Undertaking the process of incorporation by yourself is an excellent way to save the cost of hiring a corporate lawyer. A company can also choose to use as its name, the incorporation number of the company followed by “B.C. A company that has been incorporated outside of B.C. How long will it take to Incorporate in Alberta? outstanding taxation issues, removing or transferring assets or insurance on vehicles left in the company name) can be completed. Incorporate an unlimited liability company; Incorporate a community contribution company; Extraprovincial Registrations. Watch This Video to Learn More. What is included if I decide to incorporate with one of your business lawyers? A three-element name format is usually the safest choice, especially in BC: distinctive element / descriptive element / legal ending; such as Smith Enterprises Inc. Names with unique first elements are more likely to be approved. Approvals are valid for 56 days, and can be renewed (at further cost) if they expire. During most times of the year, expect a two or three business day turnaround from the examination department. How do I compare a sole proprietorship to a company in British Columbia? Since the 1980s, the number of C corporations has diminished while the total number of pass-through businesses such as S corporations, partnerships, and sole proprietorships has tripled. How long does it take to incorporate? How to incorporate a limited liability company in B.C. How to Register a … Call TOLL FREE: 1-888-272-7771 (Canada & US), Added Bonus: - Easy access off Highway 99 - Lots of. The share structure is especially important if you plan on paying yourself with dividends. Incorporation in Canada: Where Can You Incorporate? Please visit our non-resident incorporation page to read more about how you can incorporate in BC, Canada. There's certainly 50 ways to do that. (Does not include a full NUANS search, a computerized algorithm search, which can be ordered as an extra. Ltd.) Post office box numbers are not allowed. How to Incorporate in BC. On this page. We can act as registered office for the company, Canadian Virtual Office Incorporation Package, Complete Corporate Records book with corporate tabs, certificate of incorporation, notice of articles, corporate articles, registers of shareholders and directors, share certificates, director and shareholder post-incorporation resolutions, director's consents and share subscriptions, Legal advice with respect to forming your BC company, Choice of company structures designed to suit your needs, If requested, a corporate name knock-out search to ensure that you do not infringe on someone else's name from elsewhere in Canada. Source: quora.com. Foreign entrepreneurs and businesses can incorporate a subsdiary corporation for their Canadian operations, either federally or provincially. If I was planning to incorporate this business when I registered it, I might choose a name such as Qualicum Beach Antiques Ltd., including a corporate designation in my business name. What Goods and Services Are GST/HST Exempt or Zero-Rated in Canada? Incorporate Your Business from $49 - FREE Registered State Agent Order in 5 minutes or less. Incorporate BC helps businesses with incorporating in Vancouver, BC. A well-designed business structure saves you tax and saves you money. This makes BC the Best Choice FURTHER READING… Learn about corporations. 504-439 University Avenue, Toronto, ON 402-8815 Ave. du Parc, Montreal, QC 2030-10013 River Dr, Vancouver, BC 3275 Parsons Rd, 2nd Fl, Edmonton, AB Registry. How Long Does it Take to Incorporate a Business? Subject to how busy the lawyer is at any particular time, this entire process can take place in under a week. Infringement can result in a lawsuit against your corporation for damages or cause you to lose the right to use the name you chose for your corporation. In order to open a business bank account using an unincorporated trade name, most banks will require proof that you have registered that trade name with the Corporate Registry. Steps to Closing Your Nonprofit Organization. An incorporated business (exact same thing as a corporation) is considered to be a legal entity that is separate from its owners and shareholders. A company can apply for a limited restoration or reinstatement so that legal transactions (i.e. Post office box numbers are not allowed. How to Incorporate a Business in British Columbia by yourself. We can help you select the best structure to maximize your benefit from incorporation. © 2005 - 2020, INC Business Lawyers. Who will have rights to the liquidated assets of the company if it is dissolved? Permanent link to page: Copy Cancel . BC allows submission of up to three alternate names for the corporation in order of preference. The ministry charges $300 for filing articles of incorporation electronically and you will also have to pay whatever the service provider charges for its online services. Book Your FREE Consultation. Please tell us you need this service when you order your BC company. All this for Only $795.00 CAD (taxes included!). Filing times vary based on your filing method. 5 Steps to Running Payroll in Canada . Provide the street address in British Columbia for the company's registered office. How to incorporate a society in B.C. If you are a non-Canadian resident and would like to incorporate in Canada incorporation in BC is the best option for you. Ltd.” (example, 0123456 B.C. Incorporating will take (usually) three or four business days, once we have full information and payment from you. Will the company have a right to purchase someone’s shares? Ready to start? INC Business Lawyers makes it easy. Incorporate BC connects business owners with local corporate lawyers to help them with incorporating their business. The Registry allows you to submit up to three names, and will choose the first acceptable name that doesn't conflict with an existing company. Incorporating your company federally is a four-step process. Moreover, the BV is still one of the most popular entities to be used as a holding, ... At least 