To operate a business in the Province of Ontario with a name that is different than a personal legal name, it must be registered. A Master Business License confirms that a business name has been submitted to the Ontario Ministry of Services, Companies, and Personal Property Security Branch for registration on the public record. This license can be used as proof of registration for a business name at a financial institution and is required to set-up a business bank account. A business can be registered as a sole proprietor, general or limited partnership, or under an existing corporation. The fee for a Master Business License is $60 and must be renewed every five years.
In order to operate a business in Timmins Ontario, certain businesses are required to secure a business license from the City of Timmins. Licenses cost $145 per year required approvals or inspections will vary dependent upon the sector the business operates within.