You can use a different name to conduct business. With a word name, you have the legal right to use it across Canada once Corporations Canada approved your name.
To get a word name, make sure to choose custom incorporation when you start incorporating online. If you are incorporating a small, private business, consider choosing basic incorporation. This pre-packaged incorporation option takes the guesswork out of this step, and your corporation will have:. Alternatively, you can customize your articles of incorporation to suit your specific business needs. In this case, choose custom incorporation and specify:. The registered office is where you must keep your corporate records and where official documents will be served on the corporation.
Choose an address where you will be sure to receive any documents sent there since, legally, they will be assumed to have been received by the corporation. You also need to decide who will make up your corporation's board of directors. Check the Director requirements to make sure your directors meet the eligibility criteria. When you incorporate, you have to disclose each director's first name, last name, address, and indicate whether or not they are a resident Canadian.
This is important if you expand your business to multiple provinces or territories and want to use the same name.
Your official business address can be anywhere in Canada, and you can hold annual meetings digitally and anywhere in the world. Corporations can borrow money at lower rates. They can also raise money by selling shares or bonds to investors called shareholders.
Corporate tax rates are generally lower than personal income tax rates. Shareholders are not responsible for a corporation's debts. If your corporation goes bankrupt, your shareholders only lose up to what they invested. Corporations have the same rights as a real person, including owning property, getting loans, and entering into contracts.
Corporations live on until they wind up, amalgamate, or give up their charter for example, when they go bankrupt.
With other business structures, a business stops existing when the owner dies. Incorporating your business creates a new legal entity, called a corporation. Transcription — Federal incorporation [A woman business owner is standing in her pho enterprise, with a man and child at her side.
Key: More than 40, new incorporations per year Simple, fast, painless] Narrator: We are Corporations Canada, and we help over 40, businesses become federally incorporated every year, making the process simple… fast… and painless. Key: Operate under one unique name nationally] Narrator: So why incorporate with Corporations Canada? Key: Lower tax rates] Narrator: You'll most likely lower your tax rate. Key: Limited liability] Narrator: You will be able to limit your liability.
Key: Easier access to financial support] Narrator: And… you may enjoy easier access to financing. Look up B. School District Business Company forms for filing. Records filed by corporations can be accessed by the public for a small fee. Find out how to submit a search request.
Financial statements, meeting minutes and information about shareholders or share certificates are not part of filed records. You can request this information by contacting the company.
Two or more corporations can amalgamate to become a new company. Companies must be up to date with annual report filings. Amalgamation with a community contribution company is only allowed if the end result is an amalgamated community contribution company. It would be best to seek legal advice before amalgamating.
Read about amalgamation in the Business Corporations Act to determine the type of amalgamation that applies to your situation. Find out more about long-form or short-form amalgamation: Government of Canada: Guide on amalgamating business corporations.
If amalgamating corporations don't meet criteria for a short-form amalgamation, they need to complete the following steps to amalgamate:. A cheque or money order should be made payable to the Minister of Finance. If an extraprovincial out-of-province company is part of an amalgamation and the resulting company will carry on business in B.
A Notice of Amalgamation should also be filed within 2 months of the amalgamation. Step 1: If the resulting amalgamated company does not already have an approved business name in B. Companies must have their name approved and confirm it's not being used by another business.
If you cannot file online complete complete a paper form and submit it along with payment using the instructions on the form. Make cheques payable to the Minister of Finance.
Check with the service provider regarding additional fees. The remainder must be transferred to a charity or other asset-locked community entity. Dissolution by the Registrar. COVID update: At the discretion of the Registrar, corporations will not be dissolved for not filing annual reports for 2 years.
A corporation may be dissolved if they don't file an annual report for 2 consecutive years or doesn't file any other return, notice of document required by the Act. Request a delay of dissolution.
If your corporation receives notice of dissolution but would like to continue operating, request a delay of dissolution or cancellation through Corporate Online. A company can apply for a limited restoration or reinstatement so that legal transactions can be completed i. A company may be restored for a limited period up to a period of 2 years. At the end of the limited restoration period, the company is automatically dissolved.
