Launching a new venture in Canada can be a rewarding opportunity—but there are a few key steps to take before you begin.

Below is a practical checklist to help you get started. If you have any questions along the way, the team at Empire CPA is here to help.

1. Set Up a Canadian Corporation

In most cases, your corporation will be incorporated in the province where you plan to conduct business. However, if you plan to operate in multiple provinces, you can choose a home jurisdiction and register extra-provincially in the others.

• Note for non-residents: Some provinces require at least one Canadian-resident director. It’s important to choose your incorporation jurisdiction carefully. We recommend speaking with us or a legal advisor to determine the best path forward.

2. Register for the Canadian Tax System

When you incorporate, you’ll be issued a Canadian Business Number (BN). You will then have to connect this business number with the necessary tax accounts: 

• Connect your BN your GST/HST account for collecting and remitting sales tax.

• If import/export is required to bring goods in or out of the country, you may want to connect with a customs brokerage firm to assist you in the process.

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• Be aware that some provinces have additional sales tax requirements, which may require separate registration once certain revenue thresholds are met.

3. Set Up a Canadian Bank Account

Next, you will need too open a business account with the bank of your choosing. 

• You will need your incorporation papers to open the account. 
• If non-resident, and you aren’t visiting Canada any time soon, some banks are willing to conduct a set up virtually, but will need to show an acceptable piece of ID and have a virtual meeting with them.

4. Begin Operations

Once your structure and registrations are in place, you’re ready to begin selling your products or services in Canada. Empire CPA can support you at every stage, from setup to compliance and beyond.

Questions?
If you’re considering doing business in Canada or would like help navigating any part of the process, reach out to a member of the Empire CPA team. We’re always here to help.