Ownr Review: Easily Incorporate a Business in Canada with Ownr
Ownr makes incorporating your business straightforward, efficient and inexpensive.
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Ownr Review Summary TL:DR Version
Start here for our quick summary of our Ownr review and then read the full article below for details.
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Ownr.co Overall Review - 4.5 Stars
Ownr is an excellent platform to use for incorporating your business, managing corporate filings or registering a sole proprietorship. You can easily save $1,000 by incorporating with Ownr compared to incorporating through a lawyer.
We do recommend to those who are looking to start a business or incorporate.
We used Ownr to incorporate our new business, , and it was a great experience.
The main drawback is that you won't have access to a lawyer through Ownr for legal advice. You'll want to have a good idea of how you want to set up your corporation.
Cost
The cost to use Ownr for incorporation and corporate filings is significantly less than using a lawyer, but you don鈥檛 get the benefit of legal advice that comes with a lawyer.
The standard cost of incorporating with Ownr ranges from $399 to $599 depending on which services you choose and where you鈥檙e located.
You can save 20% by using .
You can also get up to $300 back if you open an RBC business bank account after incorporating see details ().
Support
Ownr provides a clear step-by-step process for incorporating your business. You can also access templates for various corporate documents and agreements.
What is Ownr?
Ownr is a Canadian business that helps new businesses to register, incorporate, create legal agreements, manage employees and more.
It sets itself apart from traditional service providers like lawyers and notaries by providing an online platform where business owners can easily set up their businesses.
Use Ownr to set up a sole proprietorship or a corporation in a matter of minutes.
Check out this quick 1 minute video from Ownr one how it works.
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In Which Provinces is Ownr Available?
At the time of this writing, Ownr is available in the following provinces:
- Alberta
- British Columbia
- Ontario
Ownr is working on expanding its services to other locations, but for now it鈥檚 only available in Alberta, British Columbia and Ontario.
What Services Does Ownr Provide?
Ownr can help you register a new business (sole proprietorship or corporation), or manage the administration of an existing corporation.
Incorporate a Business with Ownr
Incorporate your business with Ownr quickly using their online platform and for much less than incorporating through a lawyer.
Incorporation services include:
- Incorporation and filings with the government
- Business name search
- Company name registration
- Company organization documents and share issuances
- CRA business number registration
- GST/HST program account registration
- Access to your incorporation documents through Ownr鈥檚 online platform
Corporate Administration and Document Management with Ownr
Owner will ensure that you have the legal documents required to run your business and can act as a home for your important corporate documents.
Corporate administration and document management includes
- Online minute book management
- Annual filings and resolutions
- Secure corporate document organization (bylaws, director appointments, corporate resolutions, etc.)
- Initial share issuances and company ownership register
- Management of corporate directors, officers and addresses through the platform
- New share issuances after incorporation
- Various legal document templates (employee agreements, NDAs, dividend resolutions, shareholder agreements, vesting agreements, financing documents, etc.)
- Employee stock option plan management
Register a Sole Proprietorship with Ownr
Ownr also allows you to register your business as a sole proprietorship in minutes.
Sole proprietorship registration includes:
- Unlimited business name searches
- Business registration number
- Business registration documents
- Business document storage
Which Business Structures Can You Register with Ownr?
With Ownr, you can register a corporation or a sole proprietorship.
Corporations that can be registered with Ownr include:
- A provincially incorporated business located in British Columbia
- 鈥A provincially incorporated business located in Alberta
- 鈥A provincially incorporated business located in Ontario
- 鈥A federally incorporated business located in Ontario
Sole proprietorships that can be registered with Ownr Include:
- A sole proprietorship located in British Columbia
- 鈥A sole proprietorship located in Alberta
- 鈥A sole proprietorship located in Ontario
At this time, Ownr can only offer federal incorporations if you鈥檙e located in Ontario. Info on the difference between federal and provincial incorporation can be found here.
If you鈥檙e not located in BC, AB or ON, you can add your email within Ownr and they will notify you once they are available in your location.
Ownr Pricing: How Much Does Ownr Cost?
Incorporating or registering your business with Ownr is very reasonably priced. This is especially true when comparing the cost to the alternative of hiring a lawyer.
Registering a sole proprietorship is $49 + tax and includes unlimited business name searches, business registration number, business registration documents and business document storage.
