How to Register a Numbered Company in Ontario

How to Register a Numbered Company in Ontario

Here is an interesting research I did and would love to share. Enjoy and if you are in Ontario, here is high fives to your business success.

If you are looking to start a business in Canada, you might well consider Ontario because the Province is acclaimed Canada's richest market because of its huge 13.5 million population and the impressive personal incomes of its populace that makes it the highest earning area in the country. To get your business registered, you may choose between the various options, to go for a corporation. We have outlined how to go about registering the type of corporation referred to as a numbered company in this article.

Procedure for Registering a Company in Ontario

You must recognize first that registering your company in Ontario means that you are creating a corporation that is a legal entity only in Ontario and that is protected only in Ontario under its provincial incorporation and cannot operate nationwide. As a result, your incorporation is governed by the provincial incorporation procedures of Ontario and not the federal one. So, to register a company in Ontario, you must:
1. Decide what you want your company to be named
2. Carry out a name search or skip this step for a numbered company
3. Complete Form 1 (Articles of Incorporation)
4. Complete a cover letter
5. File your incorporation application
6. Wait for your application to be approved.

Types of Companies in Ontario

There are two types of companies registerable in Ontario as follows:
1. Named company
2. Numbered company

A named company as the name implies is one that has a name and is required to end with any of the words "Incorporated, Inc., Ltd., or Corporation". For instance, "Gracias Inc.". A numbered company on the other hand is simply assigned a number as its name and do not need to be identified by a name.
The procedure for registering both companies are essentially the same except for the reservation of name required for named company.

Numbered Company

A numbered company is a type of company registerable in Ontario and consisting of a corporation number, a jurisdiction and a legal ending. These make up the company name and promoters of the company do not need to choose a name. This implies that the name search process is skipped as it is unnecessary. The name of a numbered company comes out something like this: 1256891 Ontario Inc.

Characteristics of a Numbered Company

The numbered company is the preferred choice for a number of reasons:
1. It is cheaper
2. It is faster
3. It is easier to incorporate
All of these characteristics are a consequence of the fact that a name search is not necessary to set up a numbered company and as a result, NUANS Name Reservation Report is dispensed with as well during filing of the Articles of Incorporation.

How to Register a Numbered Company in Ontario

If you are interested in registering a numbered company, you would need to follow the procedure below:
1. Complete the Articles of Incorporation
2. File the completed Articles of Incorporation
3. Wait for your Certificate of Incorporation.
4. Exchange your Articles of Incorporation for your Certificate of Incorporation at the Provincial Incorporation office.

You can complete the entire registration process in person, by mail or electronically. To fill your Articles of Incorporation:
1. Spell out that what you are applying to incorporate is a Numbered company
2. Pick your preferred legal ending such as Inc., Incorporation and so on.
3. Indicate the registered office address of the proposed company
4. Indicate the information of the Director and other Officers

The length of time to complete your incorporation and get your Certificate vary by the method of incorporation you chose.