The Articles of Incorporation has an important role in establishing and governing every type of corporation.
Articles of Incorporation are legal documents that formally create a corporation in Canada. It outline fundamental details and rules governing corporation’s existence and operation.
These documents serve as a corporation’s birth certificate and set foundation for its structure and operation.
Articles of Incorporation provide legal recognition to your business as a separate legal entity, distinct from its owners.
They shield shareholders from personal liability for the corporation’s debts and obligations.
Articles define the ownership structure and the rights and responsibilities of shareholders.
Having proper Articles of Incorporation can enhance your business’s credibility and make it easier to attract investors and partners.
The chosen name of the corporation must be unique and not already in use. It is important to select a name that aligns with business activities.
The address where official documents and notices will be sent. It must be located within the province or territory where the corporation is registered.
This section describes the corporation’s objectives and the types of activities it will engage in. It’s important to be specific and clear about the business’s intentions.
Details about the authorized share structure, such as the number of shares and their classes, need to be outlined. This section specifies who owns how many shares in the corporation.
The names and addresses of the initial directors responsible for managing the corporation must be included. In Canada, corporations must have at least one director.
While not included in the Articles of Incorporation themselves, bylaws are essential governing documents that specify the internal rules and regulations of the corporation.
Choose a Name : Pick a unique and suitable name for your corporation.
Select a Registered Office : Determine the location where official documents will be received.
Define Your Purpose : Clearly outline your business’s objectives.
Decide on Share Structure : Determine the number and types of shares your corporation will issue.
Appoint Directors : Select individuals who will manage the corporation.
File the Documents : Submit your Articles of Incorporation to the appropriate provincial or territorial authority along with any required fees.