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The cost of incorporation with Ownr varies depending on what province you鈥檙e located in and whether you subscribe to the managed corporation plan after incorporation or not.
The one-time incorporation fee includes incorporation and filings with the government, company name registration, share issuances, and access to the online minute book for one year.
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If you鈥檙e incorporating and you choose the managed corporation plan, you鈥檒l save $100 on the initial incorporation fee.
Compare these prices to the pretty standard cost of $1,500 you鈥檒l pay to incorporate with a lawyer and you can see that Ownr is a much less expensive way to incorporate.
How to Get $300 Cashback When Incorporating with Ownr
Ownr is an RBC Ventures company and you can get up to $300 cash back if you open an RBC Business Bank account through Ownr. 聽
Open an RBC Business bank account within 60 days and you can receive up to $300 back depending on province of incorporation.
If you registered a sole proprietorship, you can expect the full $89 registration fee back if you use this offer!
You鈥檒l need to keep the RBC bank account open for at least one year if you want to take advantage of this offer.
To claim the offer, log into your Ownr account and click the 鈥渞efund me鈥 button in your dashboard.
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Pros and Cons of Incorporating Your Business
Looking to start your business but not sure what business structure is best? We wrote an entire article on the pros and cons of incorporating your business. Check out the link or read the summary below.
Advantages of Incorporating Your Business
Limited Liability
Operating your business through a corporation provides a layer of security against personal liability. It makes it more difficult for someone to go after your personal assets if the business defaults on its debts.
Tax Savings and Deferral
In some situations, corporations have a lower tax rate than individuals. Operating your business through a corporation instead of a proprietorship can help to defer and save taxes.
Income Splitting
Income splitting used to be a major reason for incorporating your small business. Since 2018, this has changed significantly due to some new tax regulations, and it is now much less of an advantage.
Lifetime Capital Gains Exemption (LCGE)鈥
The LCGE allows some incorporated businesses to sell at a gain of up to $892,218 without paying any tax.
Estate Planning
A corporation is a separate entity to you, so it continues to live on regardless of what happens to you. This can be helpful when planning to transfer your assets to others.
Disadvantages of Incorporating Your Business
Incorporation Costs
There are costs involved when starting a company. Having a lawyer help draft the documents of incorporation is a good idea, but it isn鈥檛 cheap. Ongoing Costs 鈥 There are annual legal filing fees to be paid as well as fees to have an accountant file the annual corporate tax return.
Administrative Burden
The corporation requires legal and tax filings each year to remain in good stead with the authorities. This requires attention and is a time commitment for the owner(s).
Losses More Difficult to Use
If your business sustains financial losses, it is more difficult in a corporation than in a proprietorship to use those losses to reduce future taxes.
Pay More Taxes鈥
In some scenarios operating your business through a corporation could actually mean you pay more taxes than if operating as a proprietorship.
Here鈥檚 a quick checklist on the differences between a corporation and sole proprietorship.
Should You Incorporate Your Business?
Whether or not to incorporate comes down to your specific situation. There is no blanket advice on the subject that can be provided in an article like this one.
A lawyer friend of mine read our article on whether or not to incorporate and put it to me like this:
鈥淚f you鈥檙e not playing around and are determined to grow a successful business, why not plan for that success and incorporate from the beginning?鈥
I鈥檓 starting to come around and generally agree with him when it comes to incorporating and building a thriving business, but that doesn鈥檛 mean incorporation is right for everyone. Make sure to understand the full picture before making the decision.
How to Incorporate a Business with Owner
Check out and/or follow the steps below!
1. Navigate to Ownr and Receive 20% off
Use our to navigate to Ownr and receive 20% off Ownr鈥檚 fees.
2. Get Started Now
Click the 鈥淕et Started Now鈥 button to begin your incorporation.
3. Choose Your Location
Let Ownr know where you鈥檙e located by choosing Canada and your applicable province. Ownr is currently only available in BC, AB an ON.
4. New or Existing Business
Choose between registering a new or existing business.
5. Choose a Business Structure
Choose whether you want to create a corporation or a sole proprietorship. If you鈥檙e not sure which is right for you, check out our article here.
6. Choose a Name
Choose whether you want a numbered company or a named company. If you want a named company, you can do a preliminary check to see if the name you want meets the legal requirements of a corporation in your location.
