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. 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. Who will have a say in deciding what the company does? INC Business Lawyers makes it easy. Copyright © 2021 Incorporate BC | Incorporating in BC, Vancouver BC Incorporation |. Ask us any question using the form below and we will get back to you within 2 business days. What will happen to someone’s shares if they die? © 2005 - 2020, INC Business Lawyers. Federal incorporation gives a company the right to operate under its corporate name throughout Canada. We pride ourselves on educating Vancouver business owners on incorporating and structuring their businesses. Book a free consultation with us to incorporate in Vancouver, BC … Provide the street address in British Columbia for the company's registered office. Please visit our non-resident incorporation page to read more about how you can incorporate in BC, Canada. 1. Looking to incorporate your business in the best way for you? How to incorporate a limited liability company in B.C. How Long Does it Take to Incorporate a Business? Read More. Directors and officers must be legal adults. Incorporate BC connects business owners with local corporate lawyers to help them with incorporating their business. Note: You may choose a numbered name for your corporation for faster filing results. The designations all have the same meaning: that the entity is a corporation with limited liability for its shareholders. Written by Incorporate BC on August 20, 2016. 0 0. What Goods and Services Are GST/HST Exempt or Zero-Rated in Canada? Will the company have a right to purchase someone’s shares? Incorporating your company federally is a four-step process. Those documents will be needed to open the corporate bank account. Post office box numbers are not allowed. We connect business owners with reputable corporate lawyers in Vancouver who will answer all your questions and make sure you choose the right option for BC incorporation. Subject to how busy the lawyer is at any particular time, this entire process can take place in under a week. If your articles are dropped off or mailed, it could take as long as 4 weeks for them to process. During most times of the year, expect a two or three business day turnaround from the examination department. How to Incorporate a Business in British Columbia by yourself. How long will it take to Incorporate in Alberta? for standard Canadian Federal incorporations. Does Your Canadian Business Need to Charge the GST/HST? Who will have rights to the liquidated assets of the company if it is dissolved? Under the BC Business Corporations Act, there are no residency requirements for a company's directors. Registry. Choices range from a simple one-class structure to structures with two or more classes of shares, and a variety of share special rights. You also may incorporate online through a service provider under contract with the Ontario Ministry of Government and Consumer Services. 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. Learn More from Incorporate BC. A company can also choose to use as its name, the incorporation number of the company followed by “B.C. How do I compare a sole proprietorship to a company in British Columbia? Typically it can take from two to three weeks (or sometimes even twice that long). The Members create an Operating Agreement, which can be as long or short as the Members want, and which sets out all the rules of the company. Back to Top. Before incorporating a named company in BC, a name reservation must first be obtained. Ready to start? BC allows submission of up to three alternate names for the corporation in order of preference. 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. Best Answers. If one of the names you submit is accepted, the Registry will reserve it … There's certainly 50 ways to do that. 5 Steps to Running Payroll in Canada . Download our Incorporation Information form now. If you are able to come to our office, though, we would enjoy meeting with you. A well-designed business structure saves you tax and saves you money. 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. Filing timelines vary according to the provincial or federal government processing times. 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). Provide the street address in British Columbia for the company's registered office. Filing times vary based on your filing method. 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). Steps to Closing Your Nonprofit Organization. (known as an extraprovincial company) may also register to conduct business in B.C. Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? Watch This Video to Learn More. Register an extraprovincial company; Continuations. Keep reading or incorporate now. Courier: 200 - 940 Blanshard Street Victoria BC V8W 3E6. How to incorporate a society in B.C. 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. 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. Undertaking the process of incorporation by yourself is an excellent way to save the cost of hiring a corporate lawyer. 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. Also, there is an option to expedite the process for fee, and that will shorten your wait time a few days. Most of our business is done by e-mail and phone. You can later change to a named corporation, though at some extra cost. Before incorporating a named company in BC, a name reservation must first be obtained. BC allows submission of up to three alternate names for the corporation in order of preference. Download our Incorporation Information form now. Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? How to Incorporate in BC. It won't leave; so you have to do something to it. They may also choose to carry on business in Canada through a branch office. The government automatically assigns your new company the next corporation number. Can I incorporate myself? New express service available. 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. Depending where you incorporate, it can be anywhere from a few days to a few weeks to complete your registration. 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. * Connect With Us. It is now technically possible to incorporate overnight. Book Your FREE Consultation. How long does it take to incorporate a Delaware C-corp? Posted in FAQ. Getting a named company incorporated to the point of existence takes usually four or five business days once we receive complete incorporation instructions. Connecting business owners with business lawyers to improve the strength of BC's corporations. (Does not include a full NUANS search, a computerized algorithm search, which can be ordered as an extra. Ontario: The cost to incorporate in Ontario is $360 if you incorporate in person or by mail. What questions should I ask myself when structuring my incorporated company? 