Finance Meeting

Incorporating A Business in Alberta - 5 Steps

To incorporate a business in Alberta, you must complete 5 steps as outlined below. A corporation is an independent legal entity that exists separate and apart from its owners (shareholders). If you are not sure if a corporation, partnership or a sole proprietorship is the best form of business, it is recommended you seek legal advice before continuing.

incorporation benefits

5 Steps to Incorporate a Business in Alberta

 

1.Choose a Corporation Name

You will need to choose a name to register your corporation in Alberta. Your business name must be unique and should consist of 3 components; a distinctive component, a descriptive component and a legal component.
An example of a corporation name that includes these three components is ‘Ted’s National Freight Ltd.
 
Distinctive Component
  • A word or location that distinguishes your corporation name from others. In the example, ‘Ted’s’ is the distinctive component.

Descriptive Component

  • A word or short phrase that describes what your corporation will do or what it is. ‘National Freight’ is the descriptive component in the example above.

Legal component

  • All corporations in Alberta are required to have a legal element at the end of their name. In the example, ‘Ltd’ is the legal component. Other legal elements permitted include Corp. and Inc. Other options can be found on Service Alberta’s website.

Alternatively, your corporation may also use a 3 component ‘number’ name. Corporate Registry assigns the number portion of the name, Alberta will form the second part of the name and you may choose the legal component. EX. 123456 Alberta Ltd.

2. Obtain an Alberta NUANS Report

No two corporations can be identically named. To confirm your corporation name is unique, you must obtain a NUANS report (Newly Updated Automated Name Search report), unless opting for a ‘number’ name. To obtain the NUANS report, you can either visit a physical NUANS service provider in your area or request a copy online from an authorized NUANS search house

3. Choose a Director for the Corporation.

Elect or appoint at least one director for your corporation. The director(s) must be an adult and at least one quarter of the board of directors must be Canadian residents.

4. Fill Out The Incorporation Forms

You will need to fill out and print 4 separate forms. You’ll need an Article of Incorporation form, a Notice of Address form, a Notice of Directors form, and a Notice of English/French Name Equivalency form. All forms are found on Service Alberta’s website.To fill out the forms, you will need to enter the following pieces of information:

Article of Incorporation Form

  • Corporation name
  • Classes of shares
  • Restrictions on share transfers
  • Number of directors the corporation may have
  • Restriction on carrying on certain businesses (if any)
  • Other rules and provisions (if any)
  • Incorporators
  • Information and signature of an Authorized Representative/Signing Authority for the corporation.

Notice of Address Form

  • Proposed Corporation name
  • Address of Registered Office
  • Records Address
  • Mailing Address (if different from above addresses)
  • Email address (optional)
  • Information and signature of an Authorized Representative/Signing Authority for the corporation.

Notice of Directors Form

  • Names and addresses of all the corporation’s directors
  • Information and signature of an Authorized Representative/Signing Authority for the corporation.

Notice of English/French Name Equivalency Form

  • Full legal name of the corporation
  • Corporate access code (only if one has already been assigned)
  • Information and signature of an Authorized Representative/Signing Authority for the corporation.

5. Take Your Information to a Service Provider

After the previous steps are complete, you need to take your information to a Registry Agent or Authorized Alberta Service Provider.  You will need to provide the following:

  • Your 4 completed incorporation forms
  • NUANS report
  • Valid ID
  • Incorporation of an Alberta corporation fee payment

Corporate Accounting with RMI & Associates

After incorporation, RMI & Associates is here to assist with all of your new corporation’s accounting and business planning. Our services include bookkeeping, financial statement preparation, corporate tax planning, GST remittances, business plan writing, business consulting and financial planning.

 

Join our Newsletter

Visit us on Twitter

Follow @rmiassociates on twitter

 

Contact Info

(403) 457-4232

info@rmiassociates.com

 Contact