• Without federal incorporation, your business may be unable to operate under its chosen name nationwide if a business of the same or similar name exists in another province or territory. 

• Additionally, federally incorporating your business can enhance the perceived credibility and scale of your business in the eyes of investors. 

• Note that at least one of your directors must be a Canadian resident for a federal corporation, whereas there are no residency requirements for directors of B.C. companies.

The first step is identifying who will serve as directors of the company and what share classes are required. Consulting with other business advisors such as tax advisors or accountants is also advised. The final steps before federally incorporating are registering a corporate name and drafting the corporate bylaws that will govern the business.

Once all the required information is gathered, federal incorporations can be processed as quickly as 3 to 5 business days. Finalizing name reservations for federal corporations generally takes 2 to 3 business days longer than provincial incorporations. Numbered companies can be incorporated within 48 business hours.

Before starting the federal incorporation process, you’ll need to gather contact information for all directors and shareholders, including legal name, date of birth, occupation, citizenship status, tax residency, mailing address, email address, phone number, and copies of government-issued photo ID.