What Are corporations In Alberta? Mandatory measures remain in effect provincewide. Canadian businesses can be incorporated at the federal or the provincial level - and I'll go over the details on that further down. In our experience, listing the business owner's home address as the registered office and records address often leads to problems. The directors may have physical addresses outside of Alberta 6. The following legal elements are permitted by the Business Corporations Act: The ‘Professional Corporation’ element can only be used for one of the following types of professions: Your corporation can also use a ‘number’ name, such as ‘785843 Alberta Inc.’. Ownership from day one Ensure you have the legal documents required to own your company. When you incorporate with us you're not just getting an incorporation, your also getting peace of mind. Denmark – Tax Efficient, Flexible Hiring and Firing. Home p Although the cost to incorporate may be higher, incorporating with a traditional law firm is usually a better investment than trying to do it yourself. If you are trying to decide between an Incorporation and a more simple structure like a Trade Name or Partnership, please read Choosing Between a Trade Name and an Incorporation. Let us help guide you through it! Learn how to incorporate your Alberta-based business. Lost your password? Standard Corporation. These often include the following items which are not included in the advertised price or additional mandatory fees and make the actual cost to incorporate in Alberta much higher: A corporate minute book is a book containing records of the corporation. Posted by heritagelaw on Oct 4, 2019 in Blog, Commercial Law. The current government fee for incorporation is $275. The house is sided with white vinyl siding. Determining your business type. Benefits of Incorporating Your Business in Alberta. Unfortunately, others think that this should cost extra. The Nuans report shows similar small business, corporation and trademark names to your proposed name. If you choose to do-it-yourself, you'll be working with someone that likely has no legal training, and is not bound by a lawyer's code of professional conduct. This usually means that the owner's home address (which becomes publicly listed), is selected as both the registered office and records address. Here is a brief list of benefits you may or may not already be considering. It used to be that a law firm was the only place you could go to incorporate a company. As a premier member of the Charming Inns & Small Hotels of Alberta, the business is a major player in Alberta’s tourism and hospitality marketplace boasting an impressive repeat clientele of raving fans that come back year after year. You may need to hire a lawyer to do so. A corporation is an independent legal entity that exists separate and apart from its owners (shareholders). Despite most do-it-yourself websites stating that you don't need a lawyer to incorporate, they also clearly state in their disclaimers that you should speak to a lawyer before using their services. You'll work directly with a lawyer to ensure that your corporation is set up correctly. Setting up a business involves important legal issues that need to be considered and addressed. They won't help you to review it to prevent potential problems. As Alberta reopens, note that temporary changes to several acts and regulations that fall under the oversight of Service Alberta are no longer in effect as of August 15. If you have any questions, we won't have to tell you to hire a lawyer to figure it out. Login. In the example above, ‘Building Supplies’ is the descriptive element. 1. In Alberta, it's not possible to register a corporation on your own. Although you may be able to purchase a corporate minute book for an additional fee, it will rarely contain all of the documentation necessary to properly set up a corporation. But are you really saving anything when you consider annual maintenance, legal issues and potential headaches? By law, Alberta corporations are required to have both a registered office and a records address. If you incorporate with us, your corporate minute book will be digital. Notice of English/French Name Equivalency (optional). We understand that entrepreneurs want to pay as little as possible, however, incorporating with a do-it-yourself website to save a few bucks on incorporation fees can easily cost you a fortune. Add that to your total cost to incorporate. The two most common are for people to be sole proprietors or run their business as a corporation. Share certificates are fancy pieces of paper that represent share ownership. This topic will discuss the process of incorporation in Alberta. Directors must be adults and at least one quarter of the board must be Canadian residents. If you incorporate with a traditional law firm and wish to receive these additional services, you'll need to pay an additional fee. This helps to ensure that your corporation is properly maintained. 647-945-8873. You will need a mailing address in Alberta for the corporation if you do not have mail delivered to the registered office. As a Canadian business owner, it is important to understand the different ways in which you can pay yourself. Named corporations in Alberta require a How long will it take to Incorporate in Alberta? If you incorporate with us you'll receive legal advice as part of the incorporation package. Although some information is reviewed to ensure compliance with basic corporate registry requirements, do-it-yourself incorporators don't review your information to ensure that the corporation is set up in a way that is best for your business from a legal perspective. The company can be numbered or named 4. This can lead to ownership disputes and headaches for tax purposes. Is it worth the risk to your business? That means no fancy paper is required. We will also ensure that the necessary documents are completed to set up your corporation correctly the first time. Still not sure if you actually need a lawyer or if you're ready to incorporate at all? There are many advantages to incorporating. It's considered do-it-yourself and not full service, because most of the work is left up to you to complete on your own. We offer 3 service packages, each with their own registration timelines. Failing to fill these in correctly or at all could lead to serious legal problems. Legally Complete Incorporate the Right Way. Business Development Centre helps Incorporate in Canada, BC, Alberta, Ontario or Saskatchewan, Incorporation Services We want people to understand all the benefits of incorporation . Additional Mandatory Fees (add $350-$425), "Extras" - More Hidden Costs (add $225-$450). Keep reading for a detailed breakdown of the actual cost to incorporate in Alberta, and what you'll get for your money. The second item most often missing from do-it-yourself incorporation packages is completed documents. Your company will be registered, but there's a good chance that several important steps will