Starting a business in Alberta offers many opportunities due to its business-friendly regulations and strong economy. Whether you are launching a small business or a large corporation, proper registration is crucial to operate legally and protect your business. This guide outlines the steps to register your business in Alberta.
Step 1: Choose Your Business Structure
Before registering, you need to decide on a legal structure for your business. The common types in Alberta are:
- Sole Proprietorship– Owned and operated by one person; easiest and least expensive to register.
- Partnership– A business owned by two or more individuals.
- Corporation– A separate legal entity from its owners; offers limited liability.
- Co-operative– Owned and operated by a group for their mutual benefit.
Step 2: Choose and Register a Business Name
Your business name must be unique and comply with Alberta’s naming rules. To ensure its availability, conduct a NUANS (Newly Upgraded Automated Name Search) report, which compares your chosen name with existing businesses.
For a sole proprietorship or partnership, the name registration is optional if using only your personal name. However, for a corporation, a unique business name or a numbered corporation (e.g., 1234567 Alberta Ltd.) is required.
Step 3: Register with Alberta Corporate Registry
Once you have your business name, you must register it with the Alberta Corporate Registry. This can be done through an authorized registry agent. The registration process and costs vary based on the business structure:
- Sole Proprietorship & Partnership– Requires a Business Name Registration form.
- Corporation– Requires Articles of Incorporation, NUANS report, and a Registered Office address.
- Extra-Provincial Corporation– If your business is registered outside Alberta, you must file an extra-provincial registration.
Step 4: Obtain Business Licenses and Permits
Depending on your industry and location, you may need additional licenses and permits. You can check the BizPaL online tool for federal, provincial, and municipal requirements.
Step 5: Register for Taxes
If your business earns more than $30,000 annually, you must register for a Goods and Services Tax (GST) number through the Canada Revenue Agency (CRA). You may also need:
- Payroll deductions account(if hiring employees).
- Corporate income tax account(for corporations).
- Workers’ Compensation Board (WCB) coverage(if required for your industry).
Step 6: Open a Business Bank Account
To separate personal and business finances, open a business bank account. Most banks require:
- Business registration documents.
- A business number (if applicable).
- Identification of owners or directors.
Conclusion
Business Registration Alberta is a straightforward process that ensures legal compliance and credibility. By following these steps, you can start your business with confidence and focus on growth. If you need assistance, consider consulting a legal or business professional to guide you through the process.