Wires Law and Incorporate-Online.ca
Wires Law streamlines the Canadian federal incorporation process online with www.incorporate-online.ca. We use SAAS technology on the back-end to provide a fast and cost effective solution for our clients. Our technology and process makes it easy and affordable to work with a lawyer online to start a businesses the right way. Read more about Wires Law.
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How Do I Incorporate in Canada?
Work online with an experienced startup lawyer to set your business up.
Having trouble figuring out how to incorporate in Canada? Wires Law is a Toronto based business law firm delivering legal services to entrepreneurs and small and medium sized business across Canada. Wires Law was founded on the premise that the delivery of legal services needs to change in order to match the pace and cost expectations with which startups and SME’s operate. Our online solution helps you incorporate, assemble a digital minute book and issue shares to all the initial shareholders.
Read more about Wires Law.
Digital Minute Books
No More Bulky Binders – Access Your Minute Book Online
Maintaining a minute book is required by law for all corporations in Canada. A corporate minute book is a record of the rules and decisions the company’s board of directors and shareholders make. It also contains, among other things, the company’s shareholder and director registers and annual filings. At Wires Law we operate a paperless legal practice, which includes the management of corporate minute books. Traditionally, corporate minutes books were compiled in large binders and stored either at a lawyer’s office or at the corporate headquarters.
No More Trips to Your Lawyer’s Office
Wires Law also leverages digital signatures permitting us to manage your minute book completely virtually. That means, no trips to your lawyer’s office to sign resolutions or update your corporate minutes. You can sign your articles of incorporation, shareholder and director resolutions all online.
Benefits of Incorporating In Canada – Why Incorporate?
There are three main reasons startups incorporate in Canada:
1. Reduce Exposure to Personal Liability
The main reason most founders incorporate is to protect their personal assets against the claims of creditors and lawsuits. Without incorporating sole proprietors and general partners in a partnership can be personally and jointly responsible for the liabilities of a business including loans, accounts payable and legal judgments. In a corporation, however, shareholders are typically not liable for the company’s debts and obligations. With some exceptions, shareholders are usually limited in liability to the amount they have invested in the corporation.
2. Tax Benefits & Tax Planning
The second reason founders incorporate is to take advantage of tax savings. While it is not always tax advantageous to incorporate, the rates of tax applicable to corporations are often lower than most individual tax rates. Speak with a tax advisor about whether incorporating makes sense for you.
3. Raise Money to Finance a Business
The corporation is also the best vehicle for raising money to finance a business. However, given the complexity of securities laws, its best to hire a lawyer to help you issue shares to founders and investors. Keep in mind that as a startup, you cannot head out into the market and issue shares to whomever you desire.
I wanted to ensure clients got off on the right start by incorporating with a lawyer, but realized there was no affordable way to do so online. Traditional firm have high administrative costs and storage fees for old bulky minute book binders. Wires Law now streamlines the incorporation process online. We use complex SAAS technology on the back-end to ensure a fast and cost effective solution for our clients. Our technology and processes makes it easy and affordable to work with a lawyer online to start a businesses the right way.John Wires