Business Start Up & Incorporation in Calgary

You’ve got your idea for a business, but don’t know what to do next? Contact our small business accountants in Calgary to get the ball rolling.

We can help you decide on the best business model (personal business or incorporated), and guide you through the next steps, ensuring that all details have been addressed and taken care of. From name search to Business Number setup, we can ensure that attention is given to all of the important aspects of starting a business in Calgary and surrounding area.

With our Basic Incorporation Package, you will receive:

• A consultation with one of our accountants prior to incorporating to ensure that all important aspects have been reviewed & decided upon.

• A Minute Book containing the corporate registration information and other corporate records

  • Shareholder ledger

  • Share Certificates

  • Director ledger

  • Business Number registration

  • GST & Payroll account setup

  • WCB Registration

A detailed summary sheet of account numbers, filing periods, payment & filing deadlines for all corporate government accounts

Before incorporating, consideration will need to be given to the following aspects of a corporation:

1. Do I want a named corporation or a numbered corporation?

   • If you want a numbered corporation, the number will be automatically assigned by the province of Alberta.

   • If you want a named company, we will ask for 3 name options

   • These name options can be similar, and should end in Ltd., Inc. or Corp.

     • My Favourite Accountant Inc.

     • Favourite Accountants Inc.

     • The Favourite Accountants Inc.

   • We will always try to use your first choice, but if a company with a name too close in similarity already exits, we will try your second or third choices if needed.

2. Who will the shareholders be?

   • through the options to find the best scenario for you. It is also possible to set up the share structure and issue shares to shareholders at a later date.

   • Shareholders can include:

     • Just you

     • You and a business/life partner

     • Children (minors or adults)

     • Other individuals or corporations

   • Who will the corporate directors be?

     • A corporate director is someone named on the corporate record as authorized to represent the corporation. This means this individual can sign tax returns, speak with government agencies regarding the corporation, and may be able to access banking or other financial information & records.

     • Many corporations exist with only 1 director, however in the case of sudden illness or worse, having a second or more directors who are able to sign tax returns, authorization documents & carry out government correspondence is of great benefit.

     • Directors can include:

       • Just you

       • You and a business/life partner

       • A 3rd party (A trusted family member or friend who has the knowledge & understanding of the obligations of a corporation but may not be otherwise involved with the carryings on of the business.)

3. Who will the corporate directors be?

   • A corporate director is someone named on the corporate record as authorized to represent the corporation. This means this individual can sign tax returns, speak with government agencies regarding the corporation, and may be able to access banking or other financial information & records.

   • Many corporations exist with only 1 director, however in the case of sudden illness or worse, having a second or more directors who are able to sign tax returns, authorization documents & carry out government correspondence is of great benefit.

   • Directors can include:

     • Just you

     • You and a business/life partner

     • A 3rd party (A trusted family member or friend who has the knowledge & understanding of the obligations of a corporation but may not be otherwise involved with the carryings on of the business.)

4. What government accounts will I need?

   • When a Business Number is registered with CRA a Corporate Tax account is automatically opened

   • Will you need a GST account?

   • Will you need a payroll account?

   • Will you need Workers Compensation Board coverage?

These are all questions our team of Calgary accountants is happy to work through with you; however it can be helpful if you have given some thought to this before we meet with you to discuss these options.