File a notification under the Investment Canada Act.
- Prepare your shareholder agreement and by-laws.
- Obtain all the numbers you need to be fully operational, including your Québec enterprise number (NEQ), employer number, goods and services tax (GST) number, Québec sales tax (QST) number, and source deductions number.