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

The following is a list of some of the more important features of the BCBCA:

• There is no residency requirement for directors.
• Companies may incorporate subsidiaries directly — incorporators do not have to be individuals.
• A company incorporated under the BCBCA does so by filing a notice of articles with the registrar under the BCBCA. The filing fee is $350 and the notice of articles contains only limited information about the company and no copy of the company’s articles of incorporation. There is a right to pre-file by up to 10 days for future incorporations. This feature is attractive in that it accommodates an orderly closing in certain complex corporate reorganizations.
• A subsidiary is now permitted to hold shares of its parent, although it cannot vote those shares. In addition, a BCBCA company (apart from a ULC incorporated under the BCBCA (a “BCULC”)) may amalgamate with a company incorporated under the legislation of another jurisdiction without requiring the corporation from the other jurisdiction to first continue under the laws of British Columbia. This contrasts with the provisions of the OBCA and may represent a significant advantage for certain corporate re-organizations or in circumstances where shares of a public company parent are to be issued to satisfy an acquisition price payable by its subsidiary for property acquired from a third party.
• The granting of financial assistance (broadly defined) to a related party is specifically authorized by section 195 of the BCBCA — the only formality is a requirement of notice of the granting of financial assistance to be deposited at the company’s registered office at or shortly after the giving of such assistance or recorded in the minutes of the directors’ meeting at which the granting of financial assistance was approved.
• One drawback is that there is no concept of a unanimous shareholders agreement under the BCBCA.

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 incorporated 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 in British Columbia. fast, Easy, Online