For limited restoration, follow the steps and complete the checklist in one of the following information packages:. For limited restoration of a benefit company, contact BC Registries at or A company may apply for a full restoration or reinstatement if it intends to continue doing business in the future.
A full restoration by the registrar is the most common type of restoration and is used when a company has been doing business without realizing that it has been dissolved for not filing an annual report for two consecutive years.
With this option, the company is fully restored and continues carrying on business as though it was never dissolved. For full restoration, follow the steps and complete the checklist in one of the following information packages:. If a dissolved company holds an asset and only needs to transfer out an asset e.
Contact the Escheats Office at for an information package. Register as an extraprovincial company in B. A company incorporated outside the province may register to operate in B. It's best to seek legal advice to ensure your company meets all the requirements for doing business in B. To register a benefit company as an extraprovincial company, contact BC Registries at or Companies from Alberta, Saskatchewan or Manitoba can follow the simplified approach to registering an extraprovincial out-of-province company and keeping records up to date in B.
Companies must have their name approved and confirm it's not being used by another company. Enter the name exactly as it appears on the Certificate of Incorporation. For example, include the period after Inc. Here are some examples of using the incorporation number as the company name:.
Companies that have their name rejected will need to adopt an assumed name for use in B. Then, send a cover letter with the name undertaking attached. See a sample of an assumed name undertaking PDF, Companies formed outside of Canada with a name conditionally approved to register to operate in B. The certificate must be dated within the last year and must be received by BC Registries before proceeding with online registration.
Email the certificate with the name approval number to: consent. Once the proof of existence is processed, the company name is approved and reserved.
If you cannot file the application electronically, complete the Extraprovincial Company Registration Statement PDF, KB or ask a lawyer, notary or other service provider to submit it for you. Your company is extraprovincially registered as soon as you have paid.
You will receive the following documents by email or mail, depending on the notification method selected:. You will need the registration number when you file other documents with us. Business number. If the name is not available, reserve and adopt an assumed name for use in B. Prepare a cover letter with the name undertaking attached.
Move an out-of-province company into B. A company incorporated outside the province may decide to continue into B. It's best to seek legal advice to ensure your company meets all the requirements for conducting business in B.
You can choose to reserve the company's current name, request and reserve a new name or continue as a numbered company. If you're using the company's current name, enter it exactly as it appears on the Certificate of Incorporation. Have a letter of authorization to continue operations in B. Email documents to: consent. If the company was incorporated outside of Canada, a certificate of existence from the home jurisdiction is also required.
If the company is an Alberta unlimited liability company ULC , a director affidavit or court order is also required. If you cannot file the application electronically, complete one of the following forms or ask a lawyer, notary or other service provider to submit the forms for you:.
If you're using the incorporation number as the company's name, complete one the forms above and follow instructions on the form to submit it along with payment and the letter of authorization form from Step 2. A company incorporated in B. Community contribution companies in B. This means the company has kept up to date with annual report filings and has met the requirement for the number of directors.
If your company has outstanding filings, submit them through Corporate Online. Make your cheque or money order payable to the Minister of Finance. Include the name and address of the person who is to receive the letter of authorization issued by the registrar. Once the form is filed, you will receive a letter authorizing the company to continue operations outside of B.
The authorization expires six months after the date the letter of authorization is issued. Note: Under section of the Act , a company must not continue operating in another jurisdiction unless the laws of that jurisdiction provide for the provisions listed in item D of the Continue Out Application form PDF, KB. Once the company has continued into the new jurisdiction, file a copy of the the document e.
Email the document to: BCRegistries gov. File as soon as possible to confirm the continuation. There is no fee for filing. Once the record has been filed, public notice will be published indicating that the company has continued out of the province under the Corporate Registry notices on the BC Laws website.
The registry does not provide business or legal advice. Email: BCRegistries gov. Business Corporations Act. Business Corporations Regulation. Federal incorporation. Corporate information packages. Comments will be sent to 'servicebc gov.
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