Legal Requirements When You Launch a Business
Starting a business in Canada is exciting, but there are legal requirements you can’t ignore. Following the rules from day one keeps you compliant, avoids fines, and protects your business. At Launch a Business Inc., we make it simple to understand and meet all the legal requirements.
1.
Decide Your Business Structure
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Sole Proprietorship, Partnership, or Corporation: Each has different legal obligations.
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Consider Liability and Tax Implications: Your choice affects personal liability and taxes.
For guidance on business structures, see How to Launch a Business in Canada.
4.
Tax Registration
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Register for GST/HST if your business earns over CAD $30,000 annually.
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Consider payroll accounts if you plan to hire employees.
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Keep accurate records for income tax and corporate tax purposes.
Our Launch a Business Checklist can help you stay organized.
2.
Register Your Business
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Name Registration: Register your business name federally or provincially.
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Incorporation: Decide whether federal or provincial incorporation suits your goals.
Need help deciding? Check out Incorporation Options When You Launch a Business.
5.
Ongoing Compliance
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Corporate Filings: Annual returns for corporations.
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Record Keeping: Maintain accurate financial and corporate records.
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Legal Updates: Stay informed about any changes in regulations affecting your business.
3.
Licenses and Permits
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Certain industries require special licenses or permits (e.g., food, health, professional services).
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Check federal, provincial, and municipal regulations to stay compliant.
Ready to Launch Your Business Legally and Safely?
Our team at Launch a Business Inc. can help you handle registration, licensing, permits, and compliance so you can focus on growing your business confidently.