Question 1

What is a NUANS® Report?

Accepted Answer

NUANS® Reports are used to determine the availability of a corporate or business name. A NUANS® Report is required by the Federal government and most provincial governments to register or incorporate a business.

Question 2

How do I incorporate a business in Ontario?

Accepted Answer

Incorporating in Ontario requires a unique business name, a NUANS® name search (if required), articles of incorporation, and registration with the Ontario Business Registry. Business Canada assists with preparing and filing all documents.

Question 3

How is a Federal (Canada) Corporation different from a provincial one?

Accepted Answer

A Federal Corporation can operate across Canada under the Canada Business Corporations Act, while a provincial corporation is limited to that province. Federal registration also provides broader name protection nationally.

Question 4

What is a Sole Proprietorship and how is it different from a corporation?

Accepted Answer

A Sole Proprietorship is an unincorporated business owned by one individual. It is easy to set up, but the owner is personally liable for all debts and obligations, unlike a corporation, which offers limited liability protection.

Question 5

What is a Professional Corporation and who can form one?

Accepted Answer

A Professional Corporation is designed for licensed professionals such as doctors, lawyers, or accountants. Only individuals holding a relevant professional license can incorporate this type of corporation.

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