Business Incorporation and Annual Returns
Vancouver Island is a fantastic place to live and to run a business. Are you ready to take the next step of incorporating?
There are often significant legal and other benefits to incorporating your business. Incorporation can offer a layer of protection between your business and personal assets. There are also sometimes taxation benefits.
From incorporating your company and all that entails to maintaining your corporate records on a yearly basis, we can help. Contact us about incorporating your new company or maintaining the one you already have!
What is a Corporation?
A Corporation or company is a business entity created to separate the entity doing business from the people who own the business. A company can own and operate a business. The owners of a company are separate from the company therefore if the business loses more money than the company has, the owners lose nothing.
What are my responsibilities?
Once your company is incorporated it must be maintained yearly to be considered “in good standing” with the British Columbia Registrar of Companies. If your company is not in good standing it may limit the things the company can do, such as borrowing money or entering into agreements.
This yearly maintenance consists of making sure all necessary documents are kept in the corporate record book. These included Minutes of the Annual meetings, Consents to act as directors, updating the Register of Directors and the Register of Shareholders, and maintaining the Central Securities Register. In addition, other resolutions may be required to be done in specific circumstances.
Meet us to review your business structure
You can book an appointment with us online. First 15 minutes free. Longer appointments available at a charge.
Office appointments are held at our office at 401-17 Church Street in Nanaimo.