CIBC Aventura® Visa* Card for Business Plus
TD® Aeroplan® Visa* Business Card
Business Platinum Card from American Express
Canadians now have the option to quickly, easily and conveniently do business registration online. The Canadian government has taken a step in the right direction by allowing entrepreneurs to take advantage of this service which will allow them to get up and running without any hassle.
This new system is not only user-friendly, but it also offers a number of benefits that weren’t available before. From saving time and money on paperwork to being able to keep track of essential information such as legal documents and contact details all in one place, doing business registration online is definitely the way to go.
What Is Business Registration And Who Needs It?
In Canada, business registration is a process of registering with the government to operate as a company legally. There are online registrations provided by the Canadian government which includes having to register for taxes and other legal requirements, such as obtaining permits or licenses.
Companies that are eligible for business registration must meet certain criteria depending on the province they’re located in. Generally speaking, these include: having an active business plan; having sufficient capital; meeting any necessary licensing requirements; and being able to prove adequate liability insurance coverage.
It’s important to note that each province has its own set of requirements and regulations, so it’s important to check with the local government before starting the process.
Advantages of Business Registration Online
Business registration online has many advantages. For starters, it allows business owners to quickly and easily do business registration without having to go through lengthy paperwork processes. It gives them an official BN (business number) that they can use.
It also provides a secure way for business owner to store their documents and information since all of the data is stored in an encrypted database. Finally, doing business registration online can save money over traditional methods because it eliminates the need for expensive physical paperwork costs.
In addition, doing business registration online often allows businesses to take advantage of special incentives or discounts that may not be available otherwise. This includes things like reduced tax rates or access to certain government programs that could help businesses reduce operational costs or increase revenues. Furthermore, doing business registration online can also help businesses save time by eliminating the need to wait in line at government offices or fill out long forms.
Prepare For Business Registration Online In Canada
As mentioned earlier, there are several criteria that must be met in order to do business registration in Canada. Before you even start the process of business registration, it is important that you understand the basics and make sure that all requirements are fulfilled before you do business registration online.
You need to choose what kind of business structure you are going to use. These could be:
- Sole proprietorship: This is a business owned and operated by one person.
- Partnership: Or sometimes called limited liability partnership is a business owned and operated by two or more limited partner who share in the profits, losses, assets and liabilities of the company.
- Corporation: This type of legal entity offers a business owner a protection from personal liability but also comes with its own set of rules and regulations that must be followed to remain compliant with corporate law in Canada.
Most eCommerce businesses in Canada are underwent business registration as a corporation, while small businesses may opt to be sole proprietorships or partnerships.
Once you have chosen the structure of your business, you need to decide which level is most appropriate for your business. This can include provincial or federal business registration, depending on the type of business and where it will be located.
Lastly, you need a business name. You can choose a descriptive business name for your business, or you can use an invented business name. It is important to make sure the business name is not already taken by another company in order to avoid confusion and potential legal problems down the road.=
After all of this has been done, you or your representative are ready to start the process of doing business registration online in Canada.
How To Register Your Business Online?
The process of doing business registration online in Canada is relatively simple and can be done in a few steps. Whether you’re a business owner or a third party requester, the first step is to create an account with the Canadian government’s e-registration portal, allowing you to access all the necessary forms that must be filled out for business registration.
Once logged into the portal, you will need to fill out all required information related to your business, such as its business name, address, type of business owner structure and contact details. You will also have to provide proof of your identities, such as a government-issued ID or passport.
After submitting all information required by the government site, you should receive confirmation within 24 hours that your business registration has been successful.
Best Business Credit Cards In Canada 2023
Doing business registration online in Canada has its perks, especially when it comes to business credit cards. Today, many companies offer various benefits and rewards to entice customers to do business registration online. Here are some of the best business credit cards in Canada that offer great perks and benefits.
- CIBC Aventura® Visa* Card for Business Plus: Best Overall
- TD Aeroplan Visa Business Card: Most Affordable
- Business Platinum Card from American Express: Best for Travel
- Scotia Momentum for Business Visa Card: Most Flexible
- BMO® AIR MILES®† No-Fee Business® Mastercard®*: Best for Air Miles
Best Business Credit Cards In Canada November 2023
We reviewed the top business credit cards in Canada to help you choose the best one for your business. Whether you’re looking for rewards, travel perks, or flexibility, there are plenty of options available. Here’s our in-depth look at the best business credit cards in Canada.
CIBC Aventura® Visa* Card for Business Plus
When it comes to business credit cards in Canada, the CIBC Aventura® Visa* Card for Business Plus offers a high return on eligible purchases with up to 1.5 Aventura Points per dollar spent.
The card also provides 20,000 welcome bonus points after spending $1,000 within the first three months of account opening – worth at least $250 toward travel when redeemed through CIBC Rewards. In addition, this card provides standard carrier insurance and car rental insurance, as well as flexible rewards that can be used for travel benefits.
TD Aeroplan Visa Business Card
The TD Aeroplan Visa Business Card is an excellent choice for small business owners looking to take advantage of low-interest rates on their purchases.
