STEPS TO INCORPORATION
1. Initial meeting
Upon analysis of your financial situation, a corporate structure that allows you to meet your goals will be established. If an individual is already incorporated, there may also be some potential tax saving strategies that can be put into place.
2. Setting up the legal structure
Our tax lawyers will initiate the appropriate legal procedures to implement the proposed corporate structure. These procedures will take between one (1) and two (2) weeks.
3. Final meeting and signature
All of the necessary documents will be provided to you to finalize your file. In addition, you will receive a detailed guide outlining all the further steps you must take with your bank and/or accountant.
Finally, a follow up will be done with your financial institution to ensure that our instructions were properly followed. We will also provide continued support to your accountant.
4. Opening the bank account
Once a corporation is created, a bank account must be opened in its name.
In order to help separate your personal and professional purchases, it is advisable to obtain a credit card in the name of the corporation.
If you invoice your clients directly for your professional services, all future invoices must be issued in the name of the corporation. For doctors, the RAMQ must be advised that you are now operating under a corporation. Your billing agent can help assist you with this process.
COST OF INCORPORATION
The cost of incorporation varies depending on your family and financial situation. These costs are divided into two categories:
Legal fees: between 2,000$ and 6 000$.
The cost of a minute book;
Incorporation fees paid to the Registraire des entreprises du Québec;
Registration fees with your professional order (if applicable). Some professional orders require administrative fees when a professional incorporates.