Saskatchewan PREC

• This is the most cost effective package.
• In this package, your corporation is registered 'as Is' submitted by you
• This package is more suitable for an individual who has experience and knowledge about the incorporation process

• This ensures 'peace of mind' with a small additional fee.
• Our legal and accounting team review the order to avoid compliance issues.
• Suitable for an individual who is incorporating for first time
• Does NOT imply any legal advice or client-lawyer relationship

As per Business Corporations Act., there is no legal requirement to retain a lawyer to incorporate a company. Any person above 18 years old may incorporate a company by himself or herself.

Yes, we do. Our legal team prepare the articles of incorporation, bylaws and minute book. You have option to add a corporate binder as well in next steps.

You can add share certificates, corporate seal, domain name reservation, professional email etc. in next steps.

Yes. You are never hooked up with us unlike some other competitors. We provide you free company key, and any time you can manage the corporation by yourself. If you need ongoing support, you have option to add the annual support package in next steps.

This package includes setting up CRA business number and corporate tax ID for your corporation for free. To run our business effectively, you may require other CRA program accounts such as GST account, payroll account, export import account etc., which can be added to the package in next steps.

• Registering with Workers' Compensation Board (WCB) is required for most businesses in Saskatchewan within 10 days of hiring their first employee.
• WCB registration is more important for small businesses and start-ups to provide financial security in the event of a workplace accident.
• WCB account set up can be added in the package in next steps.

If you sell Products or Services in Saskatchewan, the PST Account is Required.

Numbered Company: The company number is used as the name of the company. This would be a random generated number after registration is done. (e.g., 1265168 Saskatchewan LTD.). A numbered company does not need name a approval and hence, can be registered faster than a named company.
Named Company: You can choose a name for your company (e.g., John Abraham Construction Ltd.). It creates a brand value which is protected by the Government. A named company is registered in two steps: obtaining a name approval (unless you have already obtained it) and completing the registration.

Name must be unique, should not be similar to other businesses. Name must have the following components:

1. A unique or distinctive word such as made-up word or a person's name.
2. Second part of the name describes the service your business is offering.

Examples of acceptable name ideas are: ABCXYZ Home Renovation, Sarah's Mexican Restaurant, North Vancouver home renovations Sample

In Saskatchewan, to operate a business with a name, the name must be submitted to Registry services for approval. This is the fist step of a company or business formation. This process involved:

• Submitting a name request application to Registry Services. 3 choices of names can be included per submission.
• Registry Services, they will check the availability of your business name and determine whether it is valid for registration (see our name rules section for more information).
• Once Registry Services has processed the name submission, you will receive a Name Request Number (NR number) which is valid for 56 days within which the name can be used for registering a company.

All corporate names must end with a word or abbreviation known as legal suffix. All the six suffixes mean the same thing. So choose the one you want based on marketing considerations or personal preferences.

This is the primary and major activity of your business. Please be concise and to the point to avoid delays. You may mention only one activity in single or two words as we have to select the closest activity from the government system.

All Corporations in Saskatchewan need a Physical or street address in the province, it can be rental place or home address.

Yes, this address can be changed later. In many cases when commercial place is not rented yet, residential address is given.

Yes, you have the choice to renew it on an annual basis. Normally, the price remains same.

Usually Director is the contact Person of the Corporation, it can also be a service provider like an accountant or a lawyer. It can be a Canadian Resident or Non Resident.

A director must be person of :

• at least 18yrs of age.
• of sound mind or mentally stable.
• not declared in a state of bankruptcy.

Yes. A director can be added or removed at a later time.

An Incorporator can be an Individual or another Company, usually all Directors are Incorporators.

Officers in a corporation manage the daily activities of the corporation. They can also be part of the board of directors. The common Officers titles are President, Secretary, Treasurer, VP, CEO.

There are not hard and fast rules on titles of officers. You can use whatever title you wish for the officers. However, almost all corporations have an officer titled ‘President’, which might be useful for the operation of a corporation or when preparing legal contracts/documents.

