How to Get a Master Business Licence in Ontario

Starting a business in Ontario should feel exciting, not confusing. Yet many entrepreneurs find themselves lost in a maze of government websites, outdated terminology, and conflicting information before they even serve their first customer.

Here's the good news: registering your business in Ontario is straightforward once you understand the process. The "Master Business Licence" you've been searching for is now officially called Business Name Registration, and it happens through the Ontario Business Registry (OBR). This guide walks you through every step, from determining whether you need to register to understanding what comes next, like opening a business bank account and registering with the CRA.

Whether you're launching a consulting practice, forming a partnership, or adding a trade name to an existing corporation, you'll find clear, actionable guidance here.

What Is a Master Business Licence (Business Name Registration)?

The term "Master Business Licence" dates back to when Ontario issued physical licences to businesses operating under a registered name. While the government now calls this process Business Name Registration, the old terminology persists in everyday conversation and countless Google searches.

Business Name Registration gives you the legal right to operate under a specific business name in Ontario. When you complete registration, you receive a Business Identification Number (BIN), which serves as your provincial registration identifier.

What registration provides:

• Legal authority to conduct business under your chosen name

• A Business Identification Number (BIN) for provincial purposes

• Proof of registration for opening bank accounts and establishing business relationships

What registration does NOT provide:

• Trademark protection or exclusive rights to your business name

• Municipal operating licences or permits

• GST/HST registration or other CRA accounts

• Protection from a corporation registering a similar name

Think of business name registration as your provincial "birth certificate" for operating under a specific name. It's essential, but it's just one piece of the puzzle.

Do You Need a Master Business Licence in Ontario?

Not every business needs to register. Your requirements depend entirely on your business structure and how you plan to operate.

You NEED to register if:

• You're a sole proprietor operating under any name other than your exact legal name

• You're forming any type of partnership (general, limited, or LLP)

• Your corporation wants to operate under a trade name different from its registered corporate name

You do NOT need to register if:

• You're a sole proprietor using your exact legal name (e.g., "Jane Smith" rather than "Jane Smith Consulting")

• You've incorporated a business (corporations register through a separate process)

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Still unsure? Ask yourself this: Will customers see a business name that differs from your legal name or your corporation's registered name? If yes, you need to register.

Before You Start: What You'll Need

Gathering everything upfront saves time and frustration. Before you begin the registration process, prepare the following:

• Proposed business name with 2-3 alternatives in case your first choice conflicts with an existing registration

• Business activity description explaining what your business does (be specific, as this is difficult to change later)

• Ontario business address where you'll conduct operations

• Personal information for all registrants, including full legal name, residential address, and date of birth

• Payment method such as credit card, debit card, or bank account for online payment

• Ontario Corporation Number if you're adding a trade name to an existing corporation

You'll also need to create an account to access the Ontario Business Registry. You can use either a My Ontario Account or a ServiceOntario account. Both work, but My Ontario Account is the newer system the province is transitioning toward. If you already have a ServiceOntario account from renewing your driver's licence or health card, that works too.

Step-by-Step Guide to Registering Your Business in Ontario

Step 1: Search for Name Availability

Start by checking whether your desired business name is available. The Ontario Business Registry offers a free preliminary name search that shows existing registrations with similar names.

Keep in mind that this search only covers Ontario business name registrations, not federal corporations or trademarks. A clear search result doesn't guarantee your name won't conflict with other businesses, but it helps you avoid obvious duplicates.

Tips for choosing a strong business name:

• Avoid names nearly identical to existing registrations

• Consider how your name will appear in alphabetical listings

• Check that matching domain names and social media handles are available

• Ensure the name accurately reflects your business activities

Step 2: Create Your Ontario Business Registry Account

Navigate to the Ontario Business Registry and create your account. During this process, you'll receive a company key, a unique identifier you'll need for all future transactions related to your registration.

Save your company key securely. Without it, you'll face delays when renewing, amending, or cancelling your registration. Store it alongside other important business documents, and consider keeping a backup in a secure digital location.

Step 3: Complete the Registration Application

With your account created, you can begin the actual registration. The application asks for:

• Your business structure (sole proprietorship, partnership type, or corporation trade name)

• Your proposed business name

• A description of your business activities

• Information about all registrants (individuals or corporations involved in the business)

• Your business address

Take your time with the business activity description. This field should clearly explain what your business does, as it becomes part of your public registration record.

Step 4: Pay the Registration Fee

After reviewing your application, you'll proceed to payment. For most business structures, the fee is $60. Limited partnerships pay $210 due to additional registration requirements.

The Ontario Business Registry accepts credit cards, debit cards, and bank account payments. Keep your payment confirmation for your records.

Step 5: Receive Your Business Identification Number (BIN)

Online registrations process immediately. Upon successful payment, you'll receive your Business Identification Number (BIN) and can download your registration documents right away.

