FAQ

FREQUENTLY ASKED QUESTIONS

No, there are no specific ownership requirements for a sole proprietorship. It is owned and operated by a single individual.

No, a sole proprietorship does not have officers or directors. The owner is responsible for all business operations.

In the case of a sole proprietorship, there is typically no formal distinction between a registered office address and a mailing address. The owner's address can serve both purposes.

You can incorporate a business in Ontario with just one shareholder. There is no minimum requirement for the number of shareholders.

Similar to Ontario, you can federally incorporate a business in Canada with just one shareholder. There is no minimum requirement for the number of shareholders.

Yes, you must have at least one director in an Ontario corporation. Officers, such as a President or Secretary, are also typically appointed to manage the daily affairs of the corporation.

Yes, federal corporations in Canada are required to have at least one director and may appoint officers to manage the corporation's daily operations.

No, when registering a business name for a sole proprietorship or partnership, there are no specific requirements for shareholders, officers, or directors since these entities do not have a formal corporate structure.