Ownr is a Canadian online platform that automates registering, incorporating, managing, and building businesses in Canada. Founded in 2017, this innovative online platform simplifies the incorporation process, making it quick and easy for anyone to start their own business.
With Ownr, entrepreneurs and small business owners can incorporate their companies in just a few simple steps without the need for expensive lawyers or accountants. The platform is user-friendly and intuitive and requires zero legal or accounting experience. Users simply answer a series of questions about their business, and Ownr takes care of the rest.
But is Ownr really the right choice for your business? In this Ownr review, we’ll look closer at Ownr’s features, pricing, pros and cons to help you decide if it’s the right fit for your needs. So let’s dive in and see what Ownr has to offer!
- Ownr is more affordable compared to using a lawyer
- It saves time as you can incorporate your business in few minutes
- It offers great tools and information for incorporating your business, such as a comprehensive guide on starting and running a business in Canada.
- The entire process is available online through the Ownr’s portal
- You can get up to $300 back on your Ownr fees
- It offers a number of other perks, such as Xero, Telus, H&R Block, etc.
- Only accessible to residents of BC, Alberta and Ontario
- Only supports sole proprietors and corporations
- Limited legal advice
An Overview of Ownr
Ownr is a Canada-only company owned by RBC Ventures, a Royal Bank of Canada subsidiary. Based in Toronto and available only in Alberta, BC, and Ontario, the company aims to help entrepreneurs and small business owners register and incorporate their businesses in Canada.
Over 85,000 businesses in Canada have been registered using Ownr. In 2020, Ownr acquired Founded Technologies to expand its top-notch services to Canadian entrepreneurs.
Ownr partners with various organizations, such as accounting firms, law firms, entrepreneurship centres, incubators, etc., to offer perks to its users.
Ownr does the hard job of registering or incorporating your business in Canada. You only need to secure a business name, provide your details and leave the rest for Ownr.
Depending on your company structure, Ownr has all the tools to make your business comply with federal and provincial laws.
Is Ownr Legit?
Yes, Ownr is absolutely legit. Besides being a venture of one of Canada’s five biggest banks, Ownr has more than 85,000 registered businesses.
Also, Ownr partners with various organizations such as accounting firms, law firms, entrepreneurship centres, and incubators in Canada.
Moreover, with advanced encryption that manages your information on its website, you have nothing to lose by registering or managing your business through Ownr.
Incorporate Your Business With Ownr
Incorporating your business with Ownr is easy and takes just a few minutes. To incorporate your business, search for an available business name, provide your details and make payment.
After that, Ownr will do all the hard job for you by submitting your application, and you can expect to receive your business document within one working day.
Ownr prepares all corporate formation documents, including Director’s Consent, First Director’s Resolution, Notice of Issuance, Securities Register, etc. Ownr saves you the hassle and cost of using a lawyer to prepare these documents.
The following are the key features of Ownr incorporation services:
- Incorporation & filings with the government
- Registration of company name
- CRA business name registration
- GST/HST program account registration
- Company Organization Documents & Share Issuances
- Maximum of 3 User Accounts
- Access to your incorporation documents through the Ownr platform
Registering a Sole Proprietorship With Ownr
To register your sole proprietorship, search for potential business names. When you have reserved your business name, fill out your business details on the Ownr’s online platform, and make payment for sole proprietorship registration.
Ownr will do all the work for you, have your business registered, and send your business license via email within one business day if you reside within Ontario and Alberta. It may take up to 15 business days for BC residents to reserve their business name.
The business license documents will vary depending on your province:
- Ontario: Master Business License
- Alberta: Trade name Declaration
- BC: Statement of Registration of Sole Proprietorship
The following are the key features of Ownr sole proprietorship service:
- Unlimited business name searches
- Business registration documents
- Business registration number
- Storage of business document
- Chat support
- Ownr Perks
How Much Does Ownr Cost?