Your BIN is your provincial registration identifier. You'll use it when dealing with provincial agencies and may need to provide it when opening business accounts or applying for permits.

Understanding Key Terms: BIN vs. BN and Other Essentials

The alphabet soup of business identifiers confuses many new business owners. Here's what each term means:

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The critical distinction: your BIN is provincial, while your Business Number (BN) is federal. Registering your business name in Ontario does not register you with the CRA. If you need to collect GST/HST, run payroll, or import goods, you must register separately with the CRA to obtain a Business Number.

How to Renew Your Master Business Licence

Your business name registration is valid for 5 years from the date of registration. The Ontario Business Registry sends renewal reminders, but don't rely on them alone.

Renewal timeline:

• You can renew up to 60 days before your registration expires

• A 60-day grace period exists after expiry

• If you miss the grace period, your registration expires completely, and you must re-register with a new BIN

To renew:

• Log into the Ontario Business Registry with your company key

• Select your business from your account dashboard

• Choose the renewal option

• Verify your information is current and update if needed

• Pay the renewal fee ($60 for most structures)

Set a calendar reminder for 90 days before your registration expires. This gives you plenty of time to renew without risking expiration.

How to Cancel, Amend, or Get a Copy of Your Registration

Cancellation is free and straightforward through the Ontario Business Registry. You might cancel if you're closing your business or changing to a different structure that requires new registration.

Amendments are required within 15 days of any changes to your registration details. You can update your address and registrant information online. However, changing your business name or structure requires a new registration rather than an amendment.

Getting copies of your registration documents is easy. Log into the Ontario Business Registry with your company key to access and download your documents anytime. Certified copies are available for a fee if you need official documentation for legal or banking purposes.

What Registration Does NOT Cover (Next Steps After Registration)

Registering your business name is one milestone, not the finish line. You'll likely need to address several additional requirements:

• Municipal business licences: Many municipalities require separate operating licences. Use the BizPaL tool to identify requirements in your area.

• CRA Business Number: Required for GST/HST collection, payroll, and import/export activities.

• WSIB registration: Mandatory if you have employees in most industries.

• Professional licences: Industry-specific requirements for regulated professions.

• Business insurance: Protects your business from liability and other risks.

• Business bank account: Separates personal and business finances.

Opening a dedicated business bank account ranks among the most important steps after registration. It separates your personal and business finances, simplifies tax preparation, and establishes credibility with customers and suppliers.

Venn offers Canadian businesses local CAD and USD accounts with CDIC protection, free unlimited Interac e-Transfer® transactions, and competitive foreign exchange rates. Whether you're a newly registered sole proprietorship or an established partnership, having the right financial infrastructure from day one supports your growth.

Common Mistakes to Avoid When Registering Your Business

Learning from others' missteps saves you time and headaches:

Assuming your name is protected. Business name registration doesn't prevent someone from incorporating a company with a similar name or registering a trademark. If name protection matters to your business, consider trademark registration.

Confusing BIN with BN. Your provincial BIN and federal Business Number serve different purposes. Don't assume registering in Ontario covers your CRA obligations.

Losing your company key. Without your company key, you can't access your registration online. Store it securely from day one.

Choosing the wrong business structure. Each structure has different tax implications, liability considerations, and administrative requirements. Consult with an accountant or lawyer before registering if you're uncertain.

Forgetting to renew. Missing your renewal window means losing your BIN and starting over. Calendar reminders are your friend.

Delaying updates. Ontario law requires you to update your registration within 15 days of any changes. Outdated information can create problems when you need official documentation.

Frequently Asked Questions

Q: How much does it cost to get a Master Business Licence in Ontario?

A: The cost depends on your business structure. Sole proprietorships, general partnerships, and LLPs cost $60. Limited partnerships cost $210. These fees apply to both initial registration and renewal.

Q: How long does it take to get a Master Business Licence?

A: Online registration through the Ontario Business Registry is processed immediately. You receive your Business Identification Number (BIN) and registration documents right after successful payment.

Q: How long is a Master Business Licence valid?

A: Your business name registration is valid for 5 years from the date of registration. You can renew up to 60 days before expiry, with a 60-day grace period after expiry.

Q: Can I operate a business in Ontario without registering?

A: You can operate as a sole proprietor using your exact legal name without registering. However, if you want to use any other business name, or if you're operating as a partnership, registration is required by law.

Q: What's the difference between a BIN and a Business Number?

A: A BIN (Business Identification Number) is your Ontario provincial registration identifier. A Business Number (BN) is issued by the Canada Revenue Agency for federal tax purposes. You may need both, but they serve different purposes.

Q: How do I get a copy of my Master Business Licence?

A: Log into the Ontario Business Registry using your company key to access and download your registration documents. You can also order certified copies through the registry for a fee.

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**Disclaimer:** This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Venn Software Inc or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.