What is an extra-provincial corporation?

What is an extra-provincial corporation?

Updated on October 21, 2018. Extra-provincial registration is a process of incorporation in Canada that both Canadian corporations in Canada and foreign corporations have to go through when they seek to do business in Canada or in various provinces or territories throughout Canada.

How much does it cost to incorporate a business in New Brunswick?

New Brunswick corporations have a government incorporation fee of $260. Named corporations also require an additional search report at a cost of $30.

How do I incorporate my business in New Brunswick?

Incorporating your company provincially in New Brunswick is a six-step process.

  1. Get an New Brunswick NUANS Report.
  2. Completing your New Brunswick articles of incorporation.
  3. Establishing the initial registered office address and first board of directors.

How do I move my business to another province?

Extra-Provincial Reciprocal Agreements Generally, before you conduct business in a Canadian province or territory, you must register your corporation and get a business licence in Canada. Some provinces have extra-provincial registration agreements, making it easier for you to operate across provincial borders.

How do I dissolve a corporation in New Brunswick?

To obtain a certificate of intent to dissolve, complete and sign Form 19 – Statement of Intent to Dissolve (see Federal corporation forms) and submit it to Corporations Canada. Do not submit copies of the directors’ resolution or shareholders’ special resolution with the applications.

What is the difference between certificate of incorporation and business registration?

The main difference is that incorporation creates a separate legal entity. Creating a corporation also protects the business owner from losing personal assets if the company is sued. Business registration does not offer the same protection of personal assets.

Can you be incorporated in two provinces?

Doing Business in Other Provinces. If you choose federal incorporation for your business or nonprofit corporation, you can open a registered office location anywhere in Canada, and operate in more than one province or territory without changing your corporate name.

Can you change provincial corporation to federal?

If you decide to expand, you can always change your Provincial corporation to a Federal corporation and vice versa. To do so, you need to apply to both federal and provincial governments to get approval, which will be a costly and time consuming process.

What does it mean for a corporation to be continued?

Upon completion of a continuance, the corporation is no longer governed by the corporate laws of its incorporating jurisdiction (or the jurisdiction it moved from); it is governed by the corporate laws of the jurisdiction the corporation moved to.

Can I own a business in another province?

If your corporation’s home jurisdiction is British Columbia, Manitoba or Saskatchewan, there are special streamlined processes for you. You can register your corporation in Alberta through Alberta’s Online Extra-provincial Registration. There is no cost to register or update your corporation in Alberta.

How to do business in New Brunswick as an extra-provincial corporation?

If you want to do business in New Brunswick and are incorporated outside of the province, you will need to register your business as an extra-provincial corporation. The New Brunswick Business Corporation Act requires extra-provincial corporations “carrying on business” in New Brunswick to be registered under the NBBCA.

How do I file an annual return for an extra-provincial corporation?

Business Corporations Act. To file an annual return for an extra-provincial corporation for the current or previous years, you will need the following: * The New Brunswick Business Number for the Corporation. or. The Corporate Registry reference number from the statement of registration or annual return form.

Where do I register a business in New Brunswick?

Corporate Registry. Corporate Registry incorporates New Brunswick-based business corporations and non-profit companies, and registers partnerships and business names under which sole proprietorships and partnerships operate.

What are the reporting obligations of an extra-Province Corporation?

Provisions exist under the Act detailing the registration process for extra-provincial corporations. Once registered, the corporations has reporting obligations, such as the filing of an annual return.