An exceptional accomplishment is launching a firm. There may be necessary stages that you must complete in order to launch your business in Alberta, depending on the type of enterprise you establish. Adding business registration to the list of these actions.
It’s not as difficult as it first appears to register a business. In Alberta, forming a corporation is a simple process. In this article, I will tell you how to register a business in Alberta.
So, without further delay let’s dive deep into it…….
1. Establishing Your Company’s Legal Structure
When starting a firm, the legal structure of your enterprise should be taken into account first. This is the customary procedure. Similar to other jurisdictions, Alberta permits the formation of sole proprietorships, partnerships, cooperatives, corporations, and non-profit organizations.
One person operates a solitary proprietorship. If you run your firm as a lone owner, you are not required to register it. Nonetheless, you must register your business name if you operate it under a name that is different from your given name.
A trade name is what you register as your company’s name when you operate as a sole proprietorship. Further actions that are needed to incorporate a business will be covered later.
2. Deciding on a Business Name and Registering it
You can select a company name to serve as the public face of your enterprise. A partnership or single proprietorship cannot be legally divided from its owners by registering a business name. In the case of a restricted liability partnership, owners are liable for the partnership’s debts and obligations, according to any limited liability agreements.
In theory, when you register a name for a sole proprietorship or partnership business, you do not have a legal claim to the name. Your company name may be registered with some other company. But, you might need to exercise caution and conduct a thorough check to prevent copying another company’s name since this could lead to lawsuits and financial penalties.
Any business name may be chosen by sole proprietorships and partnerships. But, there are certain limitations. For instance, you cannot use terms like “limited,” “incorporated,” or “corporation” which implies you operate as a registered corporation if you do not. Also, you cannot use these words’ French equivalents or acronyms in the name of your company.
The words limited liability partnership (LLP) must be added to the end of your company name if it is a limited liability partnership.
Contrarily, a corporation functions as a distinct legal body and its requirements for a business name are different from those of sole proprietorships and partnerships. A corporation’s name needs to be evocative, distinctive, and contain a legal component. Unlimited Liability Corporation and Corporation are a few examples of legal aspects that firms in Alberta may choose to add to the end of their business names.
What would happen if you have a team of Professionals? Professional is a legal term that can be used in business names for some professions. Only professional companies, such as dentists, doctors, optometrists, etc., are permitted to use the legal element “Professional Corporation” in their company names.
In Alberta, companies can register names using numerals as well. The number is given by the Corporate Registry and is typically followed by the name of the province and a legal term. An organization that has been incorporated, for instance, may register the name 763422 Alberta Ltd.
3. Obtaining a Report on a Business Name
Sole proprietors can obtain a business name report to compare similar businesses, corporations, and trademarks.
An Alberta NUANS report is another name for a business name report. Due to the existence of duplicate business names for sole proprietorships and partnerships, obtaining a business name report is not required for them. Businesses with a number in their name are exempt from submitting a NUANS report during the incorporation process.
To make sure that their suggested names do not already exist as other companies, however, incorporated enterprises must obtain the Alberta NUANS report. Commercial corporations, it is not permitted to use identical or similar business names. The NUANS report is a necessary document that you must provide while establishing a business in Alberta.
If the name of your planned business conflicts with the name of another corporation, the latter may submit a complaint with the Register of Corporations and request that you modify it. An authorized NUANS member can provide you with a company name report. Members of NUANS are often legally recognized private groups that assist companies in naming their companies. Here you may look up a certified NUANS member in your area.
4. How to Register a Business in Alberta?
You must complete the proclamation of registered trademark form for such a sole proprietorship or the proclamation of partnership form for a partnership after selecting a business name.
The Alberta government offers the paperwork for you to complete with your company’s information. Use your own form as long as it has all the data needed to register your firm.
4.1 Sole Proprietorships
You must include the proposed business name, the sort of business you run, the year the business was founded, and the business address in Alberta while completing the trade name form.
As the trademark declarant, you must also supply your personal information. Your identity, contact, email address, and profession are included in this. When you provide these facts, the “name of the declarant” and “trade name” fields in the declaration of declaration section are automatically filled in.
The authorized officer or signature authority for the business need to provide their identity and sign the document in the final area. An agent, a company owner, or a lawyer can sign on behalf of another party.
You will deliver the completed form to a certified corporate registry service provider. Your information will thereafter be submitted to the registrar of corporations in accordance with the Partnership Act by the corporate registry.
You must complete and send the Declaration of Partnership form for partnership enterprises to an authorized corporate registration service provider. You must fill out the form with the partnership name, the name of the business in Alberta, the business’s founding date, and the nature of the business.
Information regarding the notice of termination of your business partnership will be requested from you. You can decide whether the partnership contract has an end date or an indefinite duration. You must enter the end date in the form as indicated below if the relationship may end at any moment.
The names, residences, occupations, and email addresses of all company partners must then be provided. You must supply details on a designated representation or signature authority for your business partnership in the final section.
The person you designate as a designated authority must present identity documentation to the corporate register service provider in order to finalize the business registration on your behalf.
If necessary, you should fill out and submit the Special Authority to Perform a Declaration form.
Other partnerships kinds, such as the limited partnership and the limited liability partnership, require distinct registration forms.
If your company is based in Saskatchewan, Manitoba, or British Columbia, you may establish your limited business partnership in Alberta for free by utilizing the province’s online extra-provincial registration system. You can also submit an application immediately in these provinces.
You must present authorization from the Provincial organization that oversees your profession in order to sign up for a limited liability partnership (LLP), like a law office or accounting firm. If your LLP is an additional company, you must show evidence of active registration in the country where your company is headquartered as well as exact photocopies of your registration paperwork. If you want to establish your company in Alberta but your limited liability partnership’s native authority is in British Columbia, Manitoba, or Saskatchewan, you must contact your province to find out the precise procedures needed.
4.3 Final Registration Step
If you satisfy all requirements, your business information would be entered into the corporate registry after submitting your business address, Alberta NUANS report (if necessary), valid identity, and the necessary costs. Your proof of filing will be sent to you by the corporate register. If relevant, you will also be notified by email once your federal company number is issued.
This was all about How to register a business in Alberta. Follow the steps above and you can get your business registered in Alberta.
Check out this page if you want to learn how to start a business in Ontario.
Frequently Asked Questions
Some of the most asked questions for registering a business in Albert are listed below:-
Q1. In Alberta, how much is it price to register a business?
In Alberta, registering your business is free of charge. You just need to pay for the name search and the reservation.
Q2. Can someone from outside of Alberta open a business?
Yes, anyone from anywhere in the world can start a business in Alberta.
Q3. Do I need a lawyer to start a business in Alberta?
It’s highly recommended to get a lawyer for starting a business in Alberta.
Q4. Can you run a business without registering it?
No, you can’t run a business without registering it. It is illegal to run a business without registering it.