Completing OMVICs Business Application

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=L0aYGURKgOU

If you are thinking about opening your own dealership in Ontario, you need to register your dealership with OMVIC, and complete their business application form. • 00:00 Intro • 00:10 Who should complete the business application form? • 00:55 Where can I get the OMVIC Business Application form? - https://bit.ly/3BYPejQ • 02:20 A quick overview of what you ll need before completing the form. • 07:36 Completing Section A: General Info • 07:46 Completing Section B: Preconditions to Registration • 08:26 Completing Section C: Business Premises (not require to complete just yet...stay tuned for another video on this) • 09:45 Completing Section D: Eligibility • 11:19 Completing Section E: Business Plan • 17:19 Completing Section F: Business Makeup • ________________________________________ • OVERALL SUMMARY - HOW TO BECOME A DEALER IN ONTARIO • ...STEP 1 - Study and Pass OMVIC'S Certification Course - Go to • Completing OMVIC Dealer Application |... • ...STEP 2 - Complete the Individual Application form - Go to • Completing OMVIC's Individual Applica... • ...STEP 3 - Complete the Business Application form - THIS VIDEO • 1) Pay Fees - Business Application Fee - $500 ; Dealer's Compensation Fund - $324 • 2) Indicate what type of Dealer License you are applying for: General Dealer, Wholesaler, Broker etc. • 3) Indicate business type: Sole Proprietorship, Corporation, Partnership..and • 4) Indicate your HST Number • 5) Must satisfy OMVIC's preconditions • 6) Review Business Premise requirements, but you are not required to provide this info until later, once the other parts of this application have been approved. • 7) Complete and include all INDIVIDUAL APPLICATION(S) • 8) Answer all eligibility questions to OMVIC's satisfaction. Provide signed and dated statements/evidence, if required, to explain certain past or present financial situations you may have experienced. (as per application request) • 9) Explain and provide proof of where your start up capital is coming from. • 10) Explain whether you will be hiring others, and include their names, and what positions they will fill (if any). • 11) Explain how many cars you plan on having, average purchase price, make, year and model. • 12) Provide MVIS License # of the shop that will be doing your Safeties (if you have it), • 13) Set up a new Bank Account in the business' name and provide bank's confirmation. If you are using an existing account, you must supply 3 months worth of bank statements • 14) List all individuals who will occupy the roles of: officer or director, partner, share holders, sole proprietor, or person-in-charge. They must also complete an INDIVIDUAL APPLICATION FORM. • _______________________________________________________ • USEFUL LINKS • Register a Corporation in Canada - https://bit.ly/3k9NvCx • Register for Business Number/HST Number - https://bit.ly/2VC8HYg • Register an Ontario Sole Proprietorship/Limited Partnership/Corporation AND obtain your Master Business License - https://bit.ly/3lcUjOM • Get two free stocks with Wealthsimple - https://bit.ly/3tjPjLQ • #BecomingADealer #OMVIC #Ontario

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