Sole proprietorship or Corporation

NC1
New Member
1 0 0

Hi All,

I live in Alberta, Canada. I want to start shopify drop shipping store. I have few questions before I get started. Any help will be highly appreciated.

What kind of business I should register for  sole or corporation in Canada? 

Can I easily incorporate the business from sole to corporation later?

Do I have to get business bank account right away or can I use my personal checking account at initial phase?

 

Thank

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Jade
Shopify Staff (Retired)
Shopify Staff (Retired)
353 0 81

Hi, NC!

My name is Jade, I am with the Social Care Team at Shopify.

I have changed the category of your post from Wholesale & Dropshipping to Accounting & Taxes. This way, you will have more people who are searching for that topic see your post. 

The best solution so that your business starts off on the right foot, is to speak with a tax authority in your area about your questions regarding registering as a sole proprietor or a corporation. Depending on the payment provider you select, you can use a personal or a business bank account to accept payments from your store. It never hurts to ask a tax authority about which type of bank account is best when starting your business.

I hope this information helps! Best wishes!

Jade | Social Care

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