Incorporating your sole proprietorship in Calgary, Alberta, can bring a range of benefits, including personal liability protection and potential tax savings. Whether you’re looking to expand or simply reduce risk, incorporation is a smart move for any growing business. Here’s how you can incorporate efficiently.
Step 1: Decide if Incorporation is Right for Your Business
As a sole proprietor, you are personally responsible for all of your business’s debts and liabilities. By incorporating, you protect your personal assets and establish your business as a separate legal entity. This separation can be crucial if you plan to grow your business, take on larger risks, or hire employees.
Step 2: Choose a Business Name and Complete a NUANS Search
Before you can incorporate, you’ll need a unique business name. A NUANS search ensures your chosen name is not already in use by another company in Alberta. Securing a distinctive name helps protect your brand, and it’s a required step in the incorporation process.
Step 3: Prepare the Articles of Incorporation
Your Articles of Incorporation are a formal document outlining your business’s structure, including share distribution and details about directors. It’s essential to get this right, and that’s where we come in. Our team ensures your articles meet all legal requirements, making the process straightforward and hassle-free.
Step 4: Submit to Alberta Corporate Registry
After finalizing your documents, you’ll need to file them with the Alberta Corporate Registry and pay the required fees. This is the official step that turns your sole proprietorship into a corporation. We handle this entire process for you, ensuring your business is properly registered, so you don’t have to worry about the details.
Step 5: Register for a GST Number and Local Licenses
Once incorporated, you may need additional local business licenses, depending on your industry and location. If your revenue exceeds $30,000 per year, you’ll also need to register for a GST number with the Canada Revenue Agency. We guide you through these necessary steps, ensuring everything is in order for your business.
Step 6: Maintain Corporate Records and Compliance
After incorporation, keeping your corporate records updated and complying with annual filings is essential to staying in good standing with the Alberta government. Managing this can be time-consuming, but with our ongoing support, we ensure your records are always compliant, saving you time and effort.
Key Takeaways:
- Incorporating protects your personal assets and provides potential tax advantages.
- We help with everything from conducting a NUANS search to filing your Articles of Incorporation and maintaining ongoing compliance.
- Let us simplify the incorporation process so you can focus on growing your business.
Ready to incorporate your sole proprietorship and take your business to the next level? Contact us today, and let our team handle all the complexities of incorporation, giving you peace of mind to focus on your success.
