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There is no legal difference between a distinctive named and a numbered corporation, both companies offer the same liabilities and tax advantages. A “numbered company” is a business corporation that can be incorporated using number without choosing a unique and descriptive name, e.g. 123456 Canada Inc. If you are thinking of developing and growing your business into a recognizable brand, it would be beneficial to have Named corporation.
Why NUANS® Report?
The NUANS® report is a Corporate Name Search that ensures that a proposed corporate name has not already been registered or trademarked, and required by the Federal government when you incorporate. It is valid for 90 days.
A corporate minute book stores all of your corporation’s legal records, including the articles of incorporation, the minutes of shareholders and directors meetings, stock certificates, tax filings, by-laws, and other documents. It is required by law to maintain an updated minute book once you have filed for incorporation, failing can impose a fine.
A printed digital copy or physical binder required to open a business bank account.
Provincial Registration is required when the federal corporation registered in the province where its registered office address is located. Registration is different from incorporation. A corporation may incorporate only once, but it can register to carry on business in any number of jurisdictions.