be left unfinished. Member of Corporations Canada. It may be a little difficult to find the disclaimer, because it's usually hidden somewhere in tiny font, however, most disclaimers are very similar and include the following terms: Only lawyers can provide legal advice. Unlike business names, identically named corporations are not allowed. By incorporating your Saskatchewan business corporation by yourself, you can cut costs of using online corporation services or hiring a corporate lawyer. Compare Products. Unfortunately there is a lot of misinformation out there regarding the cost to incorporate a company in Alberta. If you incorporate with our law firm, your corporation will be set up with a comprehensive and flexible share structure reducing the chances of having to make expensive changes in the future. Businesses can be run in a variety of ways. A registered office is a place at which documents, such as legal claims, can be served (delivered) upon the corporation. If your corporation was formed in another province or country, it must be registered to carry on business in Alberta.. Quick, easy and guaranteed. But what about websites that claim the cost to incorporate is under $100? They do this by listing a government registration fee of greater than $275. There are lots of websites advertising low cost incorporation services for as little at $50, but these ads are very misleading and don't reflect the true cost of incorporating. We believe that it's our job to help you complete the incorporation process and that you shouldn't be charged extra to answer questions about how to set up your business correctly. Steps to Incorporating a Company In Alberta Alberta Incorporation. When we incorporate a company on behalf of a client, we ALWAYS provide a fully complete digital minute book containing the following: Everything is fully customized to your situation and is sent to you for electronic signature. The records address, if not the same as the registered office, also needs to be physically located in Alberta. You can incorporate a company yourself in Alberta with no lawyer required! The first is the actual government registration fee. You can ignore these issues, but you do so at your own peril. 56 Houses in Alberta from $30,000. Have fun trying to fix it. That's why we include 1 year of legal support services with every incorporation. Luckily, with our site you get all of the benefits of a traditional lawyer, with the speed, convenience and low fixed price of a do-it-yourself website. The basic registration fee charged by the provincial government is $450. Optional services, such as express filing or annual registered office address fees can increase the cost substantially. Hours: 8:15 am to 4:30 pm (Monday to Friday, closed statutory holidays) Congratulations on deciding to go into business for yourself. To understand why it's important to hire a lawyer when you incorporate a business in Alberta, all you need to do is take a look at the disclaimer of any do-it-yourself website. Based on our research, the average legal fees you can expect to pay for an Alberta incorporation are between $750 to $1,500. To support a healthy relaunch, continue acting safely to prevent the spread. By "do-it-yourself" incorporation, we're referring to an incorporation completed without the help of a lawyer, meaning with a registry agent either in person or online. What is the typical cost to incorporate with a traditional law firm? If you take into account the extra features and services included with our incorporation packages, we're confident that you won't find a better deal anywhere. Fillable forms do not open properly on some mobile devices and web browsers. You need to take your forms to a registry agent or authorized Alberta service provider. You can also register your corporation in British Columbia, Manitoba or Saskatchewan if you plan on doing business there. If you care about protecting your business and setting it up correctly, the higher incorporation fees are well worth it. If you have questions about our prices or would like to discuss monthly payment options, please contact us. Tags:Compare Prices, cost to incorporate, fees, incorporation costs, legal advice. If they're not honest about the fees that you're paying, it makes you wonder what else are they're misleading you about? Events such as Edmonton’s Eco-Solar Home Tour showcase ways to … For more information, read the Fact Sheet (PDF, 311 KB). A small business with only one owner can register as a corporation. filing a corporate annual return with the Alberta Corporate Registry (not to be confused with the corporation's tax return); filing notices regarding any changes of shareholders and directors of the corporation; preparing annual shareholder resolutions as required by law; preparing director resolutions when required; making updates to the corporation's minute book. Alberta: You can register a business in Alberta through one of the authorized service providers. If you are thinking about starting a small business or if your business is growing and you are ready to incorporate, there are a number of reasons to consider incorporating in Alberta. Incorporating a corporation creates a legal ‘person’ that’s separate and distinct from its individual owners.. Out-of-province corporations. Incorporating a new company in Alberta. Use this guide in conjunction with the online incorporation forms provided on the Alberta Government website to form your own corporation. Providing legal advice requires a formal retainer and a review of your particular fact situation. An incorporated business (exact same thing as a corporation) is considered to be a legal entity that is separate from its owners and shareholders. Calgary is the jewel of Alberta. You can close in on a specific neighbourhood or area by simply drawing around it with the polygon or radius tools. This well-run business has earned yearly revenues from $900,000 to $1 million in the past 4 years, an enviable $270 average daily rate and a 11% cap rate. What's not included with a typical do-it-yourself incorporation? Good question. How to Incorporate a Business in Alberta By Yourself. Once you visit their site (and sometimes not until you start to fill out their forms), you'll notice that the actual cost to incorporate is much higher. This is the actual price charged to a law firm or registry agent that submits the application to incorporate and needs to be added to your total cost to incorporate. BONUS: Also receive a free comprehensive report to help, organizational resolutions of the directors and shareholders, share certificates (or notices of uncertificated shares). If you factor this in to the cost to incorporate, your actual fee could be much lower than that of most do-it-yourself websites. Some are not offered at all, and others could cost you as much as an additional $750 to complete. 2. The steps include: 1. Search for: Incorporate. You can now fill and save your form. 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