 Hello everybody, welcome back to my YouTube channel. I am Shirin and I'm gonna discuss with you about today a very important thing which people tend to sometimes ask and we get a lot of questions because we do a lot of business Immigration and other ways of immigration to Canada not just Canada We do other countries as well and in a few of the YouTube blogs You'll find that I talk about citizenship by investment programs and it is something that yeah I promote like I am an active speaker about Mobility and how globalization should be used in terms of your financial planning asset management and other things So one of the very important things that I'm gonna discuss with you today and now very regularly in terms of episodes is And today's one such episode that I would like to say and call it a company incorporation No, a lot of clients ask me Shirin is company federally incorporated provincial incorporation is important So one of the most important things in terms of this question is that what are you looking at now? There are obviously certain benefits when you are incorporating incorporation as certain benefits over you know, maybe a Partnership or an LP or an LP so the form of structure in incorporation is The in is important and the pros of this one of the biggest pros is that the company is acts like a corporate veil and when it acts like a corporate will all your assets all your Dividends everything belongs to the company. You can actually take out dividend from the company. The company is a separate legal entity One of the very important cases in which you know back then when we read corporate law is that Solomon versus Solomon where the company first time the corporate will recognition of a company was made and Hence it is very important for you to know that the benefits of incorporation are really There are many benefits you into Canada you tend to save a lot of taxes on corporation which you cannot do on a private company like yours Just like a self-incorporated company. So Yeah, I always recommend my clients that you have to think about long-term and if your Income will cross certain amount then of course incorporation is better So as a business Structure for entrepreneurs deciding the business structure is very very important Sometimes soul proprietorship what they can tend to do is even though they are great to register They are easily manageable. They are one person company But one of the most important things you would want to see is that all your income is considered as personal tax And then she don't want to be Taxed more higher than what your income actually is because you are unable to cut off any expenses or equate any of the expenses And that is when you want to separate yourself from your company And this is a this is like a if you are an entrepreneur with an ongoing business and everything even if you have a startup I would still say in incorporation is a better structure because eventually if you want to grow the business then it is gonna grow and the other thing the other common business I for sometimes Business owners they tend to They want to raise capital for their business Which is very difficult when it comes to a soul proprietorship like nobody trusts a soul proprietorship so easily Whereas an incorporation is obviously a stronger document in terms of Capital raising some capital for the company the other con that I feel with the soul proprietorship Is that it becomes if you in future you want to sell your business? It becomes really slightly on the difficult end because there's a capital gain tax Which will act as a barrier and most probably you will have to clear all your debts before reselling it The other thing which is very important again, which an incorporation will give you is a liability protection Now when it as I spoke about the corporate Liability the similarly here is that there is no liability protection and hence sometimes you want to be protected Sometimes it's actually on you should be on the company rather than should be on your personal thing So, yeah, overall if you ask me in terms of asset management Financial protection company growth stars as an entrepreneur I myself can tell you that incorporation is a better form of going but again It depends on what kind of a company and tax liability you're looking at and it is very circumstantial You should take advisory of some seasoned person in this In terms of your business and kind of business that you're doing Basically if you if you go through a process or as an entrepreneur If you go through a process of business structure in Canada or anywhere across the globe There are certain fundamentals that one should have safeguarded from the very beginning and hence I Always tend to advise my clients that this is one of the most important things You should decide beforehand and with this I come to the end of my short YouTube video But I'm gonna talk more about asset management fund management how you can Save got your personal assets how you can safeguard and globalize yourself mobilize yourself mobilize your income and as well With global mobility programs I do feel now is the time that people should be using it and you know, you should be aware about How you can grow in your business how your business can grow with you how Sometimes taxes are not required and you're paying unforeseeable taxes Those things you can protect yourself on how can you dispose of your property and how can you use those funds to manage them in a more Proper manner, you know, these are basic issues of wealth management as asset management and I do realize that people sometimes lack basic awareness and Awareness is the thing awareness is one of the most important things. So, yeah, stay tuned for more sus content on my channel and once Any comments or anything that you would like to give me please put in the comments section I'll definitely try to take up certain questions on my Facebook page Instagram page or on the YouTube channel So definitely get in touch if you have any question query concerned with regard to company Incorporations here or a new way or anywhere across the globe. Thank you