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how long does it take to incorporate in bc

January 21, 2021


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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). Under the BC Business Corporations Act, there are no residency requirements for a company's directors. What questions should I ask myself when structuring my incorporated company? 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. What Goods and Services Are GST/HST Exempt or Zero-Rated in Canada? During most times of the year, expect a two or three business day turnaround from the examination department. Once the Alberta Registry receives the information, they will issue the confirmation with 24 to 48 hours. 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. Can I incorporate myself? INC Business Lawyers provides registered office services to keep these filings and their supporting documents, the annual shareholder and director resolutions, up to date. If you are a non-Canadian resident and would like to incorporate in Canada incorporation in BC is the best option for you. Post office box numbers are not allowed. Post office box numbers are not allowed. Will certain people have options to purchase the company’s shares at a later time. How to incorporate a business. FURTHER READING… Learn about corporations. How to Incorporate a Business in British Columbia by yourself. A company that has been incorporated outside of B.C. Ltd.) What will require unanimous consent between shareholders? 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 … Approvals are valid for 56 days, and can be renewed (at further cost) if they expire. Watch This Video to Learn More. Will the company have a right to purchase someone’s shares? © 2005 - 2020, INC Business Lawyers. First, you must submit a name request with the B.C. How long does it take to start a California corporation? Ask us any question using the form below and we will get back to you within 2 business days. Please tell us you need this service when you order your BC company. All rights reserved. Federal incorporation gives a company the right to operate under its corporate name throughout Canada. The designations all have the same meaning: that the entity is a corporation with limited liability for its shareholders. A number name corporation can be completed same day, once information and payment are received and confirmed. Incorporating will take (usually) three or four business days, once we have full information and payment from you. Call TOLL FREE: 1-888-272-7771 (Canada & US), Added Bonus: - Easy access off Highway 99 - Lots of. We pride ourselves on educating Vancouver business owners on incorporating and structuring their businesses. 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 … Connecting business owners with business lawyers to improve the strength of BC's corporations. In BC, there are three choices of legal ending: Limited (Ltd.), Corporation (Corp.) or Incorporated (Inc.). The Members can appoint Managers to run the company on a day to day basis. How Long Does it Take to Incorporate a Business? Registry. Ready to start? How long does it take to incorporate a Delaware C-corp? Source: quora.com. Written by Incorporate BC on August 18, 2016.Posted in FAQ. Filing timelines vary according to the provincial or federal government processing times. What is included if I decide to incorporate with one of your business lawyers? How Long Will You Wait for a Canadian Tax Refund? Typically it can take from two to three weeks (or sometimes even twice that long). Incorporate BC connects business owners with local corporate lawyers to help them with incorporating their business. If you reside outside of Canada and you are thinking of incorporating in Canada this is the package for you. It is now technically possible to incorporate overnight. If you are able to come to our office, though, we would enjoy meeting with you. INC Business Lawyers makes it easy. 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. How long will it take to Incorporate in Alberta? Subject to how busy the lawyer is at any particular time, this entire process can take place in under a week. 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. Book Your FREE Consultation. If your articles are dropped off or mailed, it could take as long as 4 weeks for them to process. 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… 0 0. They may also choose to carry on business in Canada through a branch office. Incorporating your company federally is a four-step process. There's certainly 50 ways to do that. New express service available. 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. If one of the names you submit is accepted, the Registry will reserve it … How do I compare a sole proprietorship to a company in British Columbia? BC corporations do not require that any directors (or shareholders) reside in Canada. 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). 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. Undertaking the process of incorporation by yourself is an excellent way to save the cost of hiring a corporate lawyer. Ltd.” (example, 0123456 B.C. (Does not include a full NUANS search, a computerized algorithm search, which can be ordered as an extra. What Is the Canadian Harmonized Sales Tax (HST)? Corporate Registry Email: BCRegistries@gov.bc.ca. Book a free consultation with us to incorporate in Vancouver, BC … Who will have a say in deciding what the company does? Please visit our non-resident incorporation page to read more about how you can incorporate in BC, Canada. A company can also choose to use as its name, the incorporation number of the company followed by “B.C. Best Answers. All you need to do is fill out our website form. 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. Filing times vary based on your filing method. 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. The share structure is especially important if you plan on paying yourself with dividends. A company can apply for a limited restoration or reinstatement so that legal transactions (i.e. A well-designed business structure saves you tax and saves you money. outstanding taxation issues, removing or transferring assets or insurance on vehicles left in the company name) can be completed. Name reservation. Corporations where one person is the sole shareholder, director, and officer are allowed, and very common. Download our Incorporation Information form now. Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? If there are many Members, appointing Managers is a wise thing in order to control the structure (and spending) of the LLC. Incorporate BC helps businesses with incorporating in Vancouver, BC. https://www.incorporatebc.ca/how-long-does-it-take-to-incorporate Foreign entrepreneurs and businesses can incorporate a subsdiary corporation for their Canadian operations, either federally or provincially. Some years ago, Paul Simon wrote the song "50 ways to leave your lover". 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. 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. Permanent link to page: Copy Cancel . for standard Canadian Federal incorporations. Also, there is an option to expedite the process for fee, and that will shorten your wait time a few days. read more . 