Starting a business in Canada involves a myriad of complex decisions and steps, particularly when it comes to incorporation. Navigating through this process typically involves seeking the costly and time-consuming services of a legal professional. However, a digital platform called Ownr proposes a streamlined and economical alternative to the traditional method.
Ownr simplifies the incorporation process and also aids in managing corporate filings and setting up sole proprietorships. The platform can potentially save business owners up to $1,000 in comparison to fees charged by lawyers for similar services. However, it is important to note that Ownr does not provide legal counsel, so having a clear plan for your corporation’s structure is essential before starting with Ownr.
How Much Does Ownr Cost?
The costs associated with using Ownr are substantially lower than those for hiring a lawyer. Incorporation fees on Ownr range from $399 to $699, depending on the selected services and the province of operation. We’ve partnered with Ownr to help you get 15% off incorporation costs when you use our Ownr referral link, and up to $300 cashback for opening a business bank account with RBC following incorporation.
Where is Ownr Available?
Support-wise, Ownr offers a user-friendly step-by-step guide for the incorporation process and provides templates for various corporate documents and agreements. Available in Alberta, British Columbia, Ontario, and Quebec, Ownr is also planning to extend its services to additional locations.
What Services Does Ownr Provide?
Ownr’s services encompass both the registration of new businesses—whether as a sole proprietorship or a corporation—and the administration of existing corporations. This includes filing with the government, business name searches, company name registration, organizing company documents, and handling CRA business number and GST/HST program account registrations.
The platform also manages ongoing corporate administration and document storage, facilitating tasks like online minute book management, annual filings, and updates to corporate director and officer records.
Registering a sole proprietorship through Ownr is particularly efficient, costing $49 plus tax, and includes unlimited business name searches and necessary business documentation.
Incorporating with Ownr does have its downsides, like the lack of personalized legal advice and the potential complexities of managing a corporate structure without professional guidance. On the other hand, incorporating can offer significant benefits, such as limited liability, potential tax savings, and a more straightforward process for estate planning, given that a corporation survives independently of its owners.
Easily Incorporate a Business in Canada with Ownr
For entrepreneurs considering starting or streamlining their business in Canada, Ownr presents a cost-effective and efficient tool. By minimizing the need for expensive legal services, Ownr allows business owners to maintain more control over the incorporation process. Whether you’re starting fresh or managing an existing company, Ownr equips you with the tools to keep your business compliant and properly documented, paving the way for future growth and stability.
About
Nex CPA is a boutique Canadian digital accounting firm that provides online accounting solutions by combining technology and forward-thinking businesses. Tailored for the modern entrepreneur, we provide an easy, automated and client-focused service so you can focus on working 'on' the business and not 'in' the business.
For more information, please contact us at info@nex.cpa.