50% of the statutory directors and directors that are authorized to take decisions (i.e. Once the Alberta Registry receives the information, they will issue the confirmation with 24 to 48 hours. How long does it take you to incorporate an BC in the BVI? We can act as registered office for the company for a fee of $250 a year, plus applicable taxes and government filing fees — note that this package also includes the annual maintenance that the BC Registry requires. Our standard BC incorporation package is designed for people who want to make sure that they structure their company properly and to receive high-quality legal advice for how to maximally benefit from incorporation. Best Answers. While the basic procedure for incorporating is the same no matter where you incorporate in Canada, incorporation may be done provincially, giving a company the right to operate under its corporate name in a particular province. Does Your Canadian Business Need to Charge the GST/HST? How long does it take to incorporate a Delaware C-corp? British Columbia is an excellent choice choice for a Canadian corporation because the BC Business Corporations Act allows for non-resident directors and provides more flexibility than any other jurisdiction in Canada. The designations all have the same meaning: that the entity is a corporation with limited liability for its shareholders. read more . How to incorporate a business. New express service available. Under the BC Business Corporations Act, there are no residency requirements for a company's directors. To incorporate a company, you must file the following documents, most of which have to be filed electronically and sent to the Registrar of Companies: Note: You may choose a numbered name for your corporation for faster filing results. It is now technically possible to incorporate overnight. What Is the Canadian Harmonized Sales Tax (HST)? Our company provides free consultations for all non-residents, who is planning to start your business in Canada. Written by Incorporate BC on August 20, 2016. The company is registered within one working day provided all the necessary information is sent to us, and the documents will be ready in 5 to 6 days after that. Directors and officers must be legal adults. Step 1: Name your corporation; Step 2: Create your articles of incorporation; Step 3: Establish the initial registered office address and first board of directors; Step 4: Submit and pay the fee ; Note. While incorporation isn’t legally required, it can bring a certain amount of legal protection for the business owner(s), potentially reduce your tax liability, and offer … What will happen to someone’s shares if they die? Read More. Decide upon a suitable share structure. Corporations where one person is the sole shareholder, director, and officer are allowed, and very common. The government automatically assigns your new company the next corporation number. They may also choose to carry on business in Canada through a branch office. All you need to do is fill out our website form. Federal incorporation gives a company the right to operate under its corporate name throughout Canada. (known as an extraprovincial company) may also register to conduct business in B.C. What questions should I ask myself when structuring my incorporated company? Besides the necessary questions to understand that are described in the frequently asked question “How long does it take to incorporate?”, a corporation needs: Share certificates to evidence ownership of shares in the corporation; Written by Incorporate BC on August 18, 2016.Posted in FAQ. I'm not talking about killing your business -- about running it into the ground, deliberately or unintentionally. Some years ago, Paul Simon wrote the song "50 ways to leave your lover". What will require unanimous consent between shareholders? Appointing corporate officers is entirely optional, although one or more directors are required. An overview of what a C corp is, the advantages and disadvantages, and how to incorporate. Nova Scotia, for instance, has an agreement with New Brunswick; so, if you incorporate a business in one province, it does not have to be registered in the other. Courier: 200 - 940 Blanshard Street Victoria BC V8W 3E6. Can I incorporate myself? Typically it can take from two to three weeks (or sometimes even twice that long). Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? Most of our business is done by e-mail and phone. Those documents will be needed to open the corporate bank account. Incorporation does not just involve filling out a simple form. You are required to apply for restoration by the court if an asset has escheated to the crown, a BC company was dissolved prior to M… INC Business Lawyers provides registered office services to keep these filings and their supporting documents, the annual shareholder and director resolutions, up to date. Who will be the directors of the company? How long does it take to receive confirmation of my registration or changes to my registration in Alberta? A continuation is the term used when a company wants to cease doing … Read More. Connecting business owners with business lawyers to improve the strength of BC's corporations. First, you must submit a name request with the B.C. For more about business name elements and the types of names you are allowed to create for each form of business, see the instructions section of the Name Approval Request Form . There are other steps that must be considered, such as setting up minute or records books, establishing a central securities register and issuing share certificates as well as ongoing reporting requirements such as Annual Reports, Change of Directors, address changes. After its creation date, expect to receive the original incorporation documents from the Corporate Registry in Victoria, BC, about one week later (if you live in the Vancouver area). It is important to recognize all of the steps that go into incorporating your business. Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? 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