Book Your FREE Consultation. Incorporation in Canada: Where Can You Incorporate? Incorporate BC answers your questions on incorporating in BC, benefits of incorporating, how to incorporate, the cost to incorporate in BC, and so much more. We can help you select the best structure to maximize your benefit from incorporation. If you reside outside of Canada and you are thinking of incorporating in Canada this is the package for you. Connecting business owners with business lawyers to improve the strength of BC's corporations. Below are the basic steps for forming (incorporating) a company in B.C. Canadian businesses can be incorporated at the federal or the provincial level - and I'll go over the details on that further down. Federal incorporation gives a company the right to operate under its corporate name throughout Canada. 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. A number name corporation can be completed same day, once information and payment are received and confirmed. Please visit our non-resident incorporation page to read more about how you can incorporate in BC, Canada. © 2005 - 2020, INC Business Lawyers. It is important to recognize all of the steps that go into incorporating your business. How long does it take to receive confirmation of my registration or changes to my registration in Alberta? 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: If there are many Members, appointing Managers is a wise thing in order to control the structure (and spending) of the LLC. Who will have rights to the liquidated assets of the company if it is dissolved? How long will it take to Incorporate in Alberta? The amount of time an individual state takes can vary widely depending on such external factors as the time of year, the state of the economy, the particular state's backlog compared to its staffing, etc. A company can apply for a limited restoration or reinstatement so that legal transactions (i.e. Permanent link to page: Copy Cancel . Directors and officers must be legal adults. There's certainly 50 ways to do that. Written by Incorporate BC on August 18, 2016.Posted in FAQ. How long does it take you to incorporate an BC in the BVI? Read More. 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. 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. All rights reserved. (known as an extraprovincial company) may also register to conduct business in B.C. 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). Undertaking the process of incorporation by yourself is an excellent way to save the cost of hiring a corporate lawyer. What questions should I ask myself when structuring my incorporated company? Also, there is an option to expedite the process for fee, and that will shorten your wait time a few days. If one of the names you submit is accepted, the Registry will reserve it … Common or popular words are often rejected. Incorporate an unlimited liability company; Incorporate a community contribution company; Extraprovincial Registrations. Looking to incorporate your business in the best way for you? 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 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. Can I incorporate myself? A company that has been incorporated outside of B.C. Starting a Non-Resident Business in Canada Is Possible. 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. For provincial incorporation details go to: or for federal incorporation details go to: Home | About the Firm | Lawyer Profiles | Blog | Links | Legal | Privacy | Site Map | Contact Us | Meta. I'm not talking about killing your business -- about running it into the ground, deliberately or unintentionally. Steps to Closing Your Nonprofit Organization. Call TOLL FREE: 1-888-272-7771 (Canada & US), Added Bonus: - Easy access off Highway 99 - Lots of. Provide the street address in British Columbia for the company's registered office. Under the BC Business Corporations Act, there are no residency requirements for a company's directors. Extras not included in the above price (but please ask): Please do not hesitate to contact us if you have any questions, or continue to our Incorporation Information Form now. Corporate Registry Email: BCRegistries@gov.bc.ca. FURTHER READING… Learn about corporations. Registry. Note: You may choose a numbered name for your corporation for faster filing results. It is now technically possible to incorporate overnight. You can later change to a named corporation, though at some extra cost. How long does it take to incorporate a Delaware C-corp? * Connect With Us. Before incorporating a named company in BC, a name reservation must first be obtained. INC Business Lawyers makes it easy. A company can also choose to use as its name, the incorporation number of the company followed by “B.C. https://www.incorporatebc.ca/how-long-does-it-take-to-incorporate Approvals are valid for 56 days, and can be renewed (at further cost) if they expire. First, you must submit a name request with the B.C. 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 … We are business start-up lawyers who can help your business succeed. The government automatically assigns your new company the next corporation number. Courier: 200 - 940 Blanshard Street Victoria BC V8W 3E6. 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 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. outstanding taxation issues, removing or transferring assets or insurance on vehicles left in the company name) can be completed. What Goods and Services Are GST/HST Exempt or Zero-Rated in Canada? Learn More from Incorporate BC. Choices range from a simple one-class structure to structures with two or more classes of shares, and a variety of share special rights. Our company provides free consultations for all non-residents, who is planning to start your business in Canada. Ltd.) 0 0. Will certain people have options to purchase the company’s shares at a later time. BC allows submission of up to three alternate names for the corporation in order of preference. Post office box numbers are not allowed. Posted in FAQ. The Members can appoint Managers to run the company on a day to day basis. read more . How long does it take to start a California corporation? 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. How Long Will You Wait for a Canadian Tax Refund? 