Register a Sole Proprietorship in PEI

A sole proprietorship is a business structure in which an individual owns and operates the business alone.It's also formerly known as Master Business License in Ontario. The owner is personally responsible for all debts and legal liabilities. The owner also receives all the profits generated by the business and is responsible for paying taxes on them. Sole proprietorships are simple to set up and manage, but they offer little protection to the owner's personal assets in case of business losses or legal action.

A physical address is required to Register Business in your Selected Province. Where the government will send documents. If you do not have a physical address, you can use our Registered Address Service that includes mail receiving and forwarding. Please note that PO Box is not accepted by the Government.

In a sole proprietorship, the business owner is an individual who operates and manages the business on their own. The owner is typically the sole decision-maker and is responsible for all aspects of the business, including its profits and losses, debts, and legal liabilities.

Business Number (BN) is assigned to corporations by the Canada Revenue Agency (CRA) and is used to identify your business for tax purposes. If you collect and remit Goods and Services Tax (GST) you need GST/HST accounts. If you pay salary to you or other employees you need a Payroll account. If you export or import goods to foreign countries or from Canada you need to register Export or Import accounts.