Business corporation CBCACanada (federal)
What it takes to form, own and run a private limited company in Canada (federal), and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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Shares issued by a corporation are non-assessable and the holders are not liable to the corporation or to its creditors in respect thereof.
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One or more individuals or bodies corporate may incorporate a corporation by signing articles of incorporation
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Every incorporated business must have a registered office address and a board of directors.
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An incorporator shall send to the Director articles of incorporation and the documents required by sections 19 and 106.
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Online It will cost $200 and will take 1 day. Add $100 for express service in 4 hours.
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The basic rate of Part I tax is 38% of your taxable income, 28% after the federal tax abatement.
Form it
Who registers it
- Registry
- Formed without visiting
- Yes
- Formed online
- Yes
What it takes to form
- A notary
- Not required
- A resident director
- Required
- Paying up the capital
- A share is not issued until its consideration is fully paid (CBCA s 24(3)); no minimum capital found on pages read.
Own it
Who may own and run it
- Directors
- At least 1 · one must live there · individuals only
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Every incorporated business must have a registered office address and a board of directors.
- Shareholders
- At least 1 · a company may be one
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One or more individuals or bodies corporate may incorporate a corporation by signing articles of incorporation
- Members
- At least 1 · one person may form it alone
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One or more individuals or bodies corporate may incorporate a corporation by signing articles of incorporation
- A local company secretary
- Not required
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the directors may designate the offices of the corporation, appoint as officers persons of full capacity, specify their duties and delegate to them powers to manage the business and affairs of the corporation
- A local registered agent
- Not required
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A corporation shall at all times have a registered office in the province in Canada specified in its articles.
Each year, at the registry
- Annual registry fee
- CAD 12 (about €7.61)
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Business corporations Online It will cost $12 and will take 1 day. How to file: File your annual return
- Accounts on the public record
- Small exempt
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Financial statements and proxy circulars are public documents
- Audit for a small company
- Not required
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The shareholders of a corporation that is not a distributing corporation may resolve not to appoint an auditor.
- Audit
- A non-distributing corporation's shareholders may resolve not to appoint an auditor, if all shareholders consent; valid until the next annual meeting.
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The shareholders of a corporation that is not a distributing corporation may resolve not to appoint an auditor.
Important dates
When each obligation falls due, as the authority states it.
- File information on individuals with significant control when incorporating
- Not in our records
With Corporations Canada
Not stated on ised-isde.canada.ca/site/corporations-canada/en/business-corporations/how-incorporate-business when checked
- First annual meeting of shareholders
- 18 months after incorporation
CBCA s 133(1)(a): not later than eighteen months after the corporation comes into existence.
- First annual return
- Each year, on the anniversary of incorporation
With Corporations Canada
Not filed for the year of incorporation; first due within the 60 days following the first anniversary of incorporation. Cannot be filed before the anniversary date.
- Annual return to Corporations Canada
- Each year, on the anniversary of incorporation
With Corporations Canada
Within the 60 days following the anniversary date (incorporation, amalgamation or continuance). Filing earlier is not accepted.
- Annual meeting of shareholders
- 6 months after the end of the accounting period
CBCA s 133(1)(b): not later than fifteen months after the last annual meeting and no later than six months after the end of the preceding financial year.
- File ISC information with the annual return
- Each year, on the anniversary of incorporation
With Corporations Canada
Filed at the same time as the annual return, within 60 days of the anniversary date; also within 15 days of any change to the ISC register.
- Annual return fee, $12 online
- Each year, on the anniversary of incorporation
With Corporations Canada
Paid with the annual return.
- Notice of change among directors
- 15 days after change of officers
With Corporations Canada
CBCA s 113(1): within fifteen days after a change among directors.
- Notice of change of registered office address
- 15 days after change of registered office
With Corporations Canada
CBCA s 19(4): within fifteen days of any change of address of its registered office.
- File a change to the ISC register
- 15 days after change of beneficial owners
With Corporations Canada
Within 15 days of any change to the ISC register.
What is public
- Directors
- Public
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Some of the ISC information will be made available to the public.
