Federal vs. Provincial Incorporation: What You Need to Know! 💼 #shorts

Should I incorporate federally or should I incorporate provincially? And really, the answer is going to be it depends. And what used to happen is that federal corporations had an additional filing, and that additional filing had a fee attached to it. And essentially the additional filing was related to is your Minutebook up to date? What was the date of your last shareholder board of directors meeting? What resolutions were passed? What was the date of that meeting? And your Minutebook is essentially up to date, and it was an extra filing that took place. Place. Again, thinking of setting up a federal corporation, you do adhere to the federal laws related to employment versus the provincial rules. So it's something to keep in mind when you're starting to build a team, whether or not you want to fall into those multi jurisdictional or federal jurisdictional rules and regulations.