Money can be tight for a new business. As an entrepreneur you’re always looking to cut unnecessary costs. This starts on the day you set out to incorporate your business. You’ll see a range of costs and might be tempted to go for the lowest price available. This article will give you a view of the upfront and ongoing costs associated with incorporating. What you’ll find is that the lowest price on day one is probably going to cost you even more in the future. By skipping some of the key legal requirements at the start, you’ll pay even more down the road.
But let’s clarify one thing right from the start: There’s no such thing as a free incorporation. No matter where you live, the government always charges a fee to submit your incorporation documents and reserve a name. So if you see ads for “free” incorporation, there will be plenty of hidden costs once you see the fine print.