Register a Corporation in Alberta:
If you are planning to start a business in Alberta, one of the options you have is to register it as a corporation. A corporation is a legal entity that is separate from its owners (shareholders) and has its own rights and obligations. There are many benefits to incorporating your business, such as limited liability, tax advantages, and easier access to financing. However, there are also some costs and responsibilities involved, such as filing Annual Returns, maintaining corporate records, and paying corporate taxes.
In this article, we will explain how to register a corporation in Alberta, what the requirements are, and how much it costs. We will also provide some tips and resources to help you with the process.
- Register a Corporation in Alberta
- What are the Requirments for Registering a Corporation in Alberta
- How to incorporate your Company Do it yourself (DIY) Incorporate with Lawyers Incorporating through Regicorp
- Steps to Incorporate Alberta Corporation
- Named Corporation vs Numbered corporation Named Corporation Numbered Corporation
- Time to register a corporation in Alberta
- Why choose RegiCorp: The best value for your money
- Need help deciding what to do?
What are the Requirements for Registering a Corporation in Alberta?
Before you can register your corporation in Alberta, you need to meet some basic requirements:
Choose a name:
You can add more than one director
You need to choose a unique and distinctive name for your corporation. You can use the NUANS name search for existing corporate names and trademark in Canada and see if your proposed name is available. You can also get a business name report from an authorized NUANS member, which will show you similar names that might cause confusion or legal issues.
Corporation Structure:
You need to decide on the type and structure of your corporation. There are different types of corporations, such as Standard Corporation, professional corporations, non-profit corporations, and cooperative corporations. Each type has its own rules and regulations that you need to follow. You also need to decide on the structure of your corporation, such as how many shares you will issue, what classes of shares you will have, and what rights and restrictions you will attach to each class of shares.
Artilces of Incorporation:
To register your corporation, you must file a document called the Articles of Incorporation with the province of Alberta. The articles of incorporation are the legal document that sets out the basic information about your corporation, such as its name, address, type, structure, directors, and shareholders. You can use the standard form provided by the Alberta government or create your own custom form.
Notice of Director:
You need to have at least one director who is at least 18 years old. There is no residency requirement to register an Alberta corporation. A non-resident is allowed to incorporate an Alberta Corporation.
Notice of Address:
You need to prepare the notice of address and notice of directors for your corporation. These are the forms that provide the contact information and personal details of your corporation’s registered office and directors. You can use the standard forms provided by the Alberta government or create your own custom forms.
How to incorporate your company:
Once you have met all the requirements for registering a corporation in Alberta, you can proceed with the following way:
- Do it yourself (DIY)
- Incorporate with Lawyers
- Incorporating through Regicorp
Do it yourself (DIY):
First, you can incorporate Alberta Corporation yourself. It’s surprising ! right? , we don’t recommend this approach because if your are not a Corporate specialist/accountant or lawyer there are many legal issue that you might noy know. And if you Put any wrong information it will punishable by Govt or if you later you need change anything it would cost more than incorporate a corporation in the beginning.
Time Consuming: To incorporate a business in Alberta, you must need to go to a Registry Office when you do it yourself. Registry office do it by mannually and chrage government charges and their chrages. That take time.
Share Structures for Corporations :
One the biggest issue when you are doing it yourself is that you only obtain half of what is required when incorporating. These are significant, that simply aren’t provided when doing it yourself.
You cannot create different kinds of shares; you will only have one basic type. Having various share types is good for including shareholders without voting rights or investors who prefer special shares. Also, if there is more than one shareholder, you might need different types of voting shares.
Incorporate with Lawyer:
One of the most common traditional method is that many small businesses hire a corporate lawyer to incorporate their corporation. In this case obviously all of the concerns with the DIY approach are removed: you’ll get customized advice from your lawyer that fits your company’s future goals as well as all the necessary corporate organizational documents.
Downside with this traditional method: But the downside with this traditional method is the cost is high and the process is entirely offline. Incorporating through a traditional law firm can range in price from $1,500 –$1,800. Also, you’ll need to set up an appointment, and either drive to the lawyer’s office to pick up the documents or have them couriered to you (at your cost). That cost won’t include the ongoing support that RegiCorp offers and with lawyer each new task, amendment, or return, you’ll be asked to pay again.
Affiliation and Partnership with Regicorp: There are hundres of lawyers, firms, accountants and service poviders have affiliation and Partnership with RegiCorp to incorporate their Alberta Corporation and other province’s corporation on be half of their clients.
Incorporating through RegiCorp:
At RegiCorp, we’ve made incorporating easy and affordable. Here’s what makes RegiCorp different than others:
Online Registration:
With RegiCorp You can do your entire Corporation process online (Submit your articles of incorporation, notice of address, notice of directors, NUANS report (if applicable), and any other required documents) . That means no queue and skip the boring lineup. Even if you are in rush & do not want to wait 3-7 days then we offer 2 hours Corporation Registration Services. . Processes that typically take weeks, involve stacks of paper, and cost thousands of dollars, have been transformed into quick, paperless, and affordable tasks that require no legal expertise.
One stop Corporate services:
RegiCorp wants to simplify all corporation taks in one place. That’s why Company bylaws, shareholder and director resolutions, share issuances, and more are all automated through RegiCorp. This means that you’ll get all the incorporation documents that you would normally get if you went to a law firm, tailored to your business, and you’ll save time and money in the process.