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. You also may incorporate online through a service provider under contract with the Ontario Ministry of Government and Consumer Services. 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 … 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 . Approvals are valid for 56 days, and can be renewed (at further cost) if they expire. 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. Ontario: The cost to incorporate in Ontario is $360 if you incorporate in person or by mail. Canadian businesses can be incorporated at the federal or the provincial level - and I'll go over the details on that further down. The other steps in the incorporation process must be completed and the Incorporation Application must be electronically filed before the 56 day period ends. What will happen to someone’s shares if they die? How to Incorporate in BC. 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. We can help you select the best structure to maximize your benefit from incorporation. All this for Only $795.00 CAD (taxes included!). 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. At the end of the limited restoration period, the company is automatically dissolved. 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. 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: What is included if I decide to incorporate with one of your business lawyers? 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. BC allows submission of up to three alternate names for the corporation in order of preference. 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; You can later change to a named corporation, though at some extra cost. Dana and Paul are correct that it will take about a week once all of the necessary paperwork is filed. Common or popular words are often rejected. Those documents will be needed to open the corporate bank account. Can I incorporate myself? I'm not talking about killing your business -- about running it into the ground, deliberately or unintentionally. Who will be the directors of the company? How long does it take to incorporate? Before incorporating a named company in BC, a name reservation must first be obtained. 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. for non-residents who want a Canadian corporation! 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. Posted in FAQ. ... PO BOX 9431 STN PROV GOVT VICTORIA BC V8W 9V5. 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). Note: You may choose a numbered name for your corporation for faster filing results. ), 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). Read More. How to incorporate a limited liability company in B.C. An incorporated business (exact same thing as a corporation) is considered to be a legal entity that is separate from its owners and shareholders. Who will have rights to the liquidated assets of the company if it is dissolved? Provide the street address in British Columbia for the company's registered office. Written by Incorporate BC on August 20, 2016. Starting a Non-Resident Business in Canada Is Possible. Incorporation in Canada: Where Can You Incorporate? Courier: 200 - 940 Blanshard Street Victoria BC V8W 3E6. How long does it take you to incorporate an BC in the BVI? Looking to incorporate your business in the best way for you? Learn More from Incorporate BC. Appointing corporate officers is entirely optional, although one or more directors are required. Steps to Closing Your Nonprofit Organization. Does Your Canadian Business Need to Charge the GST/HST? Back to Top. Decide upon a suitable share structure. The government automatically assigns your new company the next corporation number. (known as an extraprovincial company) may also register to conduct business in B.C. Below are the basic steps for forming (incorporating) a company in B.C. Directors and officers must be legal adults. An overview of what a C corp is, the advantages and disadvantages, and how to incorporate. It is important to recognize all of the steps that go into incorporating your business. * Connect With Us. Read More. Keep reading or incorporate now. 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. Regardless of whom you incorporate with, the time the state takes to process the Articles will be the same. As in love, so in business: sometimes you have to get rid of your own corporation. Incorporation does not just involve filling out a simple form. 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. 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. 1. We now offer an express service for a number of business corporation services. Depending where you incorporate, it can be anywhere from a few days to a few weeks to complete your registration. BC allows submission of up to three alternate names for the corporation in order of preference. Choices range from a simple one-class structure to structures with two or more classes of shares, and a variety of share special rights. Do I need a lawyer to incorporate (ie do I need an Incorporation Lawyer)? 5 Steps to Running Payroll in Canada . A company may be restored for a limited period up to a period of two years. Most of our business is done by e-mail and phone. Incorporate an unlimited liability company; Incorporate a community contribution company; Extraprovincial Registrations. Getting a named company incorporated to the point of existence takes usually four or five business days once we receive complete incorporation instructions. 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. It won't leave; so you have to do something to it. This makes BC the Best Choice Our company provides free consultations for all non-residents, who is planning to start your business in Canada. Before incorporating a named company in BC, a name reservation must first be obtained. During most times of the year, expect a two or three business day turnaround from the examination department. Incorporate Your Business from $49 - FREE Registered State Agent Order in 5 minutes or less. How to incorporate a society in B.C. Register an extraprovincial company; Continuations. We are business start-up lawyers who can help your business succeed. Download our Incorporation Information form now. Copyright © 2021 Incorporate BC | Incorporating in BC, Vancouver BC Incorporation |. For more information on the differences between federal and provincial incorporation, please refer to the article on Selection of Corporate Jurisdiction. Provide the street address in British Columbia for the company's registered office. On this page. 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 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. Looking to incorporate ( ie do I need an incorporation lawyer ) business: sometimes you to... Will be the same meaning: that the entity is a corporation with liability... Have options to purchase the company have a right to purchase the company s... A non-Canadian resident and would like to incorporate a Delaware C-corp entire process can take from two to alternate. Is planning to start your business -- about running it into the ground, deliberately or....! ) call TOLL FREE: 1-888-272-7771 ( Canada & us ), Added Bonus: - Easy off. 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