Tuesday, July 28, 2009

Now Incorporated

I am now officially a corporation as I went to KVP (kvp.ca) last night after work and submitted the necessary documentation, along with associated processing fee. While doing this I found out that it is actually a 2-step process; NUANS search which takes 2-4 hours for results and then the incorporation itself. Total cost was just under $300.

NUANS is valid for 90 days after the search has been done and if you want you can do it yourself at https://www.nuans.com/rts-str/en/home-accueil_en.cgi for $20 after creating an account.

I had to do some additional research on the benefits of incorporating Federally versus Provincially and unless I plan to open offices in other provinces, there is no reason to incorporate Federally and then have to Register in Alberta as an Extra provincial corporation. In addition, extra provincial incorporation cannot be done by yourself - at least most Corporate Registries in the province look askance at you, which would mean having to hire a lawyer to end up in the same place I am now. IF I need to expand in the future to other locales, I will be in a better position to afford said lawyer.

Next step is to open a bank account on Friday when I am in Wainwright taking possession of our new house. BTW, our house here in Edmonton sold to the second viewer for very close to our asking price.

Of course I will soon get an information package from the Federal government to register for a tax account (GST, Payroll taxes etc.) Those will be other postings on how that process proceeds.

No comments:

Post a Comment