Co-operatives are set up as either federal or provincial corporations. Your needs, the needs of the members and the business location can help you determine which option is best for your co-op.
Provincial Co-op Incorporation
If you plan on opening a location(s) only in Ontario, you may choose to incorporate your co-op provincially.
There are three major parts of applying for provincial incorporation:
- Complete a NUANS name search, which will confirm if your chosen business name is available.
- Send the appropriate forms and documents to the Ministry of Government and Consumer Services. The documents provide the co-op’s name, purpose, share structure, directors and incorporators. Approval is needed before you can start doing business.
Pay the appropriate fee.