BC Standard Corporation Package (Juff Copy)

Most people choose a numbered company with a trade name to take advantage of faster incorporation process and skipping the name approval part. If you do not choose a name for the company, the corpiration number becomes the name of the company. An example of a numbered company with trade name is 987654 Ontario Inc. o/a The biggest advantage of a numbered company is is skipping the Nuans name search and name approval step. Therefore, the incorporation process is relatively faster and less expensive. However, the biggest disadvantage of a numbered company is, it does not have have a brand name for the purpose of marketing, business signs, and developing a brand.

a) This allows shorten the name for the purpose of advertisement, business signs and brand development.

b) We found, many business owners add it for the easiness of obtaining the municipal license or permit.

c) Registering a trade name creates an opportunity of geting a trade mark in future.

To register a corporation, at least one director's information is mandatory. In future, you can add or remove director from your corporation. If you include "complete maintenance" services (in next steps), you may add/remove a director at free of cost in future.

If you sell products and services in Canada and collect GST from your Customers, then GST/HST Account Number is Required. Customer's invoice or receipt must show the GST/HST number. Unable to collect HST may cause penalty by CRA.

You must register to collect PST if you are located in B.C. and you sell or lease taxable goods, or provide software or taxable services in the ordinary course of your business in B.C. You may also need to register if you’re located outside B.C. Your PST number is 11 characters long and is in this format: PST-1234-5678.

If your business involves exporting physical goods, it is required. The government uses this account to process the customs clearance.

Registering with WorkSafe BC is required for most businesses in BC within 10 days of hiring their first employee. Some types of businesses are exempted from mandatory registration with WSBC based on the activities (Examples are banks, insurance companies, hair salons (with exceptions), private schools or daycares, travel agencies, etc.) but many employers in these industries choose to register with the WSBC anyways for protection to their workers. WSBC registration is more important for small businesses and start-ups to provide financial security in the event of a workplace accident.