7. Create an Ownr Login
Enter your information to create an Ownr account.
8. Account Information
Enter your contact info and some information about your business like what industry its in and what you want the year-end to be.
9. Directors and Officers
Tell Ownr if you will be managing the business by yourself or if you would like to add some other managers or directors. You鈥檒l be prompted to enter the information of the other managers and owners if you have any.
10. Choose a Plan
Choose whether you want to incorporate only, or if you want to use the Managed Corporation Plan as well. See here for what the managed corporation plan includes.
11. Pay
鈥Enter your credit card information and submit payment
12. Name Reservation and Finalize
Once you鈥檝e paid, Ownr will do a search to make sure you can reserve your corporate name before finalizing and submitting your application.
Pros and Cons of Using Ownr
If you read and watched how to incorporate a business with Ownr, you鈥檒l see that it鈥檚 a pretty slick process with helpful guidance. However, there are some drawbacks to using it as well. Let鈥檚 take a look at the pros and cons.
Pros of Using Ownr
Cost Savings
鈥It鈥檚 much less expensive to incorporate your business with Ownr than to go the more traditional route of using a lawyer.
Time Savings
You can incorporate your business in a matter of minutes and on your own schedule.
Great Tools
Ownr provides the tools and information that you need to incorporate and then manage the administration of your corporation.
Access Online
You can access your corporate documents and information through Ownr鈥檚 online portal instead of having to drive down to a lawyer鈥檚 office.
Up to $300 Back
If you open an RBC business bank account for your new corporation, you can get up to $300 back on your Ownr fees.
Other Perks
Ownr has partnered with a number of other service providers to offer you discounts. You can see and some notable examples include:
- 鈥香港金光佛论坛 - 50% off the first 3 months of your 香港金光佛论坛 subscription
- 鈥QuickBooks Online - 70% off for the first three months of QuickBooks Online subscription
- 鈥Telus - Save up to 25% on business mobility plans
- 鈥H&R Block - Save 20% on self-employed tax prep or $100 off of corporate tax preparation fees
Cons of Using Ownr
Limited Locations
As of writing this article, you can only use Ownr if you鈥檙e located in British Columbia, Alberta or Ontario.
Limited Business Types
Ownr currently only supports sole proprietors and corporations. If you鈥檙e looking to set up a partnership or joint venture, Ownr isn鈥檛 for you.
Limited Legal Advice
If you鈥檙e incorporating with a lawyer, you will be able to get advice and answers to specific legal questions from your lawyer. Ownr has great tools and support, but no access to a lawyer.
Ownr Alternatives
There are a couple of common alternatives to Ownr when incorporating or starting a sole proprietorship.
- Incorporate through a lawyer
- DIY incorporation
Incorporate Through a Lawyer
Incorporating through a lawyer is the more traditional method of setting up your corporation. You will need to reach out to a corporate lawyer in your area to get the process started.
DIY Incorporation
You can also complete the incorporation process on your own through your local government body. This can be done online without assistance from a lawyer.
- 鈥Federal Incorporation - Start the federal incorporation process
- British Columbia Incorporation - Start the BC incorporation process
- Alberta Incorporation - Start the AB incorporation process
- Ontario Incorporation - Start the ON incorporation process
Incorporating with a Lawyer
Incorporating with a Lawyer is the most expensive, but provides the greatest level of support and advice.
Cost
Incorporating through a lawyer costs about $1,500 on average and you will need to rely on your lawyer or legal team to be responsive to get the job done.
Support
You can get advice from your lawyer on things like share structure, shareholder agreements, how to limit your liability and general best practices.
Scenarios
Some potential lawyer incorporation scenarios include:
- Incorporating with a lawyer could be a good option if you鈥檙e not worried about the cost and are concerned about getting the best advice when you incorporate.
- It can also be a good choice if you are planning a more complicated corporate structure.
DIY Incorporation
DIY incorporation provides the least amount of support and advice as you鈥檙e just using the online forms or tools provided by the government in your location. However, it can be the least costly option of the three.
Cost
The actual incorporation process can be less expensive than the other two options when choosing the DIY option. For example, a BC incorporation will cost around $380 to complete using the DIY option.
Ownr can actually be less costly if you take advantage of their promotions, plus 香港金光佛论坛鈥檚 affiliate link can save you an additional 20% on Ownr鈥檚 services.
