Every incorporated business must have a name that legally identifies it. This is called a corporate name. A numbered name is the simplest way to name your corporation because Govt. assign the number.
Named Corporation:
Every incorporated business must have a name that legally identifies it. This is called a corporate name. Word name, made up of letters and symbols. It has to be distinctive and must not cause confusion with other names or trademarks. The name also cannot include prohibited terms. For example, John Smith Personal Real Estate Corporation.
Nuans Reservation Report:
A Nuans Reservation report provides a list of existing corporate names, business names and trademarks that are similar to the one being proposed. The report is necessary for federal and Provincial name corporations. It is valid for 90 days only. Getting a Nuans Reservation Report does not mean that your name is pre-approved or approved by Corporations Canada.
Minute book:
Corporations often maintain their corporate records in a single book, referred to as the “Minute Book” of the corporation. Your corporation is a separate legal entity that must fulfill certain obligations under the Canada Business Corporations Act (CBCA). Your corporation must keep certain corporate records at its registered office (or at some other location in Canada, as set out by the directors). These records are;
articles of amendment, including amended articles of incorporation or restated articles of incorporation
by-laws and their amendments
any unanimous shareholder agreement
minutes of meetings and shareholder resolutions
Annual Return:
In order to keep the corporation active and in good standing, the corporation must file an annual return after the anniversary date. This return not related with income. This is other corporation information: address, director, officer.
CRA Business Number:
A unique, 9-digit number and the standard identifier for businesses which is unique to a business or legal entity. Every business must need these unique identifiers in order to open other CRA accounts such as a PST/GST account and/or Payroll account.
Corporate Tax ID:
Every business needs a Corporate Tax ID in order to file an Income tax return for the corporation.
PST/GST Account:
You have to register for a PST/GST account if You make taxable sales, leases, or other supplies in Canada.
Payroll Account:
If you are a trustee, an employer, or a payer of other amounts related to employment, you have to register for a payroll account with CRA. This is deduction account to process payroll.
Dividend Account:
Divided account in order file divided amount to CRA, this will be your legal obligation.
WorkSafe BC Account:
As a small business owner, you need affordable workplace insurance you can rely on to protect you and your workers. The WorkSafe BC for you providing guaranteed no-fault workplace insurance that protects you from costly court settlements and provides services and support when you need it. Most businesses that have employees (including family members and sub-contractors) must register a WorkSafe BC account.