Company Incorporation: Who Qualifies and What You Get
Learn how to set up a separate legal entity for your business and understand the costs and responsibilities involved.
Company incorporation allows you to turn a business into its own legal person, separate from yourself.
Who it's for
This is for anyone who wants to limit their personal liability. This means that, in many cases, your personal assets are protected if the business faces legal or financial trouble.
What you get
By incorporating, your business gains its own legal status. This separate identity is useful for managing a dropshipping business or any other commercial venture, as it distinguishes the business's actions from your own.
What it costs you
There is a registration fee to set up the company, typically ranging between $100 and $150. Once your company is active, you will also need to pay fees for filing your annual return to keep your information up to date.
The catch to know
Registering as a company does not remove your personal tax responsibilities. You must still manage your tax obligations carefully to remain compliant with government rules.
How to apply
- Prepare the necessary details for your new business entity.
- Visit the official online registry.
- Submit your application and pay the required registration fee.
- Follow the official portal for the current amount and specific filing instructions.