Registering your Business

Do you need to register your business? Where can I register a business? How much does it cost? Do I need a lawyer? Read more for information on where to begin the registration process and what you options are.

If you are operating a sole proprietorship or partnership under a name that is not your exact legal name, it is a legal requirement in Ontario to register a business name. This is where registering a business begins. A Business Identification Number (BIN) is assigned upon the registration of a business name, as part of the Master Business License from the Ontario Ministry of Consumber and Business Services.

Designed to simplify interactions with the Canada Revenue Agency (CRA), a business number (BN) is a nine digit number assigned to a business when it is registered for any of the 4 CRA accounts :

  • HST
  • Payroll deductions
  • Importer/Exporter
  • Corporate Income Tax

To register you will need the Name and Social Insurance Number of at least one owner or director and the Major Business Activity.