Support
As you might expect, DIY incorporation offers the least amount of support. You鈥檒l be on your own to fill out the forms and complete the incorporation process.
Scenarios
Some potential DIY incorporation scenarios include:
- DIY incorporation can be a good choice if you are experienced in running a business through a corporation and don鈥檛 need any guidance.
- It could be suitable if you are planning a simple corporate structure.
- It can also be a reasonable method if you want to keep costs down.
Incorporating with Ownr
Incorporating your business with Ownr falls somewhere in the middle when it comes to support.
The standard cost of incorporating with Ownr is slightly higher than the DIY option, but can become the least costly if you take advantage of some discounts and offers.
Support
Ownr provides a clear step-by-step process for incorporating your business. You can also access templates for various corporate documents and agreements.
It provides more support than the DIY option, but less than going with a lawyer as you can鈥檛 ask Ownr for legal advice.
Cost
The cost of incorporating with Ownr is pretty comparable to the DIY option and much less than using a lawyer.
The standard cost of incorporating with Ownr ranges from $399 to $599 depending on which services you choose and where you鈥檙e located.
You can reduce the cost by 20% by using .
You can also get up to $300 back if you open an RBC business bank account after incorporating see details ().
Scenarios
Some potential Ownr incorporation scenarios include:
- Incorporating with Ownr can be a good choice if you are looking to save on the cost of incorporating via a lawyer.
- It is a good option if you鈥檙e looking for a way to manage your corporate documents and filings online in one place.
- It is also suited for those who don鈥檛 have a lot of legal questions when incorporating.
- It鈥檚 also great for simple corporate structures.
Ownr Promotion Code - Save 20% on Incorporating with Ownr
You can save 20% when you incorporate with Ownr by using .
The 20% discount also applies to Ownr鈥檚 other services including managing your corporate documents and filings or setting up a sole proprietorship.
We do receive a commission if you use the link above and sign up with Ownr.
Ownr Review Conclusion
Overall, the ease of use and low cost of using Ownr make it an excellent choice for business owners who want to incorporate their business.
If you want to incorporate and you plan on a fairly simple corporate structure, which is fairly common for small business in Canada, Ownr may be a good choice for you.
The main drawback is that you don鈥檛 get the same guidance or legal advice that you do when you incorporate with a lawyer.
If you decide to , it鈥檚 still useful to consult with your accountant before incorporating.
Ownr Frequently Asked Questions (FAQ)
How Much Does Ownr Cost? / Ownr Pricing
Pricing for Ownr varies by business type and province of registartion. Incorporation costs between $499 and $699 depending on which province you're in. Sole proprietor registration starts at $49.
- Register a sole proprietorship with Ownr for $49 + tax
- 鈥Incorporate in BC with Ownr for $699 + tax
- 鈥Incorporate in Alberta with Ownr for $599 + tax
- 鈥Incorporate in Ontario with Ownr for $599 + tax
- 鈥Incorporate Federally with Ownr for $499 + tax (only available for Ontario residents)
- Managed your Corporate documents and filing with Ownr for $599 + tax per year
Which Provinces Does Ownr Service?
Ownr currently provides services to those located in BC, Alberta and Ontario.
What Types of Business Structure can you Register with Ownr?
A the moment, only sole proprietorships and corporations can be registered with Ownr.
Who Owns Ownr?
Ownr is owned and operated by RBC Ventures Inc.
How Long Does it Take to Register a Business or Incorporate with Ownr
It takes about 15 minutes to complete the registration or incorporation process. Once that鈥檚 complete, it can take another day for the registration process to be completed on Ownr鈥檚 side.
Is Ownr Legit?
Owner is backed by RBC Ventures Inc. and is a reliable way to incorporate a company in Canada.
Is Ownr Worth it?
The ease of use of Ownr and it's relatively low cost make it an excellent choice for business owners who want to incorporate. 聽It's also an excellent platform for keeping your corporate records in order.
Does Ownr Have an App?
At the moment, there is no mobile app for Ownr. You may see an app called OWNR聽digital wallet on the app store, but it has nothing to do with Ownr, the company owned by RBC Ventures聽Inc.
Who Owns Ownr?
Ownr is owned and operated by RBC聽Ventures Inc. Ownr is an online platform that allows Canadians to register or incorporate a business in Canada.
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