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. Corporations where one person is the sole shareholder, director, and officer are allowed, and very common. FURTHER READING… Learn about corporations. A number name corporation can be completed same day, once information and payment are received and confirmed. As in love, so in business: sometimes you have to get rid of your own corporation. The other steps in the incorporation process must be completed and the Incorporation Application must be electronically filed before the 56 day period ends. 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. On this page. If you are a non-Canadian resident and would like to incorporate in Canada incorporation in BC is the best option for you. During most times of the year, expect a two or three business day turnaround from the examination department. Foreign entrepreneurs and businesses can incorporate a subsdiary corporation for their Canadian operations, either federally or provincially. We now offer an express service for a number of business corporation services. 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. Incorporation in Canada: Where Can You Incorporate? 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). Incorporation does not just involve filling out a simple form. 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. How to Register a … 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… All this for Only $795.00 CAD (taxes included!). A company may be restored for a limited period up to a period of two years. I'm not talking about killing your business -- about running it into the ground, deliberately or unintentionally. Decide upon a suitable share structure. This makes BC the Best Choice Post office box numbers are not allowed. How to incorporate a business. It is important to recognize all of the steps that go into incorporating your business. Corporate Registry Email: BCRegistries@gov.bc.ca. BC corporations do not require that any directors (or shareholders) reside in Canada. 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; Below are the basic steps for forming (incorporating) a company in B.C. Incorporate an unlimited liability company; Incorporate a community contribution company; Extraprovincial Registrations. An incorporated business (exact same thing as a corporation) is considered to be a legal entity that is separate from its owners and shareholders. For more information on the differences between federal and provincial incorporation, please refer to the article on Selection of Corporate Jurisdiction. outstanding taxation issues, removing or transferring assets or insurance on vehicles left in the company name) can be completed. 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. Source: quora.com. A company that has been incorporated outside of B.C. 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. 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 At the end of the limited restoration period, the company is automatically dissolved. https://www.incorporatebc.ca/how-long-does-it-take-to-incorporate Who will be the directors of the company? for non-residents who want a Canadian corporation! Read More. What Is the Canadian Harmonized Sales Tax (HST)? What will require unanimous consent between shareholders? How long does it take to start a California corporation? Approvals are valid for 56 days, and can be renewed (at further cost) if they expire. 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. Approvals are valid for 56 days, and can be renewed (at further cost) if they expire. Name reservation. Incorporate BC helps businesses with incorporating in Vancouver, BC. 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: The Members can appoint Managers to run the company on a day to day basis. Once the Alberta Registry receives the information, they will issue the confirmation with 24 to 48 hours. Please tell us you need this service when you order your BC company. Some years ago, Paul Simon wrote the song "50 ways to leave your lover". First, you must submit a name request with the B.C. Call TOLL FREE: 1-888-272-7771 (Canada & US), Added Bonus: - Easy access off Highway 99 - Lots of. Incorporating will take (usually) three or four business days, once we have full information and payment from you. INC Business Lawyers provides registered office services to keep these filings and their supporting documents, the annual shareholder and director resolutions, up to date. ... PO BOX 9431 STN PROV GOVT VICTORIA BC V8W 9V5. 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. read more . If you reside outside of Canada and you are thinking of incorporating in Canada this is the package for you. We are business start-up lawyers who can help your business succeed. Incorporate Your Business from $49 - FREE Registered State Agent Order in 5 minutes or less. Our company provides free consultations for all non-residents, who is planning to start your business in Canada. Ltd.” (example, 0123456 B.C. Starting a Non-Resident Business in Canada Is Possible. Can I incorporate myself? Common or popular words are often rejected. What is included if I decide to incorporate with one of your business lawyers? 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 . A continuation is the term used when a company wants to cease doing … 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. Canadian businesses can be incorporated at the federal or the provincial level - and I'll go over the details on that further down. An overview of what a C corp is, the advantages and disadvantages, and how to incorporate. If there are many Members, appointing Managers is a wise thing in order to control the structure (and spending) of the LLC. In BC, there are three choices of legal ending: Limited (Ltd.), Corporation (Corp.) or Incorporated (Inc.). What is included if I decide to incorporate with one of your business lawyers? Dana and Paul are correct that it will take about a week once all of the necessary paperwork is filed. We can help you select the best structure to maximize your benefit from incorporation. ), Duplicate certificate of incorporation, notice of articles and your incorporation application, sent by email, shortly after incorporation, shipping corporate records book outside Canada or continental USA, ordering and shipping a corporate seal (usually not needed, but useful for some), extraprovincial registration in a province outside British Columbia (where needed for your purposes). All you need to do is fill out our website form. All rights reserved. Appointing corporate officers is entirely optional, although one or more directors are required. How long does it take to receive confirmation of my registration or changes to my registration in Alberta? How Long Will You Wait for a Canadian Tax Refund? 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. How long does it take you to incorporate an BC in the BVI? How long does it take to incorporate? 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. Will certain people have options to purchase the company’s shares at a later time. 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. 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