Incorporating a business in New Brunswick, Canada, involves several steps and considerations. The process allows businesses of any size to adopt a legal operational structure, offering benefits like limited liability for owners, the ability to sell shares, and certain tax advantages. However, incorporation is not mandatory, and entrepreneurs can choose other legal structures like sole proprietorships or partnerships, which have fewer regulations but also less liability protection.
The incorporation process in New Brunswick requires adherence to both provincial and federal regulations. Incorporation at the federal level offers nationwide name protection for the business, but provincial registration is still necessary for operating within New Brunswick. The process involves submitting several forms, including the Articles of Incorporation, Notice of Registered Office, and Notice of Directors, each requiring specific information about the business and its management.
Choose your Corporation Type:
Before Incorporating a business in New Brunswick, you must need to choose what type of corporation you want to incorporate.
There are two types of corporation form in Alberta.
- Name Corporation
- Number Corporation
A New Brunswick corporation name consists of 3 elements:
- Distinctive element
- Descriptive element
- Legal suffix
‘Kevin Automobiles Supplies Ltd.’ is an example of a New Brunswick corporation name that contains all 3 elements.
A distinctive element is a unique word or location that makes your corporation name completely distinct from other corporation, business and Trademark
In the example above, ‘Kevin’ is the distinctive element.
A descriptive element describes the activities of the corporation.
In the example above, ‘Automobiles Supplies’ is the descriptive element.
It is mandatory for all New Brunswick corporations to have a legal element at the end of their name.
In the example above, ‘Ltd.’ is the legal element.
For Accepted legal elements for all New Brunswick corporation:
The following legal elements are accepted permitted by the Business Corporations Act of New Brunswick
- Unlimited Liability Corporation
The ‘Professional Corporation’ element can only be used for one of the following types of professions:
- Chartered Professional Accountants
New Brunswick Number corporation:
The second type of corporation can be a ‘number’ name, such as ‘78678688 New Brunswick Inc.’
The numbered is automatically generated by Govt registry system. You can not choose a number for your number corporation. You can only choose the second part “legal element” above.
Obtain New Brunswick NUANS Report.
Entrepreneurs looking to incorporate a business in New Brunswick should first obtain a business name and ensure its availability through a NUANS search report. To Incorporate a named corporation in New Brunswick you must need a NUANS report.
A NUANS report is needed to verify that no existing corporations already registered the exact name you’re proposing. Following this, they must complete and submit the necessary forms within 90 days of the report.
It’s important to avoid duplicating names, as this is not permitted. Additionally, the NUANS report will help you evaluate if your chosen name closely resembles the names of other corporations. Should another corporation find your chosen name confusingly similar to theirs, they have the right to raise an objection with the Registrar of Corporations. If the Registrar upholds this objection, your corporation may be required to change its name.
RegiCorp has inhouse Corporate specialist who can help you to get a no conflict name for your corporation. At RegiCorp, you can search a unlimited name search in New Brunswick corporation package.
File New Brunswick Articles of Incorporation:
Filing Articles of Incorporation for Incorporating a New Brunswick corporation is one of the fundamental points. You can say that it is a constitute of a New Brunswick corporation. Articles of Incorporation is the legal structure of your corporation. If you confused and have no knowledge about articles of incorporation our in-house lawyers and accounts are here to help you to make your worry to relax. The are some requirements to file your Articles of Incorporation. You must decide the following the information:
Select a Registered Office address:
Registered office must be located within New Brunswick. The registered office address is where official documents will be sent and legal proceedings against the corporation will be served. It’s important to select an address that is consistently accessible for receiving such important communications.
The registered office may be a commercial or residential address in New Brunswick but should not be a post office box or virtual address. You will need the complete address.
Notice of Directors:
You need to choose who will manage your corporation as its directors. Directors are responsible for making key decisions and overseeing the corporation’s activities. Every corporation needs at least one director, who must be a real person, not a company or organization. In New Brunswick, directors don’t have to live in Canada. They can also be shareholders or officers of the corporation, which is common in small businesses. For each director, you should know their full home address, whether they are Canadian residents, and their job.
Paying Incorporation fee:
Filing fees & Filing of Incorporation Documents with the Registries Office. You do not need to go A Registry office and no need to consume your time to Register your corporation. Just fill up all your information in 5-10 minutes and place an order through RegiCorp. That’s it!!
Review and get your Documents:
Our lawyers, accountants, and corporate specialists will check all your information before to submit it registry office throughout the portal. Then the New Brunswick Corporate Registry Office checks that your incorporation papers are correctly filled out and that the name you’ve chosen is suitable. For your application to be complete, it must have all required documents, all forms must be filled out and signed, and the fee must be paid. If any of these elements are missing, they’ll consider your application incomplete. After reviewing and completing your application, you will get all your registered documents via email. That’s enough to open a business account at any bank.