How Much Does It Cost to Incorporate in Ontario?

The government cost to incorporate in Ontario is $300, paid to the Ontario Business Registry (OBR) when you file Articles of Incorporation online, and approval is immediate. A numbered company costs exactly that. A named company also needs an Ontario-biased NUANS name report, which you buy from a private provider. After that, Ontario's annual return is free, so most of what you spend on an Ontario corporation goes to professional help, not the government. This guide breaks down every Ontario incorporation fee, the optional and ongoing costs, and what a realistic first year looks like.

Ontario incorporation fees at a glance

The only fee every new Ontario corporation pays is the $300 filing fee. Everything else is either free, optional, or depends on whether you choose a name.

Numbered vs named company: does it change the cost?

Yes, slightly. A numbered company (for example, 1234567 Ontario Inc.) needs no name search, so the government cost of incorporating is just the $300 fee. A named company needs an Ontario-biased or weighted NUANS report to show the name is available. Ontario does not accept a federal-biased NUANS report, and the report must come from a private name search company, which sets its own price.

Many owners start numbered to save time, then trade under a registered business name or switch to a full corporate name later with Articles of Amendment ($150). If you know the name you want, it's usually cheaper to choose it at the start than to amend afterwards. You can order an Ontario NUANS report from us before you file.

What you'll pay beyond government fees

Minute book and corporate records

Every Ontario corporation must keep corporate records: articles, by-laws, director and shareholder resolutions, a securities register and a register of individuals with significant control. You can keep these yourself in a binder or digitally at no cost, or pay a lawyer or incorporation service to prepare the organizational documents. Professionally drafted by-laws and share-issuance resolutions are worth considering if you have more than one shareholder.

Accountant and tax filings

This is usually the largest ongoing cost. A corporation files its own T2 corporate income tax return every year, within six months of its fiscal year-end, and needs financial statements to support it. Accounting fees vary widely with the volume of transactions, payroll and whether you need reviewed statements. Ask for a quote before you incorporate so you can compare it with the tax you expect to save.

CRA registrations

Your corporation needs a business number and, in most cases, an HST account. The CRA lists no fee for registering either one. HST registration is mandatory once taxable revenue goes over $30,000 in a single calendar quarter or over the last four consecutive quarters, and you can register voluntarily before that to claim input tax credits. The HST rate in Ontario is 13%.

Licences and permits

Depending on your industry and municipality you may need business licences, WSIB coverage or sector permits. These are set by the municipality or regulator, not by the corporate registry, so budget for them separately.

Ongoing costs: what an Ontario corporation costs each year

Ontario is one of the cheapest places in Canada to keep a corporation alive. The annual return is $0, and initial returns and notices of change (new directors, new registered office) are also free. Compare that with a federal corporation, which pays $12 online for each annual return, or British Columbia, where the annual report is $43.39.

The real yearly costs are accounting, the T2 return, any bookkeeping software and your own time keeping the minute book current. If you stop filing annual returns, the Director can dissolve the corporation, and reviving it costs $330. That makes the free annual return the cheapest compliance item you have. You can have us file your Ontario annual return if you'd rather not deal with the OBR yourself.

Doing business outside Ontario: extra-provincial costs

An Ontario corporation that carries on business in another province usually has to register there as an extra-provincial corporation. Government fees for that registration vary:

Most provinces also charge an annual fee for extra-provincial registrations, so if you expect to operate in several provinces, compare the total with a federal incorporation.

DIY vs incorporation service vs lawyer

The government fee is the same whichever route you take. What changes is how much of the work you do yourself.

• Do it yourself: the lowest cash cost, essentially $300 plus a NUANS report for a named company. You set up an Ontario.ca Login, an Ontario Business Account and a company key, draft the articles, file in the OBR and then prepare your own by-laws and organizational resolutions. It suits simple, single-owner companies where you're comfortable with corporate paperwork.
• Online incorporation service: a moderate fee on top of the government cost. The service orders the NUANS report, prepares and files the articles, and usually provides the organizational documents. It suits most small businesses that want it done correctly and quickly without paying legal rates.
• Corporate lawyer: the highest cost. Worth it when you have several shareholders, need a shareholders' agreement, are setting up a holding structure or are raising investment, because the share structure and agreements matter more than the filing itself.

See our pricing for what an Ontario incorporation costs with OpenCompany, including the NUANS report and filing.

Ontario vs federal incorporation: cost comparison

Federal looks cheaper at the start, but a federal corporation that operates in Ontario reports to two registries every year, and its annual returns are not free. If your business is mainly in Ontario, an Ontario corporation is usually the simpler and cheaper choice over time. Our federal incorporation guide covers the trade-offs in more detail.

Total first-year cost of an Ontario corporation

For the full filing process, step by step, read our guide to incorporating in Ontario, or start your Ontario incorporation now.