How Expats Can Register For A Business Number?
Canada is regarded as one of the promising nations in terms of ease of doing business. It provides a favourable atmosphere to start and run a business. Importantly, for the expats who want to flourish their business in Canada, the primary need is to have all the requisite legal right to live and work within the nation. Various government-backed programmes assist in speeding the process of startup business in Canada. The primary aim is to have fast track management on qualified immigrants clearance and giving them permanent residence to start a business.
Numerous expats take assistance from the Accounting & Tax Company, a forerunner in services like accounting, tax and payroll management. To start a business as an expatriate, you must be authorized to own and operate a business in Canada. Further, routinely check your immigration status with the department of immigration and citizenship of the country. It is simple and flexible to commence a business, but you necessarily get familiarize with the important terms and conditions:
- Business License
- Employee and environment protection regulations
- Health and safety rules
- Wages and suitable working conditions
The type of business you can select i.e individual, partnership, stock company, etc. You must need to register with the CRA business number.
What is a Business Number and How To Avail It?
The Business Number is a nine-digit identifier number given by CRA (Canada Revenue Agency) to a business to simplify the dealings with public sectors. It is also required to interact with federal, provincial and several municipal governments in Canada. Business enthusiasts take support from the provincial consultant i.e International tax consultants in Toronto. Let’s know the procedure to get a business number:
Getting A Business Number
One will get a Business Number only if you:
- Register for any type of CRA program accounts (like HST/GST, Payroll deductions, Corporation income tax or Import-export)
- Incorporating your business federally
- Register using BRO (Business Registration Online)
- Incorporate or register a business within these provinces; British Columbia, Nova Scotia, Manitoba, Ontario, New Brunswick, Saskatchewan, and Prince Edward Island.
Essential Information Required To Register A Business in Canada
The amount of information required while registering a business depends on the company’s structure. The following relevant details are required:
- The type of business or organisation (Sole proprietorship, partnerships, corporations or any sort of charitable trust)
- Name, occupation of owners and social insurance number (SIN)
- The legal name of the business
- Requisite contact information
- The physical address of the company
- Business records
- Description of the business activity
- Approx sales turnover of the business
Once your business registration process is completed and you get access to your unique Business Number. If you reside nearby Toronto, you can avail services from corporate tax consultants in Toronto. Almost all the enterprises in Canada are required to register in their respective provinces.
