Companies are incorporated in B.C. according to the provisions of the Business Corporations Act. When a company is incorporated, it acquires all of the powers of an individual, as well as an independent existence – separate and distinct from its shareholders – and an unlimited life expectancy. In other words, the act of incorporation gives life to a legal entity known as the corporation, commonly referred to as a “company”. A company can acquire assets, go into debt, enter into contracts, sue or be sued.

Compared to registering a sole proprietorship or a partnership, incorporating a company includes higher start-up costs related to professional fees for legal and accounting services. Carrying on business as a company will increase the number of filings you are required to make with the Corporate Registry. For instance, the Business Corporations Act requires all companies to file an annual report and also to file any changes to the location of the company offices and its directors. The company is also required to maintain certain corporate records.

4 EASY STEPS TO INCORPORATING A COMPANY IN BRITISH COLUMBIA

To incorporate a company in B.C., one or more persons (called “the incorporators”) may form a company by completing the following steps:

1) reserve the company’s name with the Corporate Registry;
2) enter into an incorporation agreement;
3) establish the company’s articles; and
4) file an Incorporation Application with the Corporate Registry.

STEP ONE RESERVING THE COMPANY’S NAME

If the company intends to use a specific name, that name must be approved and reserved by the Corporate Registry. This is to ensure the company’s name can be distinguished from the names of other incorporated companies and that the name meets specific guidelines established by the registrar of companies.

STEP TWO ENTER INTO AN INCORPORATION AGREEMENT

Before a company can be formed there must be an incorporation agreement signed by each incorporator. This is required even if there is only one incorporator. Usually, the incorporator(s) will also be the shareholder(s) and director(s) once the company is incorporated. The Business Corporations Act specifies that this incorporation agreement must contain:

• the agreement of each incorporator to take one or more shares of the company;
• the signature of each incorporator opposite their full name, along with the date each incorporator signed the agreement; and
• the number of shares of each class being taken by each incorporator.

STEP THREE ESTABLISH THE COMPANY’S ARTICLES

Every company must have a set of articles. The company’s articles are the rules that govern the conduct of the company and its shareholders, directors, and officers. For small companies, namely, those that have only one shareholder or where the officers are all family members, the standard set of Table 1 Articles prescribed in the Business Corporations Regulation is usually a suitable set of articles.

STEP FOUR FILE AN INCORPORATION APPLICATION

The next step in the process of incorporating a company is to file an Incorporation Application with the Corporate Registry. After you have filed the Incorporation Application and the company is incorporated, the Corporate Registry will issue you the original Certificate of Incorporation, a certified copy of the Incorporation Application and a certified copy of the Notice of Articles.

Incorporate Today

Company Formations Canada provides fast and easy British Columbia Incorporation Service and provides all the documents your new British Columbia corporation will need to stay up-to-date and in compliance with the British Columbia Business Corporation Act.

We Offer only one full incorporation package for only $99.99 and this package includes:

Receipt and review of your incorporation information.
If you choose to incorporate a named company, we conduct a Provincial or NUANS pre screen search of your proposed corporate name and advise you if there are any difficulties with your name.
Preparation and filing of Certificate of Incorporation.
Preparation of Organizational Minutes – covering the election of directors and officers, issuing shares, the form of share certificates and fixing the number of directors.
Preparation of Corporate By-Laws which sets out the organization of the corporation, including the powers and election of directors and officers, filling vacancies, holding meetings of shareholders and directors, required notice periods, setting the fiscal year end and the execution of documents.
Preparation of the Register of directors, the Register of Shareholders, the Register of Officers and the Stock Transfer Register.
Issuance of share certificates per your instructions
Blank share certificates
Shareholder ledgers for each shareholder
Provincial-specific start-up checklist

Incorporate today your new company in British Columbia. Fast, Easy, Online