Starting a business in Saskatchewan is an exciting journey. The first step to making your business official is registering it. That’s where registering your business comes in.
Think of it like planting a seed. You wouldn’t just toss it anywhere and hope for the best, right? You need the right soil (business structure), watering (permits and licenses), and sunshine (compliance). This guide will help you to choose right process and guide you step-by-step, to ensure your business becomes a reality in Saskatchewan.
Saskatchewan Business Registration Online.
Choose Right Structure of your Business:
First things first, decide how you want to structure your business. Are you a solopreneur, ready to rock it on your own? Or do you have partners by your side, sharing the journey? This decision impacts everything from liability to taxes, so choose wisely! Here are your main options:
Sole Proprietorship: Ideal for solopreneurs, offering simplicity and ease of set-up. But you have unlimited personal liability, meaning your business debts and assets are intertwined.
Partnership: Perfect for teaming up with one or more partners, sharing profits and responsibilities. Choose between general (all partners share equal liability) or limited (limited liability protection for partners).
Corporation: The most complex structure but offers limited liability protection and the ability to raise capital through shares. Suitable for larger businesses or ventures with multiple investors.
What are requirements for Registering in Saskatchewan?
- Name Reservation Report (Mandatory)
- Business Address within Saskatchewan
- Business Owner Full name and Address
Do I need a Nuans Preliminary search Before Name Reservation in Saskatchewan?
It is no mandatory but with Saskatchewan Name Reservation Report you will only know the existing name in Saskatchewan not existing business and Canadian Trademark or nor all business name in Canada wide. So, if you want to expand your business in near future it is better to all Canadian existing business name and trademark name. You may get all existing business and trademark list by a Federal Name Pre-approval (Nuans Report) report.
How long a business Registration is Valid?
Registration expires after 3 years of its registration. No worries our CRA System and team will track your renewal date and will notify you before 60 days and 30 days of expired.
What is the difference between registering a business and incorporating a business in Saskatchewan?
Registering a business typically refers to registering a sole proprietorship or partnership or Trade Name under a corporation, which is a simpler process and involves registering a business name. Registering a business also know as unincorporated business in Canada.
Incorporating a business means creating a separate legal entity (a corporation) and involves a more detailed process, including filing Articles of Incorporation and setting up a corporate structure.
Why choose RegiCorp to register your Business in Saskatchewan?
RegiCorp is completely online based platform to register your business in a quick and easy way. Once we received someone order you assigned a dedicated Saskatchewan Business specialist to handle the whole process with consultation of our in-house CPA Accountant and if need legal advise take it from in-house lawyer. They ensure Name reservation in Saskatchewan and also suggest trademark and all existing business name across Canada that will help you better determine a business name that does not put you of infringing against both corporations and trademarks that have existing name protection.
Frequently Asked Questions about Registering a Business in Saskatchewan
Q: Do I need to register my business in Saskatchewan?
A: Yes, any business operating in Saskatchewan, even a sole proprietorship, must register with the government. This includes partnerships, Trade Name and corporations.
Q: Do I need a lawyer to register or incorporate my business in Saskatchewan?
A: While it’s not mandatory to have a lawyer to register a simple sole proprietorship or partnership, you may find it helpful to consult with a lawyer or a professional service like RegiCorp when incorporating a business or if you have complex legal questions regarding your business structure.
Q: How do I check if my business name is available in Saskatchewan?
A: You can check the availability of your business name by searching the Saskatchewan business name registry online. It’s important to ensure your desired name is not already in use or too similar to another registered name.
Q: Can I register my business online in Saskatchewan?
A: Yes, RegiCorp offers online registration for all businesses. This includes sole proprietorships, partnerships, Trade name, Corporation, Non-profit corporation, Extra Provincial Registration. Online registration is a convenient way to file your business registration or incorporation documents.
Q: What are the different types of business structures in Saskatchewan?
A: The three main types are:
Sole Proprietorship: Simple and inexpensive, but you have unlimited personal liability.
Partnership: Shared ownership and responsibility with partners, with options for unlimited or limited liability.
Corporation: Offers limited liability and access to capital through shares, but more complex to set up.
Q: Can I Register if I am not a Resident of Canada?
A: Yes, you can register a business and operate it in Saskatchewan even if you do not have a Permanent Resident Card or Canadian Citizen status in Canada but live within Saskatchewan.
Q: How do I register my business in Saskatchewan?
A: You can register online through using RegiCorp website (www.RegiCorp.ca). You’ll need to choose your structure, gather required documents, and pay a fee.
Q: What permits and licenses do I need?
A: This depends on your industry and location. You can ask our agent or BizPaL tool to find out what’s required for your specific business.
Q: What is a Business Number (BN) and do I need one in Saskatchewan?
A: A Business Number (BN) is a unique number assigned by the Canada Revenue Agency (CRA) to track your business’s tax obligations and filings. If you are conducting business in Saskatchewan, you will likely need a BN for tax purposes, such as GST/HST, payroll, and corporate income tax.
Q: Do I need to register for taxes?
A: Yes, you’ll need to register for Provincial Sales Tax (PST) and get an Employer Identification Number (EIN) if you have employees. Consult a tax advisor for specific advice.
Q: How much does it cost to register a business in Saskatchewan?
A: The cost varies depending on your chosen structure and chosen filing method. Sole proprietorships are generally the cheapest, while corporations have higher fees.
Q: Can I get help with registering my business?
A: Yes! Several resources are available in our Blog post and FAQs section, if need more help you may email or call us directly in our business Hour.
Q: How long does it take to register a business in Saskatchewan?
A: The time it takes to register a business in Saskatchewan can vary. Online registrations may be processed more quickly, sometimes in just a few business days. Mail-in or in-person registrations may take longer. Incorporating a business may also take longer due to the more complex nature of the process.
Q: What happens after I register my business?
A: Remember, registration is just the beginning. You need to comply with ongoing regulations, file reports, and pay taxes. Consider seeking professional help for complex requirements.