British Columbia Incorporation. 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.
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.
Four Steps to Incorporating a Company In British Columbia
Reserving the Company 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.
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.
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. The articles must be kept by the company as part of the company’s records.
File an Incorporation Application with the Corporate Registry.
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 electronically and the company is incorporated, the Corporate Registry will send you the original Certificate of Incorporation, a certified copy of the Incorporation Application and a certified copy of the Notice of Articles. These documents must be kept by the company as part of the company’s records.
British Columbia Incorporation Service in 24 Hours.
Business Corporations are incorporated in British Columbia, according to the provisions of the British Columbia Business Corporation Act with the British Columbia Corporations Division. 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.