With a purchase interest rate of 14.99%, the card offers one of the lowest rates in Canada, making it ideal for businesses that need to make frequent purchases and want to save money on interest payments. The card also comes with a range of other benefits, such as car rental discounts and travel insurance, making it an even more attractive option for a Canadian business owner like you.
Business Platinum Card from American Express
For business travellers, an airport lounge can be a lifesaver. With the Business Platinum Card from American Express, you’ll get access to more than 1,200 airport lounges around the world. This perk alone makes this card worth considering if you travel frequently for business.
Additionally, other perks include bonus points and an elite status upgrade with select airlines – which can save you time and money when booking flights or hotels. The only downside is that it requires a very good credit score to qualify for this card, but if you have one, then it could be well worth your while.
Scotia Momentum for Business Visa Card
The Scotia Momentum for Business Visa Card is a great choice if you ‘re in a search for flexibility and generous rewards. With 4% cash back on gas and recurring bill payments, 2% cash back on grocery store purchases, and 1% cash back on all other eligible purchases, you’ll be able to maximize your savings with this card.
For the first three months, a 10% bonus is added to any cash-back rewards you redeem for travel-related expenses. Plus, the annual fee of $99 is waived for the first year. Overall, this card will help businesses maximize their savings and make the most of their spending power.
BMO AIR MILES No-Fee Business Mastercard
In our list, only BMO® AIR MILES®† No-Fee Business® Mastercard® offers a zero annual fee and air miles rewards for every $25 spent. It’s a great choice for a business owner who don’t want to pay an annual fee but still get rewarded with air miles.
Car rental discounts can also be beneficial if you’re travelling frequently on business trips. Although the reward is limited to air miles, it’s still one of the best cards in this category available in Canada today.
By doing business registration online, you will be able to gain access to the best business credit cards in Canada. These credit cards offer a variety of benefits, such as rewards for shopping and travel expenses, cash back on purchases and low-interest rates.
The best business credit cards also come with flexible repayment options to help you manage your finances more efficiently. With all these advantages, it makes sense to sign up for one of the best business credit cards in Canada today.
Frequently Asked Questions (FAQs)
To do business registration online in Canada, you must first decide which type of registration is best for your company. You can choose between business registration options, such as a sole proprietorship, partnership, or corporation.
Once you have decided on the type of business registration, you will need to complete an application form and report it to the appropriate government office. Depending on the province or territory where your business is based, this may be done through a local service center or directly with Service Canada.
Additionally, some provinces require businesses to obtain additional permits and licenses that may be required before starting operations.
The cost of business registration in Canada will depend on the type of registration and the province or territory where your business is based. Generally, it costs around $200 to incorporate a federal corporation, while doing business registration as a sole proprietorship or partnership is typically free. Additionally, some provinces require additional fees for filing documents and obtaining permits or licenses.
When doing business registration online in Canada, even for a general partner or limited partner; you will be required to provide basic information such as your name, contact details and address. Depending on the type of business registration, you may also need to provide details about your business structure, including the names and addresses of all partners.
Additionally, other provinces require additional documents, such as a copy of your articles of incorporation or partnership agreement.
The time it takes for a business registration online in Canada will depend on the type of online registration and the province or territory where you are located. Generally, doing business registration as a sole proprietorship can take anywhere from 1-3 days, while incorporating a federal corporation can take up to 3 weeks, depending on how long it takes to file the necessary documents.
Additionally, other provinces may require additional processing time to obtain permits or licenses before your business can start operatin, especially if you’re a third-party requester.
The main perk of doing business registration online in Canada is the convenience and speed at which it can be completed. Plus, you will be eligible to get business credit cards and other financial services that may be beneficial for your business.
Additionally, doing business registration online will ensure that you remain compliant with the laws and regulations of your province or territory.
Having a business credit card can be beneficial for your company as it allows you to make purchases and manage cash flow more easily. A business credit card also provides additional benefits such as rewards programs, discounts on select products or services, access to exclusive events and the ability to track spending across multiple categories.
Additionally, having a business credit card is important for building a good financial history which will come in handy when applying for loans or other forms of financing.
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- Aventura Visa Card for Business Plus | CIBC Business Banking. www.cibc.com. Accessed January 5, 2023. https://www.cibc.com/en/business/credit-cards/aventura-plus-visa.html
- TD Aeroplan Visa Business Credit Card | TD Canada Trust. www.td.com. Accessed January 5, 2023. https://www.td.com/ca/en/business-banking/small-business/credit-cards/aeroplan-visa-business-card/
- BMO AIR MILES No-Fee Business Mastercard – BMO. www.bmo.com. Accessed January 5, 2023. https://www.bmo.com/main/business/credit-cards/bmo-airmiles-no-fee-business-mastercard/
Business Structure: Which One is Right for You? sbs-spe.feddevontario.canada.ca. Accessed January 5, 2023. https://sbs-spe.feddevontario.canada.ca/en/business-structure-which-one-right-you