Setting up and running your own business has taken a large amount of work. Lots of time, effort and resources have been allocated to get your business off the ground. Now that there is a workflow, and clients are coming in or products are being sold, it may be time to consider incorporating your business. This process may save you yearly tax owing, personal liability and allow you to grow your business.
At the end of the day, it is important to PROTECT YOUR INTERESTS and ensure that if you are considering incorporating, we are there to relieve you from the burden, and ensure that the process runs smoothly. Let us assist you in determining the structure and incorporating your business, setting up your firm’s minute book and the registered office and continue to provide legal support as your company grows.
In Alberta, incorporation under the Business Corporations Act [“BCA”] is performed electronically via the Corporate Registries System.
The following documents must be presented for registration:
- Articles of Incorporation
- Notice of address– Corporation must insure to have a registered office in the province of Alberta and ensure that its registered office and records office are accessible during business hours;
- Notice of directors– Every time directors undergo a change; this document has to be created and it must be filed within 15 days of the change; and
- NUANS search results – An Alberta corporation name consists of three elements – distinctive, descriptive and legal. Once a corporate name is selected, it is important to retrieve an Alberta NUANS report in order to ensure that there is no other corporation with an identical name or a name that is too similar to your proposed corporation name. Unlike business names, identically named corporations are not allowed.
There are three types of corporations that may be formed:
- Corporations with 15 or fewer shareholders – these are the most common corporations in Alberta and have the least amount of regulations
- Corporations with 16 or more shareholders which do not let the general public have any shares – these corporations must prepare shareholders’ lists for business meeting and have more compliance requirements under the BCA.
- Corporations with 16 or more shareholders and issuing shares – this type of corporation is subject to the most regulation and have strict compliance procedures with the Alberta Securities Commission.
After your corporation is setup, we will ensure to manage your firm’s corporate records through the Minute Book , which includes the Certificate of Incorporation, Articles of Incorporation, Bylaws, Notice of directors, Notice of address, Directors’ minutes, Shareholders’ minutes, Shareholders’ register, Register of directors and officers, and securities register.
DIMIC LAW is here to PROTECT WHAT MATTERS MOST.
Legal Problem? Better Call Steve