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Forming a new corporation in Prince Edward Island, Canada Enterprise42 Canada provides Quick and Easy Prince Edward Island company registration service with the Prince Edward Island registries office. http://bit.ly/rQqVwE Enterprise42 Canada. Empowering people through Entrepreneurship & Technology. Business Entity Formation and Corporate Services for Canada Entrepreneurs, Small and Medium Sized Business Enterprises. Enterprise42 Canada is committed to empowering you, as an owner of a small business with the information and tools you need to make informed decisions, whether that be guiding you through the incorporation process or arming you with the resources you need to keep your business running. Every member of our team is focused on providing the tools and services you need to start and grow your business with confidence. Forming a corporation A corporation is a legal entity that has separate legal existence from its shareholders and directors. It is sometimes also referred to as a limited company. Since it has a separate legal existence from its shareholders and directors, they are generally not personally liable for the debts of the corporation beyond the amount contributed. Although it is the shareholders which own a corporation, it is the directors who manage the day-to-day operations. What are the advantages of incorporating? -
Incorporating limits the liability of corporation shareholders. Generally, a shareholder of a corporation is only liable to the extent of his/her investment in the corporation. The Liability of Directors page contains more information.
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Incorporating promotes continuity of existence. The existence of a corporation is continuing and is not affected by the death or bankruptcy of a shareholder or director.
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Incorporating allows for holding title to real property and entering into contracts.
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There may also be tax advantages to incorporating, but check with your accountant or seek other professional advice to determine what is best for your situation.
Step 1: Conduct Name Search Before you may incorporate a business corporation in Ontario, you must search and reserve a name for that corporation, unless you are incorporating as a number corporation (eg. 101010101 Prince Edward Island Ltd.) Step 2: Complete the Articles of Incorporation Once you have your name search results and reservation number, you may complete and submit the articles of incorporation and other forms required to incorporate. Step 3: Submit the Required Documentation with Payment You can submit the articles of incorporation and the rest of the forms by mail, or in person. Step 4: Receiving Your Certificate of Incorporation Once your request is successfully processed you will receive a Certificate of Incorporation in the mail.