Ontario launches a new updated business registry
by CM Staff
Businesses will now be able to complete over 90 transactions through the new online registry, including registering a new business and dissolving an existing one.
TORONTO — Ontario is launching a new Ontario Business Registry on October 19, trying to make it easier, simpler, and more affordable for millions of businesses and not-for-profit corporations to interact with the government. The new online registry will replace the out-dated technology, providing people across the province with direct access to government services 24 hours a day.
Businesses will now be able to complete over 90 transactions through the new online registry, including registering a new business and dissolving an existing one. Registrations or filings that were previously submitted by mail or fax, taking four to six weeks to complete, can now be done instantly through the online registry. When online transactions are completed, users will receive automatic email notices with electronic attachments instead of paper documents. The migration of annual return filings that were previously completed through the Canada Revenue Agency will be available through the Ontario Business Registry, allowing businesses to keep all their important filings in one place.
“Ontario’s businesses and not-for-profit corporations are overdue for a new business registry that meets the needs of our modern economy and rapidly expanding digital world,” said Ross Romano, Minister of Government and Consumer Services. “Our government’s new business registry will help ensure businesses can access the services they need quickly and efficiently in order to reduce their costs and allow them to focus their time and energy on rebuilding from the impacts of COVID-19.”
Along with the launch of the Ontario Business Registry, the Not-for-Profit Corporations Act, 2010 will come into force on October 19, which will provide a modern legislative framework for Ontario’s not-for-profit corporations. The legislation will try and reduce the bureaucratic burden on not-for-profit corporations, moving from paper-based filings to digital services and providing them with enhanced flexibility.
“The new system will provide a modern, streamlined digital platform that saves business owners’ time by limiting the need for in-person interactions and cumbersome paperwork,” said Minister Romano. “Ontario’s businesses and not-for profit corporations will have immediate access to over 90 services, allowing them to focus more of their time on serving our communities.”