FAQ
Frequently asked questions
- Named or numbered — what's the difference?
- A named company (e.g. "Maple Yard Inc.") needs a name search; a numbered company (e.g. "1000123 Ontario Inc.") skips it and is faster. You can add a business name later.
- Corporation or sole proprietorship — which do I need?
- A corporation is its own legal entity — it limits your personal liability, gives access to corporate tax rates, and protects your business name, but it costs more to set up and maintain. A sole proprietorship is the simplest and cheapest option: you register your business name, and you and the business are the same legally, so you're personally responsible for its debts. If you're testing an idea or keeping costs low, sole proprietorship fits; if you want liability protection or plan to raise money, incorporate.
- Do I need a lawyer?
- No. Foundero is self-help incorporation you direct yourself. For complex situations (multiple share classes, investors), a lawyer can still be worth it.
- How long does it take?
- Most incorporations are submitted to the province within 1–2 business days.
- What's a minute book?
- The core record book of your corporation — by-laws, resolutions, and share records. We generate all of it.
- What's a BN?
- A Business Number (BN) is the CRA account number you use for federal taxes and payroll. If you incorporate, you'll use a BN with the CRA for your corporation's taxes and payroll. If you register a sole proprietorship, Ontario no longer issues a BN — your registration comes with a Business Identification Number (BIN), and you can request a BN from the CRA directly (1-800-959-5525) if you need one.
- What if my name is taken?
- Our name check flags conflicts before you pay, so you don't file a name you can't use.
- Can I incorporate federally?
- Not yet — Foundero V1 is Ontario incorporation.
- What if I cancel?
- Cancelling stops your renewal — you keep everything until the end of the term you've already paid for. After that, your government-issued incorporation documents stay yours to download forever; the documents Foundero generated for you, along with e-signing and company changes, pause until you renew for $99/yr. See our guarantee.
- What if I get a refund instead of cancelling?
- You keep your government-issued documents — the Articles of Incorporation, Business Name Registration, and Company Key are yours whatever happens to your Foundero plan. The documents Foundero generated for you, plus e-signing and account changes, pause until you reopen your account for $99/yr — the same price as a Basic renewal.
- Who actually files my incorporation?
- Foundero prepares your Articles of Incorporation and Initial Return based on the information you provide, then submits them to the Ontario government on your behalf. You stay listed as the incorporator on the official filings.
- Do I have to use a specific bank?
- No — you pick. We list the five major Canadian banks with no ranking and no recommendation, and "I'll set up business banking myself later" is a real choice, not a dead end. Foundero takes no commission from any bank.
- Which registries do you check?
- The free check covers federally incorporated corporations across Canada, using Corporations Canada's open data. Ontario and provincial name availability is confirmed with the official NUANS search at the paid reservation step.
- What is included in Year 1?
- Year 1 covers the full Ontario provincial incorporation — your Articles of Incorporation and Initial Return filed with the province, your complete minute book (by-laws, director and shareholder resolutions, share-issuance documents, and your ISC register), and either Basic or Pro tooling for the first year, depending on the plan you pick.
- What happens in Year 2?
- Your plan renews automatically at the Year 2+ rate shown on the pricing card — $99 / yr for Basic or $399 / yr for Pro. The renewal price is shown at the same size and weight as the Year 1 price, with no hidden fine print.
- How do I cancel?
- Open Settings → Subscription and email support@foundero.ai to cancel. Cancellation takes effect at the end of your current billing period. After that your government-issued incorporation documents stay downloadable; the rest of your workspace, including your minute book, pauses until you renew.