Incorporating a BC Corporation will protect you against personal liability for your business debts and obligations.
You would be able to open an office or other permanent establishment in BC.
The corporate name will be protected in BC.
In order to be a named corporation, a BC Name Reservation Report is required. It takes 10 to 15 business days to obtain such report. Expedited services are available for an additional fee, dropping the time frame to 1 to 2 business days. You may add this report in the order form.
It takes 2 business hours to incorporate a company in BC upon receiving the approved Name Reservation Report.
An incorporator is an individual who initiates the incorporation process. An incorporator has no rights or powers in the corporation. A minimum of one person needs to be appointed as an incorporator.
A director is an individual who manages the company on a daily basis.
A minimum of 1 director is required to incorporate a company and must be 18 years old, of sound mind (mentally competent) and not in a status of bankruptcy.
President – an individual who is responsible for overseeing the decisions of the corporation and entering into contracts on behalf of the corporation
Secretary – an individual who is responsible for noting company formalities and maintaining the corporate records
Treasurer – an individual responsible for all accounting matters and for the funds of the corporation
One person may be appointed all officer positions in the company or you may appoint a different individual each position.
Shareholders are owners of the corporation.
Any individual or legal entity from any country may be appointed as a shareholder. However, if more than 50% of shares belong to a non-Canadian shareholder there is a much higher corporate income tax rate.