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Starting and managing a business can be a stressful and daunting task. But Ownr makes it simple and more affordable for entrepreneurs to start and manage their businesses.
Through their all-in-one platform, new businesses can be easily registered or incorporated, and everyday legal documents created and tailored to a company’s needs.
In this post about Ownr managed corporation plan review, you’ll learn about the features and benefits of the plan, the fees and how to take advantage of the Ownr partnership with RBC.
What is Ownr Managed Corporation Plan?
Ownr started as an online platform that makes business formation straightforward and simple for entrepreneurs. But it has grown to be more than that.
The Ownr managed corporation plan provides all the legal tools and documents necessary for growing businesses to run smoothly.
Making company updates, preparing the company resolutions, issuing and transferring shares and creating legal documents can all be done from a single platform in minutes.
As the company puts it, think of the plan as an “automated legal for growing businesses.”
Some of the features and benefits of the managed corporation plan includes:
- Automated company updates: easily update, generate company resolutions, and handle government filings
- Tailored legal documents: create new documents and agreements in a few steps
- Cost savings: save money through the simple and predictable pricing from Ownr
What is included in the Managed Corporation Plan?
When you incorporate a business through Ownr, you’ll also get the Online Minute Book Plan for free in the first year (renews at $199 per annum afterwards).
The online minute book plan handles some of the ongoing company management like annual compliance, Amendments to Company Name & Structure, Online Minute Book Management, eSignatures and Audit Trails and so on.
The managed corporation plan includes everything in the online minute book plan and other features, such as:
- GST/HST Program Account Registration
- Unlimited Director and Officer Updates
- Annual Return Filings, Shareholder & Director Resolutions, & Waiver of Auditor
- Unlimited user accounts
And many more
You’ll also be able to create several documents necessary to manage your company.
Learn more about the features and benefits on the Ownr website.
There are 3 add-ons to the basic managed corporation plan.
Issuing and transferring shares to new and existing shareholders can be done in a few minutes.
The subscription agreements and Share Transfer agreements are automated. Also, corporate resolutions are automatically created, and all changes are tracked in your cap table.
Managed Employees & Contractors
Tailored employee and contractor agreement for your company. This addon also lets you easily manage and track all your employee information in one easily accessible place.
Need HR policies and other company wide policies, Ownr is planning to add them in the future.
Employee Stock Option Plan
Start an employee stock option plan effortlessly and award options to employees in a few minutes.
All the necessary legal documents are included with the ability to easily handle the on-going management of the plan.
Employees are also able to login to view, track the status and exercise their options.
Ownr Managed Corporation Fees
The basic Ownr Managed corporation plan starts at $599 per annum. That is all you’ll have to pay if you’re an existing business.
For new businesses, the fee is in addition to the incorporation fee which varies depending on your province and whether you’re registering at the federal or provincial level.
But you’ll get a $100 discount on the incorporation fee when you choose a Managed corporation plan.
The pricing for the addons to the basic managed corporation plan are:
- Managed Shareholders: $297/annum for 3 shareholders ($99 for each extra shareholder)
- Managed Employees & Contractors: $99/annum for 3 employees/contractors ($39 extra)
- Employee Stock Option Plan: $999/annum
The great news is you can save some money using an Ownr coupon code to get 15% off the total fees for the first year. Get the discount by clicking the button below.
Also, you can get a $300 refund through the Ownr and RBC partnership. More on that in the next section.
Ownr RBC Offer
The Ownr and RBC partnership lets you save some money when you register your business and open an RBC business bank account.
There are 3 simple steps to claim the refund:
- Register or Incorporate your new business through Ownr’s platform
- Open a new RBC business bank account within 60 days of registering your business
- Login to your Ownr account and click “refund me” on the dashboard.
You should receive the refund in your business deposit account in 7 – 10 days. The refund amount is $89 for sole proprietorships and $300 for incorporations.
Note: The qualifying RBC business bank accounts start at $5 monthly fee for the Digital Account Package.
Is Ownr Managed Corporation Worth it?
With a starting price of $599 annually, the managed corporation plan looks like a big commitment especially when you’re just starting a new business.
But when compared to the alternatives, it is actually a big bargain.
The plan bundles expensive legal agreements under one price, where businesses would normally pay per document through law firms.
For example, Law firms could charge $350+ for 1 change of director, and extra for your annual filings and updating your corporate resolutions.
But Ownr makes it all inclusive and unlimited.
And the best part is, everything is managed and stored digitally from the same platform. So there are no manual tasks like having to file with the government registries separately and updating several documents after changes.
Overall, Ownr estimates that you could save $750+ per year in legal fees and reduce the time you spend on legal tasks by up to 95%.
Is Ownr Safe and Legit?
At the time of writing, Ownr has helped more than 45,000 businesses to register and incorporate in Canada so you’re in good company. Also, it is backed by RBC Ventures so it is very legit.
Ownr uses some of the best encryption and security technologies and follows industry best practices to protect your personal and business legal data.
All data transmitted to Ownr is encrypted both while in transit and on their servers.
There are also regular security tests and Ownr users can use two factor authentication for added security.
Conclusion: Ownr Managed Corporation Review
Whether you’re just starting or already have a growing team, the Ownr managed corporation can save you both money and time.
Even if you have an in-house legal team, the automated documents and workflow, and having everything in a single place will save your team several hours – that’s more time to grow your business.
Overall, Ownr has developed a powerful platform that allows entrepreneurs to start, manage and grow their businesses without the exorbitant fees and stress.
And if you still have questions, you can contact their support team or check their Help Centre for articles on how to get started and get the most out of the platform.
If you liked this Ownr Managed corporation review, also check this post for my full Ownr Review covering its other plans.
Ownr Managed Corporation Review
Ownr Managed Corporation Plan lets entrepreneurs manage their growing businesses with automated legal tools and documents.