5 Steps to Running Payroll in Canada . Regardless of whom you incorporate with, the time the state takes to process the Articles will be the same. 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. For each person who will be a director, officer or shareholder in the corporation, supply the full name (first, middle, last – just as printed in a person's birth certificate or valid driver's license or passport) and full street address (not post office box). for non-residents who want a Canadian corporation! What will require unanimous consent between shareholders? Typically it can take from two to three weeks (or sometimes even twice that long). Filing timelines vary according to the provincial or federal government processing times. Incorporation does not just involve filling out a simple form. This makes BC the Best Choice Who will be the directors of the company? A lawyer will guide you through the process of structuring your company, which will require decisions to be made such as: These sorts of questions will allow the lawyer to structure the shares, discuss the possible advantages of a shareholders’ agreement with you, subscribe people for shares and produce the various share certificates and other documents that are required under the law in British Columbia. Does Your Canadian Business Need to Charge the GST/HST? 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. 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. You also may incorporate online through a service provider under contract with the Ontario Ministry of Government and Consumer Services. A continuation is the term used when a company wants to cease doing … Please tell us you need this service when you order your BC company. Decide upon a suitable share structure. Book a free consultation with us to incorporate in Vancouver, BC … A company may be restored for a limited period up to a period of two years. If your articles are dropped off or mailed, it could take as long as 4 weeks for them to process. Ready to start? 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. 1. Ontario: The cost to incorporate in Ontario is $360 if you incorporate in person or by mail. 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… Filing times vary based on your filing method. Ask us any question using the form below and we will get back to you within 2 business days. Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? How to Register a … All this for Only $795.00 CAD (taxes included!). Name reservation. Post office box numbers are not allowed. During most times of the year, expect a two or three business day turnaround from the examination department. It costs $100 plus the regular service fee, and the service standard is 4 business hours (online) and 1 business day (by email or mail). As in love, so in business: sometimes you have to get rid of your own corporation. Most of our business is done by e-mail and phone. Read More. 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. What is included if I decide to incorporate with one of your business lawyers? Provide the street address in British Columbia for the company's registered office. The share structure is especially important if you plan on paying yourself with dividends. How to incorporate a business. Dana and Paul are correct that it will take about a week once all of the necessary paperwork is filed. 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 . The designations all have the same meaning: that the entity is a corporation with limited liability for its shareholders. Incorporate Your Business from $49 - FREE Registered State Agent Order in 5 minutes or less. Back to Top. A well-designed business structure saves you tax and saves you money. For more information on the differences between federal and provincial incorporation, please refer to the article on Selection of Corporate Jurisdiction. Will the company have a right to purchase someone’s shares? Incorporating will take (usually) three or four business days, once we have full information and payment from you. 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. We now offer an express service for a number of business corporation services. Who will have a say in deciding what the company does? 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. Keep reading or incorporate now. Incorporating your company federally is a four-step process. BC corporations do not require that any directors (or shareholders) reside in Canada. Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? How to incorporate a society in B.C. (Does not include a full NUANS search, a computerized algorithm search, which can be ordered as an extra. During most times of the year, expect a two or three business day turnaround from the examination department. If you are able to come to our office, though, we would enjoy meeting with you. How Long Does it Take to Incorporate a Business? 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. 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. In BC, there are three choices of legal ending: Limited (Ltd.), Corporation (Corp.) or Incorporated (Inc.). Subject to how busy the lawyer is at any particular time, this entire process can take place in under a week. Depending where you incorporate, it can be anywhere from a few days to a few weeks to complete your registration. If you are a non-Canadian resident and would like to incorporate in Canada incorporation in BC is the best option for you. Corporations where one person is the sole shareholder, director, and officer are allowed, and very common. Written by Incorporate BC on August 20, 2016. Watch This Video to Learn More. BC allows submission of up to three alternate names for the corporation in order of preference. Approvals are valid for 56 days, and can be renewed (at further cost) if they expire. Download our Incorporation Information form now. How long does it take to incorporate? What Is the Canadian Harmonized Sales Tax (HST)? Incorporate BC helps businesses with incorporating in Vancouver, BC. How to incorporate a limited liability company in B.C. Can I incorporate myself? Incorporate BC connects business owners with local corporate lawyers to help them with incorporating their business. Foreign entrepreneurs and businesses can incorporate a subsdiary corporation for their Canadian operations, either federally or provincially. 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