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    • How to Register a Business in British Columbia(BC): Sole Proprietorship & Corporation

    Starting a business in British Columbia, Canada, is an exciting venture, but it does come with the responsibility of choosing the right business structure and registering it properly. You have several options to choose from, including sole proprietorship, partnership, and corporation. In this guide, we’ll walk you through the process of registering a sole proprietorship, partnership, or corporation in British Columbia, discussing the associated costs and offering a convenient solution using Ownr.

    How to Register a Sole Proprietorship or Partnership in British Columbia (BC):

    Step 1: Choose and Reserve a Business Name

    A sole proprietorship is a business with a single owner, while a partnership involves at least two individuals in a business venture. To get started, you must first select and reserve a business name. If you plan to operate a sole proprietorship under your own name, you can skip this step. For all other cases, you need to request a business name reservation at a cost of $30. This process ensures your chosen name doesn’t conflict with existing ones. You will receive a name request number, valid for 56 days.

    Step 2: Register Your Business Name Online with the BC Business Registry

    Once you’ve secured your business name, you can proceed to register your business using BC’s registry services. Registration costs vary:
    • $40 for a sole proprietorship.
    • $165 for a limited partnership.
    • $275 for a limited liability partnership.
    Upon successful registration, you will receive a business number and a Statement of Registration.

    Step 3: Register with Government Partners

    To complete the registration process, you must register with local, provincial, and federal government partners. Detailed information on this step can be found in the Small Business Resource Handout.

    How to Register a Sole Proprietorship in BC Using Ownr

    Ownr is a user-friendly service that simplifies the process of registering a business in British Columbia and several other Canadian provinces. It offers convenience and cost savings compared to hiring a lawyer.

    How it Works:

    1. Visit the Ownr website and specify whether you are registering a new or existing business and its location.
    2. Select ‘Sole Proprietorship’ as your business type and choose a company name.
    3. Provide your name, email, and password to create your account.
    4. If needed, use Ownr to search for available business names (up to 30 allowed).
    5. Make the payment and submit your registration.
    6. Within one business day, Ownr will send you your sole proprietorship registration documents.

    Cost:

    Incorporating a business in British Columbia involves establishing a separate legal entity. This offers distinct advantages, including liability protection and potential tax benefits. Here are the steps to incorporate your business:

    How to Incorporate a Business in British Columbia

    Incorporating a business in British Columbia involves establishing a separate legal entity. This offers distinct advantages, including liability protection and potential tax benefits. Here are the steps to incorporate your business:

    Step 1: Choose Your Business Structure

    First, determine the most suitable business structure for your needs. You can compare different structures and consider your specific goals. It’s advisable to consult with an accountant for guidance.

    Step 2: Request and Reserve a Business Name

    Select a business name that adheres to legal requirements, including a brand name, a descriptive element, and a legal ending such as Inc. or Ltd. Request and reserve the name online for a fee of $30. It must be approved to ensure it doesn’t conflict with existing names, and you’ll receive a name reservation number valid for 56 days.

    Step 3: Establish the Articles of Incorporation

    The articles of incorporation serve as the rules for your company, outlining details about directors, officers, and shareholders. You may use a sample set or seek professional assistance. Different requirements apply to specific types of companies.

    Step 4: Prepare an Incorporation Agreement

    All incorporators who form the company must sign the incorporation agreement, which becomes part of the company’s records. Ensure it includes necessary information, such as each incorporator agreeing to take at least one share.

    Step 5: Apply to Incorporate

    Submit your incorporation application online using Corporate Online, with a fee of $350 or $1,000 for a ULC. Benefit companies should apply using the BC Registry application online, also costing $350. Alternatively, complete a paper form and enlist a lawyer or registry agent to submit it. Once approved, you will receive several documents that should be maintained as part of the company records.

    How to Incorporate in BC Using Ownr

    Ownr offers a simplified solution for incorporating your business in British Columbia. Follow these steps:
    1. Visit the Ownr website and specify whether your business is new or existing, and its location.
    2. Select ‘Incorporation’ and choose between a named or numbered company. If choosing a named company, enter your company name.
    3. Create your account by providing your name, email, and password.
    4. Utilize Ownr to search for available business names (up to 30 allowed).
    5. Pay the fee and submit your application.
    6. Review and confirm your name search report within one business day.
    7. Receive incorporation documents, including the articles of incorporation and instructions.
    8. Ownr also prepares corporation documents, such as the First Directors Resolution, First Shareholders Resolution, and more.

    Cost:

    The cost for provincial incorporation in British Columbia using Ownr is $699, plus tax. By signing up through the provided link, you can enjoy a 15% discount. Furthermore, opening an RBC Business Bank Account within 60 days after incorporation may qualify you for up to $300 cashback. Additionally, Ownr provides access to perks like discounts on phone plans and office supplies.

    FAQs:

    The registration cost varies based on the business type. Sole proprietorships cost $40, limited partnerships are $165, and limited liability partnerships are $275. Incorporation costs $350 or $1,000 for a ULC, with additional fees for name searches. Ownr offers a streamlined process for a fee of $49 for sole proprietorships and $699 for incorporation.
    A small business in British Columbia is typically defined as one with fewer than 50 employees.
    Yes, you should register your business in BC before starting operations. This requirement applies to sole proprietorships, partnerships, and corporations. However, if you are operating a sole proprietorship under your own name, you may not need to register a business name.
    Most municipalities in British Columbia require businesses to obtain a business license. This license permits you to operate within a specific municipality. Contact your city hall to determine the necessary permits for your area.

    Conclusion:

    Whether you’re establishing a sole proprietorship, partnership, or corporation, the outlined steps provide a clear roadmap to get your business registered in British Columbia. While the process may seem daunting for newcomers, Ownr offers a user-friendly, cost-effective solution to streamline
    the registration process and avoid common pitfalls. Consider using this service to save time and ensure a smooth registration experience for your BC business.
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