- Beneficial owners
- Public
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Some of the ISC information will be made available to the public.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies · 9–15%+3 regimes
Federal Part I tax: basic rate 38% of taxable income, 28% after the 10% federal abatement for income earned in a province, 15% net after the general tax reduction; 9% net for a Canadian-controlled private corporation on income eligible for the small business deduction. Provinces and territories add their own lower and higher rates.
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The basic rate of Part I tax is 38% of your taxable income, 28% after the federal tax abatement.
Special regimes that may apply
- Deduction for taxable dividends received by a corporation resident in Canada holding · 100% exempt
Corporations receiving a taxable dividend from a taxable Canadian corporation, or from a corporation resident in Canada that they control Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)), s. 112(1) - Deduction in respect of dividend received from foreign affiliate holding
Corporations resident in Canada receiving a dividend on a share of the capital stock of a foreign affiliate Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)), s. 113(1) - Exemption for income from international shipping other · 100% exempt
Non-resident persons earning income in Canada from international shipping or from operating aircraft in international traffic, where their country of residence grants substantially similar relief to Canadian residents Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)), s. 81(1)(c)
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Canada
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Articles of dissolution (no property or liabilities, approved by special resolution) or certificate of intent to dissolve followed by liquidation and dissolution.
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If the corporation has shareholders but no property or liabilities, shareholders can approve the dissolution by special resolution
- Statutory fee
- Free
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Dissolve a corporation Business corporations Online It is free and will take 1 day.
Every business in Canada (federal)
GST
- The tax
- GST/HST (goods and services tax, harmonized with provincial tax in participating provinces)
- Standard rate
- 5%
The federal GST is 5%. HST replaces it at 13% in Ontario, 14% in Nova Scotia and 15% in New Brunswick, Newfoundland and Labrador and Prince Edward Island; Quebec charges the 5% GST plus QST of 9.975%, and other provinces charge the 5% GST plus their own retail sales tax.
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GST/HST and PST rates Province GST and HST PST Alberta 5% 0% British Columbia 5% 7% Manitoba 5% 7% New Brunswick 15% N/A Newfoundland and Labrador 15% N/A Northwest Territories 5% 0% Nova Scotia 14% N/A
- Other rates
- 0% Zero-rated supplies, such as basic groceries
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A zero-rated supply has a 0% GST/HST rate throughout all of Canada. For example, basic groceries are taxable at the rate of zero (0% GST/HST) in every province and territory.
- Registration threshold
- CAD 30,000 · about €19,013
total revenues from taxable supplies in Canada, including zero-rated supplies; a single calendar quarter or four consecutive calendar quarters
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You do not exceed the $30,000 threshold Footnote 1 over four consecutive calendar quarters.
- Voluntary registration
- Yes
A small supplier may choose to register voluntarily if it makes taxable sales, leases or other supplies in Canada.
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You may choose to register voluntarily if you make taxable sales, leases, or other supplies in Canada.
- A foreign company
- The same threshold applies; no local representative required
A non-resident carrying on business in Canada registers under the normal regime only if it makes taxable supplies in Canada and is not a small supplier, so the $30,000 threshold applies to it; a non-resident that does not carry on business in Canada may still have to register under the simplified regime. No representative is required, but a registrant without a permanent establishment must generally give the CRA a security deposit.
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Non-residents who carry on business in Canada must register for the GST/HST under the normal GST/HST regime if they make taxable supplies in Canada and are not small suppliers.
- Returns filed
- Depends on the business
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Assigned and optional reporting periods Annual taxable supplies threshold amounts Assigned reporting period Optional reporting periods $1,500,000 or less Annual Monthly, quarterly More than $1,500,000 up to $6,000,000 Quarterly Monthly More than $6,000,000 Monthly Nil
- Tax authority
- Registration page read 2026-10-22
Payment and banking services
3 services name Canada on their own list: Paysera, Airwallex, Stripe. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Business corporation (CBCA)
- ISO 20275 code
- UDLASecondary GLEIF, Entity Legal Forms code list