You are considering setting up a new business in Canada, but you cannot afford to lease an office. Business owners in Canada sometimes solve this by using their home address as their business address. The use of home addresses as business addresses is a security issue.
You might even consider no physical address, especially if you run service businesses where customers contact you through email. However, you must have a physical address in Canada to register the company. Let’s discuss what’s required to set up a business in Canada.
Registered Address Services in Canada
Virtual offices are helpful in Canada for businesses that require an address to register in Canada. In many instances, non-resident companies or other non-resident entities must register their addresses when establishing multiple regional branches in Canada. Since new business startup requirements in Canada differ from those in other countries, requests for virtual offices are more common.
Get a Business Plan
A business plan is instrumental in starting a business. Entrepreneurs must identify what problem the company will solve, how it will solve it, and the barriers and other competitors related to solving the problem.
Register Your Business
Canada has a variety of requirements for registering a business, depending on the type of business. Some may require specific licenses or certifications. All will need a business address. Companies in Canada must have a physical business address to receive official mail related to the business.
What is a Registered Office?
A registered office is the official address of a registered company. The document is generally included in public records and is required in many countries where registration is carried out. Canada requires a registered office document with every business filing.
Non-Acceptable Address Types for Canadian Business Registration
A business in Canada cannot use rural routes and postal box addresses as legal business addresses. In some cases, there is no street name for a physical address. If no street address exists, use sworn descriptions of the location, such as Lot 1, concession 1, etc.
Why Use a Virtual Office as the Business Address?
Virtual offices come with many advantages. Outside of the physical address, those who set up a virtual office contract also get the professional image of having a business centre be the business’s official address.
A receptionist will greet those who visit, and they will see your business name in the building’s directory. In addition, business centers that offer virtual office agreements also allow physical office rental by the hour. It is a great way to save money and access meeting space or a quiet office on an as-needed basis.
Registering a Business in Canada as a Foreigner?
Even when you are planning to open an international company in Canada, you don’t have to immigrate. The Investment Act is specifically created to regulate foreign companies that choose to open their first Canadian business and acquire ownership. Those who do not live in Canada can conduct business in Canada as long as the requirements are met.
One such requirement is increasing production and employment in Canada. A virtual office makes this possible. For starters, it gives a business a physical presence in Canada. It allows the business to function on Canadian soil by hiring employees and even providing physical office space for these employees should they need it.
Canada’s attractive tax rate, low corruption rates, and substantial economic strength make it a top business destination. Firms looking for international business can be ideal candidates for global expansion in Canada. These firms can test the Canadian market using virtual office space.
Start a Business in Canada with a Virtual Office
Your new startup in Canada requires a physical address. A virtual office agreement is an easy and affordable way to do this. Connect with us if you need to set up your business in Surrey, Canada. Our business centre officers offer all of the perks of a traditional office at a fraction of the cost.