Canada Business Law
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There are two types of Ontario Corporations - one incorporated through Corporations Canada (Industry Canada) where the filing fee costs $200 and another one through the Ministry of Government Services where the filing fee is $360.00. I recommend the one through Corporations Canada because the annual maintenance is easier but either one works. If there are three directors (1US resident and 2 Canadian residents) then you will never have trouble with the "citizenship" of the corporation. If you have 2 directors, then it is better if both of them are Canadian citizens. For you to participate in the corporation, you can be an officer, such as President and Treasurer, so that you still sign off on bank records, income tax records and "checks" or, as we say in Canada - cheques. Lastly, so long as you have multiple classes of shares, you will have no problem granting various classes of shares to your 2 shareholders and stock options to your employees.
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