Ownr has a one-time fee for incorporation, managed incorporation, and sole proprietorship plans.
The following table shows the annual cost of Ownr, which apply to Alberta, British Columbia, and Ontario:
Provincial Incorporation Fee
Managed Corporation Plan
$89 + tax
$599 + tax
$89 + tax
$599 + tax
$89 + tax
$699 + tax
Besides the $300 money back, Ownr also offers a series of perks through its partners, such as:
Vistaprint offers 20% off your initial order using your unique Ownr code. This company offers custom marketing products that give your business a professional outlook.
2. TELUS Business
TELUS Business is your one-stop shop for telecommunications products and services. Through Ownr, you will get 10% monthly for activating or renewing your TELUS Business plan.
Get 20% off to protect your business trademark on Heirlume through Ownr. This is cost-effective, especially if you calculate the long-term cost of protecting your business trademark.
Stay on top of your business accounting with 3 months off on your Xero subscription. Xero is a reputable online accounting tool that helps you manage your business account in one place.
Get 60-day free shipping through your favourite means by registering or incorporating your business on Ownr.
Get a free 90-day eBay store as an Ownr user to showcase your products or services to over 180 million buyers online.
7. H&R Block
Ownr also saves you 20% on your small business or self-employed tax preparation fees on H&R and Block. You can save up to $100 on your tax fees as an incorporated business owner.
Incorporation vs Sole Proprietorship
It depends on your resources and your choice. Most businesses start as sole proprietorships before upgrading to incorporations. This is because it’s easy to start with a low budget.
However, as a sole proprietor, you are liable for all the risks associated with your business, unlike incorporation, where risks are shared.
On the other hand, you enjoy all your business profits as a sole proprietor while you share your profit with your partners under incorporation.
Incorporating a business is risk-saving, but it can be complex compared to a sole proprietorship. As a result, you can start as a sole proprietorship and upgrade later when your business grows.
However, incorporation could be your ideal option to limit your liability and make your business transcend your lifetime.
Overall, your choice should reflect your budget, goals, experience, and business objective. If you are still unsure which business structure is right for you, consult a financial expert or lawyer.
Other Alternatives to Ownr in Canada
Two major alternatives to using Ownr to register or incorporate your business in Canada are DIY and lawyer.
However, doing it yourself can be stressful and time-consuming since you must research and follow the applicable business registration or incorporation laws. You may get stuck in the process of Doing it Yourself and seek the help of a lawyer.
While a lawyer can save you the stress of registering or incorporating your business, you should be ready to spend an average of $1,500. This is way more expensive than registering a sole proprietorship or incorporating a business on Ownr.
But remember, Ownr gives you $300 back when you open an account which is more than the cost of registering a sole proprietorship.
While Ownr is better than DIY and lawyer, I suggest you choose an option that suits your current situation.
Final Thoughts on Ownr Review
Ownr is an innovative online platform that simplifies the incorporation process, making it quick, affordable, and easy for anyone to start their own business.
With over 85,000 registered businesses and in partnership with a wide range of organizations, Ownr is a legit platform providing a user-friendly and intuitive experience for entrepreneurs and small business owners in Canada.
Whether you want to incorporate your business or register a sole proprietorship, Ownr has got you covered. As a result, this Ownr review is positive, and I recommend it to everyone looking to register or incorporate their business in Canada.
FAQs on Ownr Review
How Long Does Ownr Take to Register?
It takes 15 minutes to register your business on Ownr. However, your application will be processed and completed within one business day. The Ownr registration process is more speedy compared to DIY or using a lawyer.
How to Contact Ownr?
The Ownr customer service team can answer your questions Monday – Friday (9.00 am – 5.00 pm EST). You can contact the Ownr customer service team through 1-800-766-6302 (phone), firstname.lastname@example.org (email), or the chat button on its website.
Based on experience, Ownr customer service team is friendly and responds to questions quickly.