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 […]
Important features of the British Columbia Business Corporation Act
Business Corporations are incorporated in British Columbia, according to the provisions of the British Columbia Business Corporation Act with the British Columbia Registries Office. 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; […]
Incorporation under The New Brunswick Business Corporations Act
A name search is required in New Brunswick, other than for the incorporation of a numbered-name company. The Director of the NBBCA can refuse to register a corporate name, even if the name search does not indicate the existence of an identical match. The fee for filing articles of incorporates in New Brunswick is $262 […]
Incorporation under the Nova Scotia Business Companies Act
Unlike the other Canadian provinces, the Companies Act (Nova Scotia) is based on English law. As a result, there are some significant differences from the other provinces and Nova Scotia in corporate documentation and terminology, but far fewer differences in legal effect. A name search is required prior to incorporation as well as approval from […]
Who needs an attorney for service
A foreign corporation seeking to register in Canada or a domestic Canadian corporation seeking to register in another province as an extra-provincial corporation must designate a person resident in that province to accept service of legal documents. Service on the agent amounts to service of the document in question on the corporation. An Attorney for […]
What is an Attorney for Service
An Attorney for Service is an individual appointed by an extra-provincial corporation to represent itself in the province of registration. The Attorney for Service does not need to be a Lawyer. This is just an individual within Canada that has been appointed by the extra-provincial corporation. What if I do not have an Attorney for […]
Can You Set Up a Limited Liability Company (LLC) in Canada?
This is a common question as LLCs are popular types of incorporation in the U.S. and other countries such as the U.K. and Mexico, but Canada does not have an equivalent corporate structure. Can You Set Up a Limited Liability Company (LLC) in Canada? No, you cannot set up an LLC in Canada as this […]
What are records and who has to keep them?
What are records? Records are organized accounting and financial documents that summarize your transactions and include the documents to support these transactions. These documents include: ledgers journals books charts tables financial statements statements of accounts income tax returns goods and services tax/harmonized sales tax (GST/HST) returns excise tax returns sales invoices purchase receipts vouchers contracts […]
Keeping your Business Records
Records are all your accounting and other financial information documents. These documents must be kept organized. The type of information your records contain depends on your situation and other factors such as: your business type the format you use to keep your records (paper, electronic or a combination of the two) if you have converted […]
Keeping your Business Expense Records
Always get receipts or other vouchers when you buy something for your business. The receipts have to show: ■ the date of the purchase; ■ the name and address of the seller or supplier; ■ the name and address of the buyer; ■ a full description of the goods or services; and ■ the vendor’s […]
