Register Master Business Licnese
What is a Sole Proprietorship?
The Master Business License (MBL) was previously the official document issued by Service Ontario that allowed a business to legally operate under a specific name. It has since been renamed and is now referred to as Business Name Registration.
This registration can be completed under one of the following three business structures:
- Sole Proprietorship – Operated by a single individual
- Partnership – Operated jointly by two or more individuals or entities
- Trade name/DBA (Doing Business As)/Operating Name – A legally incorporated business with its own legal identity
Type of Master Business License and Ownership
Sole Proprietorship or Sole Owner: Choosing to operate a business under a distinct name rather than one’s personal name can offer several practical advantages. It enables an individual to open a dedicated business bank account, establish a clear brand identity, and obtain necessary permits, such as municipal licenses. In Ontario, this type of setup is typically registered as a sole proprietorship. To register, the person must be at least 18 years old and have a valid address within the province. This approach allows entrepreneurs to present a professional image while enjoying the flexibility of running their business independently.
Trade name/DBA (Doing Business As)/Operating Name: corporations have the option to register a separate business name—commonly referred to as a Trade Name, Doing Business As (DBA), or Operating Name—to operate under a title different from their legal name. This approach is often used by numbered corporations (e.g., 12345 Inc.) to establish a reputed brand, appear more attractive in marketing materials, and complying the licensing requirements such as municipal permits or other permits from various authorities. A corporation may also choose to register distinct names for different departments or divisions, especially when managing separate bank accounts or streamlining accounting.
When completing the registration, the business entity is identified as a Corporation. To qualify, the corporation must be registered in province which planning to operate from and have a valid address in the province. If the company is federally incorporated or based in another province, it must first complete extra-provincial registration prior to registration.
General Partnership: This business structure where two or more people, corporations share ownership, profits, and liabilities. It’s simple to set up and widely used by entrepreneurs and small business owners in Canada. It requires 2 or more individuals, corporation or a combination of corporation and individual to register a General Partnership.
Register a Sole Proprietorship
- Single Owner
- Physical address in province required
- Registrant must be of legal age 18 of years
- Cost effective and can be completed in 2 hrs
- Valid for 5 years and can be further renewed
Register a General Partnership
- More than 2 individuals or Corporations required
- Physical address in province required
- Registrant must be of legal age 18 of years
- Cost effective and can be completed in 2 hrs
- Valid for 5 years and can be further renewed
Register a Trade name/DBA/Operatinng Name
- A valid corporation is required in the Province
- Physical address in province required
- Cost effective and can be completed in 2 hrs
- Valid for 5 years and can be further renewed
Benefits of Master Business License
When you choose to register a Sole Proprietorship, you unlock several strategic advantages for your business
Quick to Start
Quick to start: No complex paperwork or high setup costs. Can be registered as fast as in 2hrs.
You are in control
No partners or board meetings—just your vision and decision. You will manage all the operations and select whats is best for the business without any interference
Less Regulatory Compliance
Fewer rules and filings compared to corporations. Less time spent on managing paperwork more time for growth.
Direct CRA Tax Account Reporting
Business income is reported on your personal tax return means no separate corporate taxes and returns
Validity
MBL is good for 5 years whcih can be easily renewed few months prior to expiry or 60 days after the expiry
Easy Banking
Eay to open business account as less paperwork due to the nature of business and manage the finances
Master Business License Ontario is a simple form of business which further classfied into Sole Prop, General Partnership, Trade name
NUANS Reports assess corporate/business name availability, necessary for business registration. Although the MBL lies under Un-incorporated business but still we need to check for the current conflicts in terms of corporations and trademarks to avoid any deficiency letter.
Google search results rely on web searches and businesses with online presence. However, they cannot replace the NUANS Report, which cross-references names with various elements in the government database to generate accurate reports.
An MBL is valid for 5 years.
Business name can be renewed with in 60 days of expiry after that we can still proceed with the same name as a new registration.
Best practice for a business name is to add a distinctive and descriptive term.
- Full control over business decisions
- Simple tax filing (income is reported on your personal tax return)
- Minimal paperwork and regulation
- Easy and Inexpensive steup
Yes, sole proprietors can hire staff. You’ll need to register for a payroll account with the Canada Revenue Agency (CRA) and follow employment standards.
You can Incorporate with the same name at any time depends on the name availability and a NUANS report is required to check for any potential matching conflicts.