Unless there is a specific reason for it, same title for more than one officer is not advisable.

Once the corporation is registered, the Articles of Incorporation is also registered with government. The articles of an incorporated business could be changed with proper filing (Articles of Amendment) and fees.

The "Advanced Articles of Incorporation" allows to issue class A common voting share and class B common non-voting shares. If you want to customize common/preferred/voting/non-voting/custom share class names etc., you may choose "set my own text " option. The custom share structure option will be displayed in next steps.

Because a corporation a legal entity by itself and separate from its owners, therefore, it could owned only through its shares. The corporation's assets and stocks are split into pieces and each of these pieces is called share. If a corporation issues 100 shares with $1 each, the total net worth of the corporation is 100x$1=$100.

Most people issue share at $1 price in the beginning.

Yes, you can do so. For the simplicity of incorporation, commonly $1 is set as the initial share price. Eventually, the share price and share numbers could be changed.

Class A common voting share owners have voting rights to change the corporation's policies and rules. Class B common non-voting share owners do not have such rights.

Most People put 1 as Shares, but can be any Number. Share cannot be fraction. If you are the only shareholder then you own 100% of the Shares.

Yes. You can add or remove Shareholder later at anytime.

Total share is calculated by adding up each shareholder's share number. Example: your share is 60, your spouse's share is 40. Then total shares = 60 + 40 = 100. In this case, you hold 60% and spouse holds 40%. If more than one shareholder and you want to assign in percentage, make total share number as 100.

If you sell products and services in Canada and collect GST from your Customers, then GST Account Number is Required.

If you hire Employees including yourself, then you need a Payroll Account Number.

If you Import Goods into Canada, then you need an Import Account Number. You can not Export Goods with this Number.

If you Export Goods out of Canada, then you need an Export Account Number. You can not Import Goods with this Number.

Two major benefits. 1. Tax claimable: cost that occurs during business set up, is called Business Development Expenses, is tax claimable. Costs that occurs after business already registered, is called operational cost, is not tax claimable. These costs will occur at any way, since these are mandatory filing, therefore, it's wise to include in package. 2. The default process is, these filing to be done together with corporation; hence, it's cheaper in package. To do this services later; there are manual forms and process; hence, costs more money and takes longer processing time.

If you sell products or services in the province in Saskatchewan the PST Account is Required.

It's WCB registration. If your corporation plan to have employees now or in future, it MUST register with WCB. We register and give you the account number and hook you with WCB authority. Please note, it does not cost monthly premium fees, rather WCB authority will advise on your eligibility of free program or fees.

All Saskatchewan companies are required to have a central securities register. If your company does not have one, you will need to create one. Please consult section 111 of the Business Corporations Act for the requirements.

After your company is Registered we can instantly apply for a Domain Name. We do our best to get this Domain Name matching your corporation Name. (example: www.businessname.ca).

Professional Email Address is the one with your Corporation Name in it. (Example: custom@yourbusinessname.ca).

A new company often needs support from legal, accounting and incorporation team. The support services includes guidelines, directions and responding to the notices received from government, CRA, competitors etc. Please note, the support service should not be considered as 'legal advise'. Our lawyers prepares documents as in-house legal counsels and do not represent the clients.

Every corporation has to file its annual return with Government Canada every year. Filing an annual return avoids the potential administrative dissolution of a business.

A Share certificate is a physical document issued on behalf of a corporation which shows the number of shares owned by a Shareholder. A share certificate is also referred to as a stock certificate.

A Corporate Seal is an embossing tool that a Corporation may use to stamp important documents. This Seal bears the Corporation name and Province. Companies use their seal to certify important documents.

Supplies (physical minute book, share certificate, corporate seal) will be shipped by Canada Post (expedited) and you will receive a tracking number in your email. Please note, this address is for shipping of supplies only. Government documents always go to corporation's address.

Supplies (physical minute book, share certificate, corporate seal) will be shipped by Canada Post (tracking number goes in your email). Please note, this address is for shipping of supplies only. Government documents always go to company's address.