Incorporating a Business in Canada
- Shareholders agreements
- Shotgun clauses
- Dividends
- Minority and Majority rights
- Private vs. Public
- Directors and officers of the Corporation
- Sale of Shares and Right of First Refusal
These and many more are the terms and titles taken from a simple shareholders agreement. We will explain and clarify these and many others. We will direct your attention to those, which are relevant for your type of business and will save your time from those, which are not.
At CBES, our experience has proven that in order to get the right answer, the right question is often not asked. Our professional consultants will review and assess your objectives WITH YOU and will provide you with thorough and comprehensive guidance and advice.
- Do you know what type of relationship you will have with your partners?
- How will you make a decision in a 50/50 voting split?
- How will you exit the company if your partner does not want to buy you out?
- How will you ensure that you are paid dividends in return for your investment?
These as well as many other questions must be raised and answered BEFORE you make your next move.
Whether incorporating alone or with partners, whether inviting investors or arranging financing for your projects, you must remember that you are not protected from corporate debts, and every director and officer of a corporation might be personally liable for certain debts and obligations of the corporation.
Forming a Corporation will protect you from some forms of liability, but will impose others on you. Incorporation does not create a complete separation between you and your business, and will not save you from all debts and liabilities. On the contrary – corporation might create and impose additional responsibilities and liabilities on its Directors and Officers.
At CBES our professionals will help you to understand your future liabilities and will guide you through the process of incorporation and structuring your relationships with your partners in the most efficient and safe way for YOU in this important investment.
| Solutions to Help You Organize Your Business Starting a new business, choosing the right type of business entity, properly organizing or changing the existing business structure, and keeping the business up-to-date is as important and essential as developing a new product or service and selling it to the customers. Our mission is to release your time and resources for your business development while we take care of your business administration, legal and statutory compliance, and HR and accounting operations. Let us lead you through the process and assist you to move your business into a new era of corporate organization and administration. |
| Solutions to Help You Organize Your Business Starting a new business, choosing the right type of business entity, properly organizing or changing the existing business structure, and keeping the business up-to-date is as important and essential as developing a new product or service and selling it to the customers. Our mission is to release your time and resources for your business development while we take care of your business administration, legal and statutory compliance, and HR and accounting operations. Let us lead you through the process and assist you to move your business into a new era of corporate organization and administration. |
| Advice, Support, Regulations, and Assistance for Small- and Medium-Sized Businesses At CBES, our team of dedicated and highly trained professionals have backgrounds in every business sector imaginable. Ranging from environmental to corporate law as well as accounting and financial expertise, human resources, and employment standards in Ontario, we know what it takes to help you get your business off the ground and guarantee that your practices are within the compliance standards of this province. We’ll take the time to inspect your company’s current operations and examine all of the aspects of it to help you identify what improvements are necessary and how to effectively implement them for your business. This initial business assessment is completely complimentary and the results of it will depend on the size and current operational standards of your company. |
| Starting a New Business In Ontario Starting a new business from scratch in any location is never easy. You may have a certain vision for your company, but dreaming it up and bringing it to life are two completely different matters. It’s important to know the various steps and legal protocols involved in realizing your vision and CBES can help with that. We provide practical advice and solutions for businesses in Ontario to help them get on their feet and navigate the complex legal infrastructures that are in place in this province. |
| Starting a New Business In Ontario Starting a new business from scratch in any location is never easy. You may have a certain vision for your company, but dreaming it up and bringing it to life are two completely different matters. It’s important to know the various steps and legal protocols involved in realizing your vision and CBES can help with that. We provide practical advice and solutions for businesses in Ontario to help them get on their feet and navigate the complex legal infrastructures that are in place in this province. |
Defining the type of business you want to establish is the first step to success in your industry. There are several different types of business entities to choose from depending on your short or long-term goals, each of which have their own unique set of advantages and disadvantages. These include the following:
Sole Proprietorship
In this scenario, you own and operate your business by yourself. That means the onus is on you and you alone to ensure its success and that you’re in complete legal compliance with the stipulations set out for small- and medium-sized businesses in the province of Ontario. One of the main advantages is that you get to retain 100% of all of the profits. In contrast, your business and personal accounts are one and the same, which means legal and business-related payments will come out of your personal accounts.
Partnership
Whether you choose to enter into a general or limited partnership with one or more other proprietors, we can offer valuable legal and professional advice to make sure you’re always on course. Entering into a professional partnership essentially alleviates you from taking on 100% of the responsibilities involved in running your business and you can split these obligations however you and your partner(s) see fit. Most professional partnerships require drawing up legal contracts to make sure all parties mutually agree on the terms and conditions.
Corporation
Each province in Canada has a different set of legal stipulations when it comes to allowing businesses to incorporate. Basically, what this means is that your business is now its own separate legal entity and while you’re shareholders are still involved to a certain extent, they don’t have the authority to get involved in how you conduct business. It also means that you can apply for federal or municipal government assistance and aren’t personally liable for covering any business expenses.
Our objective is to assist you and provide solutions in the following areas:
- Business administration
- Legal and statutory compliance
- Improve HR, bookkeeping, and accounting operations
CBES is committed to helping small- and medium-sized businesses just like yours establish stringent and detailed company policies that are in complete compliance with the legal stipulations of the province of Ontario while pertaining to your business model. Schedule a meeting with one of our professional advisors to learn more.
Our senior consultant, Evgene (Eugene) Jakubov relies on more than twenty years of experience as a licensed lawyer and more than ten years working growing business providing them with various licensing, compliance and legal support services. For many years, Eugene worked as a legal consultant for medium sized financial services organizations such as credit card issuers, POS distributors and acquirers, and organizations offering unique financing solutions for small and medium businesses.
Being a successful entrepreneur himself, Eugene understands the importance of proper compliance in such industry as MBS. All our legal and governance documents have been prepared by Eugene in a manner that will make their implementation and use by your business as simple and as efficient as possible.
It is this combination of in-depth understanding of the MSB industry from one side and many challenges that businesses face while implementing new compliance regimes from another that position Eugene as one of the leading experts in the field of licensing and compliance for MSB’s in Canada.
info@cbes.ca
North York, Ontario
M3J 2M2