{"id":4312,"date":"2020-06-17T16:44:03","date_gmt":"2020-06-17T16:44:03","guid":{"rendered":"https:\/\/ownrblog-preprod.go-vip.net\/?p=4312"},"modified":"2023-12-07T13:34:31","modified_gmt":"2023-12-07T13:34:31","slug":"why-ownr-to-incorporate-your-business","status":"publish","type":"post","link":"https:\/\/www.ownr.co\/blog\/why-ownr-to-incorporate-your-business\/","title":{"rendered":"Why Ownr Is the Best Option to Incorporate Your Business in Ontario"},"content":{"rendered":"<p>Incorporating your business is not a decision you make lightly. The investment of time and money means you\u2019re serious as an entrepreneur. There are different options to incorporate.\u00a0 Regardless of which option you choose, you\u2019ll end up with the same result, which is a fully incorporated business. What makes the real difference is how you get there, and that\u2019s why incorporating with Ownr becomes valuable.<\/p>\r\n<p>Traditionally there are two main ways to incorporate your business &#8211; incorporating by yourself directly with the government, which is very time-consuming (not to mention the errors you might make), or incorporating through a lawyer, which can be excessively costly.\u00a0 Finally, <a href="\&quot;https:\/\/www.ownr.co\/incorporation\&quot;"><strong>Ownr<\/strong> <\/a>filled the gap by reducing both the cost and the effort while delivering the same (or even better) end result.\u00a0<\/p>\r\n<p>If you incorporate the business yourself, you will have to do research from various sources to ensure you\u2019ve fully informed on <a href="\&quot;https:\/\/www.ownr.co\/blog\/a-guide-what-to-consider-when-incorporating-your-business\/\&quot;"><strong>incorporation<\/strong><\/a>, as well the complicated legal jargon in the incorporation documents.\u00a0<\/p>\r\n<p>That\u2019s why many people have opted to incorporate through a lawyer to make sure they incorporate correctly with less effort. But lawyers don\u2019t come cheap. As a result, many entrepreneurs have shied away from incorporation, even though that may benefit them more in the long run.\u00a0<\/p>\r\n<p>Ownr offers the best of both worlds &#8211; quick, easy and affordable incorporation process. All the information you need is in one place, designed in the most human-friendly way and in plain English language, which means no research is needed.\u00a0 The cost is a fraction of the lawyer\u2019s fee, with added benefits.<\/p>\r\n<h2>Comparison of cost and effort of incorporation<\/h2>\r\n<p>We listed key information in terms of your cost and effort for each of the options.<\/p>\r\n<h4>1. Cost and effort of incorporating by yourself<\/h4>\r\n<p><strong>Estimated Total Cost: <\/strong>$383-$618.5 for Ontario provincial incorporation ($283 &#8211; $508.5 for federal incorporation. Cost includes:<\/p>\r\n<ul>\r\n<li>$8-$26 for pre-search of business names\u00a0<\/li>\r\n<li>$25-$82.5 for mandatory <strong>NUANS search<\/strong> (the official business name search within the government database)<\/li>\r\n<li>$300-$360 for Ontario provincial registration ($200-$250 for federal incorporation)\u00a0<\/li>\r\n<li>$50-$150 for a mandatory Minute Book (the government does not provide the service; you need to get it from a lawyer or an online provider)<\/li>\r\n<\/ul>\r\n<p><strong>Effort:<\/strong><\/p>\r\n<ul>\r\n<li>Conduct research on whether incorporation is the right type for you, and requirements of incorporation, along with understanding legal jargon and ensuring you\u2019ve collected all the right documents.\u00a0<\/li>\r\n<li>Conduct a pre-search of business names. It\u2019s not mandatory, but it\u2019s smarter to do before getting a NUANS search.\u00a0<\/li>\r\n<li>Conduct an official NUANS search via a third party platform.\u00a0\u00a0<\/li>\r\n<li>Fill out a nine-page PDF document called <strong><a href="\&quot;https:\/\/www.ownr.co\/blog\/learn-about-articles-of-incorporation\/\&quot;">Articles of Incorporation<\/a> <\/strong>with your corporate provisions and shareholder information (mostly blank forms with no instruction which is why research is necessary).\u00a0<\/li>\r\n<li>Write a cover letter with your name, return address and telephone number.<\/li>\r\n<li>File application with the three items above and any supporting documents, such as a letter of consent, if needed.<\/li>\r\n<li>Source a third party provider for the minute book, which is your corporate records (not provided by the government but is mandatory).<\/li>\r\n<\/ul>\r\n<h4>2. Cost and effort of incorporating with a lawyer<\/h4>\r\n<p><strong>Estimated Total Cost:<\/strong> $1,500 or more plus HST. Cost includes:<\/p>\r\n<ul>\r\n<li>Legal advice<\/li>\r\n<li>Customized incorporation documents such as Articles of Incorporation<\/li>\r\n<li>Legal agreements such as contracts or shareholder agreements and business updates<\/li>\r\n<li>Separate cost for the Minute Book and ongoing maintenance<\/li>\r\n<\/ul>\r\n<p><strong>Effort:<\/strong><\/p>\r\n<ul>\r\n<li>Lawyers will do the majority of the work. There will be minimal effort on your end. Keep in mind, you will be beholden to the lawyer&#8217;s pace of work as they will be responsible for filing on your behalf.<\/li>\r\n<\/ul>\r\n\r\n<h4>3. Cost and effort of incorporating with Ownr<\/h4>\r\n<p><strong>Estimated Total Cost: <\/strong>$499 plus applicable taxes for federal incorporation, $599 for provincial. Get a $300 refund if you open an RBC business bank account after incorporating with Ownr. Cost includes:<\/p>\r\n<ul>\r\n<li>Up to 30 free name searches<\/li>\r\n<li>NUANS report<\/li>\r\n<li>Articles of Incorporation<\/li>\r\n<li>Digital Minute Book<\/li>\r\n<\/ul>\r\n<p><strong>Effort:<\/strong><\/p>\r\n<ul>\r\n<li>Sign up for a free Ownr account<\/li>\r\n<li>Follow simple, step-by-step instructions for the following:\r\n<ul>\r\n<li>Business name search<\/li>\r\n<li>Receive your NUANS report<\/li>\r\n<li>Fill out your business details (with tips and explainers for all legal terms)<\/li>\r\n<li>Review your report and submit your incorporation<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n\r\n<h2>Incorporate your business with Ownr<\/h2>\r\n<p>Incorporating your business is a significant undertaking. But when you weigh the cost with the effort and support that Ownr offers, we believe we provide the most value of any other option. If you\u2019re ready to incorporate your business, do it with Ownr.\u00a0<\/p>\r\n<p>Learn more about <a href="\&quot;https:\/\/www.ownr.co\/incorporation\&quot;"><strong>incorporating your business with Ownr<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Find out what&#8217;s best for your business by comparing the cost and effort of incorporating your business with Ownr vs. a lawyer or through the government. <\/p>\n","protected":false},"author":5,"featured_media":4434,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[979],"tags":[],"class_list":["post-4312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-incorporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Ownr Is the Best Option to Incorporate Your Business in Ontario | Ownr Blog<\/title>\n<meta name=\"description\" content=\"Find out what&#039;s best for your business by comparing 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