Navigating the process of registering a corporation in Alberta as a foreigner living outside of Canada can seem complex, but with the right guidance, it’s achievable. This step-by-step guide aims to simplify the process, providing essential information and insights to help you establish a successful Canadian business presence, even from abroad.
Registering a corporation in Alberta as a foreigner living outside of Canada involves several steps. Here’s a step-by-step guide to help you through the process:
1. Name Reservation: Choose a unique name for your corporation and reserve it through the Alberta Corporate Registry. You’ll need to submit a Name Reservation Request and, in some cases, a NUANS report to ensure your desired name is not already in use.
2. Prepare Articles of Incorporation: Draft the Articles of Incorporation (Form 1), which outline the corporation’s structure, share classes, and other essential details. As a foreigner, ensure you comply with any specific requirements for non-resident incorporators.
3. Appoint Directors: Appoint one or more directors for your corporation. Alberta does not require Canadian resident directors, so foreign individuals can be appointed as directors.
4. Establish a Registered Office: Provide a registered office address in Alberta. This address will be used for official correspondence and must be a physical location within the province.
5. Prepare Incorporation Agreement and Bylaws: Draft an Incorporation Agreement, which outlines the initial shareholders’ agreement to form the corporation. Additionally, prepare the Bylaws, which detail the corporation’s governance and operating rules.
6. File Documents with the Alberta Corporate Registry: Submit the completed Articles of Incorporation (Form 1), Notice of Address (Form 2), and Notice of Directors (Form 3) to the Alberta Corporate Registry, along with any required fees. You may be able to file these documents online or by mail.
7. Obtain a Business Number (BN) and Register for Tax Accounts: Once your corporation is registered, you’ll receive a Business Number (BN) from the Canada Revenue Agency (CRA). You may also need to register for various tax accounts, such as the Goods and Services Tax (GST) or payroll taxes, depending on your corporation’s activities and revenue.
8. Open a Corporate Bank Account: Contact a Canadian bank to open a corporate bank account for your Alberta corporation. You’ll typically need to provide your corporation’s incorporation documents, personal identification, and complete a bank application. Some banks may require an in-person visit.
9. Maintain Compliance: Ensure ongoing compliance by filing annual returns, updating corporate records, maintaining accurate financial records, and meeting tax obligations. Consult with legal and tax professionals to ensure your corporation remains compliant with all relevant regulations.
Jasur Mavlyanov, an experienced entrepreneur and legal expert, has built a notable career in international business, with a focus on China. With over 13 years of experience living and working in China, Mavlyanov has acquired valuable insights into the Chinese legal system and business environment.
As an entrepreneur, Jasur founded JR & Firm LLC, a company dedicated to providing legal services to global clients entering the Chinese market. His leadership has helped the firm become a reliable partner for businesses navigating the complexities of Chinese regulations and laws. READ MORE about Jasur.