What are the first steps to take after incorporating a business in Canada?

After incorporation, you should register for a business number, open a corporate bank account, set up accounting systems, and ensure compliance with federal and provincial regulations.

Do I need to register for a GST/HST number after incorporating in Canada?

Yes, if your business expects to make over $30,000 in revenue annually, you must register for a GST/HST number with the Canada Revenue Agency.

How do I set up a corporate bank account after incorporating in Canada?

You will need your Articles of Incorporation, business number, personal identification, and possibly a corporate resolution to open a bank account in the company’s name.

What accounting systems should I implement after incorporating a Canadian business?

Choose accounting software or hire an accountant to track income, expenses, payroll, and taxes. This helps ensure accurate financial reporting and compliance.

Do I need corporate insurance after incorporating in Canada?

Yes, obtaining appropriate insurance such as general liability, professional liability, and property insurance helps protect your business from risks and legal claims.

What is the importance of corporate bylaws after incorporation?

Corporate bylaws outline internal governance, including directors’ duties, shareholder meetings, and decision-making processes. They help maintain legal compliance and smooth operations.

Do I need to issue shares after incorporating my business in Canada?

Yes. Corporations issue shares to owners or shareholders according to the Articles of Incorporation. This establishes ownership structure and rights.

How do I maintain corporate compliance in Canada after incorporation?

File annual returns, keep corporate records updated, maintain a registered office, and follow federal and provincial regulations to stay compliant.

Do I need a business license after incorporating in Canada?

Licensing requirements depend on your industry and municipality. Check local, provincial, and federal regulations to ensure you have all necessary permits.

What should I do to prepare for taxes after incorporating a business in Canada?

Set up proper bookkeeping, understand corporate tax obligations, register for GST/HST if required, and consult an accountant to plan for income and payroll taxes.

How do I keep corporate records organized after incorporation?

Maintain a minute book with all important documents, including Articles of Incorporation, shareholder agreements, resolutions, financial statements, and annual filings.

Can I hire employees immediately after incorporating my business in Canada?

Yes, but you must register for a payroll account with the CRA, deduct and remit source deductions, and comply with employment standards and workplace safety regulations.

What is the easiest way for new Canadian business owners to handle post-incorporation tasks?

Using a service like Launch a Business can guide you through registration, compliance, banking, insurance, and accounting setup to simplify post-incorporation steps.

How do I ensure my Canadian corporation remains in good standing after incorporation?

Regularly file annual returns, keep corporate information up to date, maintain proper accounting, and comply with federal and provincial requirements to stay in good standing.

What to Do After Incorporating Your Business in Canada

Natalie Paquette
Nov 26
3 min read

You’ve done it—you’ve officially incorporated your business in Canada! That’s a big milestone and an exciting step toward building something long-term. But incorporation isn’t the final step; it’s the beginning of a new phase where you’ll need to set up, organize, and maintain your corporation properly.

Here’s a practical guide on what to do after you incorporate to make sure your new business stays compliant, organized, and ready for growth.

1. Organize Your Corporate Records

After you receive your Articles of Incorporation, your next task is to create your corporate minute book—a binder (physical or digital) that holds all of your company’s key documents.

Your minute book should include:

Articles of Incorporation
Corporate by-laws
Share structure and share certificates
Director and officer information
Meeting minutes and resolutions
Shareholder register

Keeping your records organized from day one makes future updates, legal filings, and ownership changes much easier.

2. Get your Business Number (BN)

Your Business Number is issued by the Canada Revenue Agency (CRA) when your corporation is set up and acts as your company’s main identifier for taxes and other federal programs.

If you incorporated federally, you should have received this with your Articles of Incorporation. If you incorporated provincially (such as in Ontario), it's sent separately, sometimes by the Province and sometimes by the CRA directly.

Your BN is required for things like:

Filing corporate income tax
Setting up payroll accounts
Registering for HST/GST
Import/export accounts

If you don't know your BN, you can try contacting the CRA directly, or Launch a Business can help find this for you.

3. Register for Provincial Accounts or Licences

Depending on where you operate and what your business does, you may need to register for provincial accounts, permits and licences such as:

Workplace safety insurance (e.g., WSIB in Ontario)
Employer health tax
Local business permits or professional licences

Every province has its own requirements, so check with your local registry to ensure you’re fully compliant.

4. Set Up Your Corporate Bank Account

Open a dedicated corporate bank account using your Articles of Incorporation and Business Number.

Keeping your business and personal finances separate is essential for accurate bookkeeping, tax reporting, and protecting your limited liability.

Most banks will require:

Articles of Incorporation
Business Number
Photo ID for directors or signing officers
A corporate profile or corporate record showing directors/officers

5. Set Up Accounting and Bookkeeping

Now’s the time to get your accounting system in order. Whether you use accounting software or work with a bookkeeper, accurate records will help you:

Track income and expenses
File corporate tax returns on time
Distribute dividends correctly
Stay on top of HST/GST filings

Good bookkeeping practices keep your corporation compliant and make it much easier to manage growth.

6. Maintain Annual Requirements

Every corporation in Canada—federal or provincial—must meet ongoing obligations such as:

Filing annual returns
Keeping corporate information up to date (e.g., directors, addresses, share structure)
Holding annual meetings of directors and shareholders

Failing to meet these requirements can cause your corporation to lose its active status or even be dissolved by the government.

7. Protect Your Brand and Business

If your corporation operates under a business name different from its legal name, register that name as a trade name (operating name) in your province.

You may also want to secure:

A domain name and business email address
Trademark protection for your logo or brand name
Insurance coverage suited to your industry

These steps help protect your business identity and build credibility.

8. Keep Learning and Growing

Incorporation is just the beginning. Continue building your understanding of corporate compliance, taxes, and growth opportunities. Staying informed will help you get the most out of your corporate structure.

How Launch A Business Can Help

At Launch A Business, we make it simple to take the next steps after incorporation. Whether you need help organizing your corporate records, updating your filings, ordering a Corporate Profile Report or Certificate of Status, or registering additional business names, we’re here to make it easy.

We help new business owners stay compliant, organized, and confident from day one.

Ready to build your corporation the right way?

Contact Launch A Business today and let us help you take care of the important next steps after incorporating your business in Canada.

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