One affordable price: With RegiCorp, you can incorporate your company through easy peasy webiste form. We explain everything in simple terms, so you can feel confident navigating this process. Within 10-15 mintues you can fill up then submit the form. Rest of will RegiCorp.
Notice of Change & Company update:
Anytime your company details can be changed (like when you want to add a new director or change your address), RegiCorp takes care of the paperwork: filing forms with the government, preparing the required corporate resolutions, gathering eSignatures, and securely storing all documents back into your account.
Secure and organized online storage: Once you’ve incorporated, all your company’s legal documents will email to you. If you want RegiCorp are organized and securely stored in your all corporation documents in RegiCorp’s storage account we can do that in a small fees. That will secure all your documents. You can show them or download them at any time from your Laptop, Computer and Mobile Phone.
Steps to Incorporate Alberta Corporation
- Choose a business structure
- Select a Unique Name for Your Alberta Corporation
- Name Reservation and Approval
- Creating Articles of Incorporation
- Complete the provincial registration process
- Obtain any necessary municipal business licenses
- Obtain Municipal Business Licenses
- Register with the Canada Revenue Agency (CRA) for GST/HST
- Set up a Workers’ Compensation Board (WCB) account
- Keep records and renew registration as required
Choose a Business Structure:
Decide on the legal structure of your Corporation. Named Corporation or Numbered Corporation. Although both have same legal value just name is different .
Select a Unique Name for Your Alberta Corporation:
Choose a unique name that complies with Alberta’s naming regulations. Use the NUANS Report (Newly Upgraded Automated Name Search) system to ensure the name isn’t already in use. . It should be distinctive, descriptive, and should not infringe on existing trademarks.
Name Reservation and Approval:
Once you’ve selected a name, the next step is to reserve and get approval from the Alberta Corporate Registry. This ensures that your chosen name is unique and complies with provincial regulations.
Creating Articles of Incorporation:
The Articles of Incorporation is a document that outlines the basic structure of your corporation, including the corporation’s name, the number of shares issued, and the restrictions on share transfers. Preparing this document with precision is crucial as
Complete the Provincial Registration Process: Fill out the appropriate forms to register your business with the Alberta government. This can typically be done online with RegiCorp, or in person at a registry office.
Obtain Municipal Business Licenses: Check with your local municipality to see if you require a business license to operate in your town or city. Licensing requirements vary by municipality and type of business.
Apply for Additional Licenses and Permits: Depending on your business type, you may need additional permits (e.g., health permits, building permits, etc.).
Register with the Canada Revenue Agency (CRA) for GST/HST:
If your business will have revenues over $30,000 annually, you must register for the Goods and Services Tax (GST)/Harmonized Sales Tax (HST). If you’ll be selling goods and services taxable in Alberta, you’ll need to register with the CRA account.
Set up a Workers’ Compensation Board (WCB) Account:
If you have employees, you need to register with the WCB to provide workplace insurance coverage.
Keep Records and Renew Registration as Required: Maintain accurate records and financial statements. Note the expiry dates of your business registration and licenses, and ensure they are renewed on time to remain compliant.
Named Corporation vs Numbered corporation
Named Corporation:
A named corporation is a company that has been given a specific, chosen name by its founders. This name typically reflects the company’s brand, mission, or the services it provides. For example, “Green Leaf Innovations Inc.” would be a named corporation
Numbered Corporation:
A numbered corporation is not given a specific name by its founders. Instead, the government assigns a unique number to the corporation, which serves as its official legal name, followed by a legal element such as “Ltd.,” “Inc.,” or “Corporation.” For example, “123456789 Alberta Ltd.” would be a numbered corporation.
Time to register a corporation in Alberta:
The time it takes to register a corporation in Alberta depends on several factors, such as the type and structure of your corporation, the availability of your chosen name, and the method and service provider you use to register your corporation. According to some sources, the average time it takes to register a corporation in Alberta is 3-7 business days, but it may vary depending on the circumstances. In RegiCorp, if you need your documents in hours, like in 2 hours, you may choose our Rush priority service and you will get all your documents by email that are enough to Open a Business Account
Why choose RegiCorp: The best value for your money
Our website (www.regicorp.ca) was made expressly to meet the demands of small business owners who want to incorporate with a lawyer but don’t want to pay the fees or wait the usual amount of time to do so.
We know that business owners want to spend as little money as possible, but using a DIY website to incorporate to save a few dollars on incorporation expenses can potentially cost you a fortune. Fortunately, our website combines all the advantages of a conventional lawyer with the speed, ease, and affordable fixed fee of a do-it-yourself website.
We are certain that you won’t find a better value anywhere if you factor in the additional features and services that come with our incorporation packages. You receive more than simply an incorporation when you incorporate with us. When you incorporate with us, you get peace of mind in addition to an incorporation. In lieu of paperwork, we want you to concentrate on expanding your business.
Need help deciding what to do?
Still not sure if you actually need a lawyer or if you’re ready to incorporate at all? If so, we advise seeing a specialist before making a choice. A quick 30-minute consultation can assist you in preventing future issues as well as the associated costs and inconveniences. A free legal consultation with a knowledgeable Alberta Corporate agent is included in each of our incorporation packages.
We hope this article has helped you understand how to register a corporation in Alberta. If you have any questions or comments, please feel free to leave them below. We wish you all the best with your new Alberta Corporation!