What are the methods of Incorporation

Question

What are the methods of Incorporation?

Answer 1

Under the Business Corporations Act, incorporation in Ontario is accomplished by filing signed articles of incorporation, a name search report on the proposed name of the corporation, and the requisite fee. The government office, in turn, issues a certificate of incorporation. Articles of incorporation set out information that is central to the corporation, such as name, registered office, number of directors, restrictions on business, classes of shares and the rights and restrictions of each class, and any restrictions on the transfer of shares. Once the company has been incorporated, by-laws are adopted.

The choice of jurisdiction dictates the filing and registration requirements (e.g., name selections and use, fees, proportion of directors that must be Canadian residents, annual filings). However, a business incorporated in one province or under the federal jurisdiction is free to carry on business throughout Canada and abroad. Certain types of businesses, such as banks, are required to incorporate federally. Once incorporated, a company is bound by the laws of the jurisdiction where incorporation occurred.