How to Register a Business Name in British Columbia
- 1). Before going through British Columbia business registration, you need to decide how your new business will be legally structured. In Canada there are basically four choices of business ownership: sole proprietorship, partnership, corporation or cooperative.
- 2). Choose a name for your new business. The name you choose will depend on what form of business you have chosen to operate, as the business name registration rules are different for each form of business ownership. For example, if you choose to set up your business as a sole proprietorship using your own name, without adding any other words, business registration in BC is not necessary. If, however, you choose to operate a sole proprietorship under any other name, or want to set up a partnership or corporation, you need to have your name approved by the provincial Corporate Registry before you can register your business.In British Columbia, you have to fill out a Name Approval Request Form. You can get a Name Approval Request Form from your local government's agent office or from the Corporate Registry Web site. Filing the Name Approval Request Form will cost you at least $30 at all OneStop Government Agent offices or the Corporate Registry. The fee will vary if you file your Name Approval Request Form at other places such as a Community Futures Development Corporation.Once your business name has been approved, you will have 56 days to complete the business registration procedure. If you don't, you will have to start the process all over again with another Name Approval Request.
- 3). Fill out the Name Approval Request Form. This has to be done before you go through the actual BC business registration process. The main purpose of the Name Approval Request Form is to reserve a name for your business use. In addition to some basic information, such as name, address and the nature of your business, the form asks you to list three business name choices.
- 4). File the Name Approval Request Form. Take it back to your local Government Agent or Business Centre or mail it to the Corporate Registry at:PO Box 9431 Stn Prov GovtVictoria BC, V8W 9V3.Filing the Name Approval Request Form will cost $30 at all OneStop Government Agent offices or the Corporate Registry. If you file your Name Approval Request through another agency, such as a Community Future office or Chamber of Commerce, you will pay more.
- 5). Wait. It usually takes about three working days for the name approval request to be processed. You can pay a fee for priority service which usually has a 24-hour turnaround. The results of the search will be mailed to you, or given to you over the phone if you’ve dealt with a local government agent. If one of the business names you submitted was approved, it will be reserved for you for 56 days. At this point, the Corporate Registry advises you not to spend any money advertising, getting new business cards printed or otherwise investing in your new name, as the name is only reserved.
- 6). Now you are ready to register your business. It needs to be registered within 56 days, or your name approval will lapse and you'll have to start the process all over again.
- 7). Before registering your Business, decide on the structure.British Columbia Sole Proprietorship & Partnership Registration:To register a sole proprietorship or partnership, you must fill out a Declaration for Proprietorship or Partnership Registration Form and submit your declaration and fee ], currently $40. This fee applies only to a general partnership; the basic fee for registering a limited partnership is currently $165, plus the $30 name approval fee.You may file the completed form at your local government agent’s office, mail it to the Ministry of Finance, or use the OneStop Business Registration, a computerized service that you can use to complete your BC business registration online.For BC sole proprietorship or partnership registration, you will need:1. Your name approval request number 2. Your business name, exactly as approved by the Corporate Registry 3. The start date of your business 4. A real address in BC, not just a post office boxBC IncorporationBC incorporation takes longer and is a costlier process. For BC Incorporation, you will need to:1. Complete an Incorporation Agreement 2. Set out the company’s Articles of Incorporation 3. File an Incorporation Application
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