BC Personal Real Estate Corporation

No, there is absolutely no hidden fees. When you set up a corporation, there are many filings needed to be done. We offer all filing services into a single place. Therefore, in next steps, you have option to choose or not to choose those services. If you do not choose anything else, your price will remain as you see in the first page.

A BC Personal Real Estate Corporation must obtain a name approval from BC Government prior to registration. If you have already obtained a valid name approval, we can register your corporation in as fast as 2 business hours if you choose the fastest service speed Super-Express Queue. If we need to obtain the name approval on be half of you, we can submit and get a name decision from BC Government in 1 business day in Super-Express Queue. Once the name decision is positive, corporation can be registered in next 2 business hours.

Our lawyers, accountants and incorporation specialists will prepare your corporation's articles and agreements as per Business Corporations Act and regulations provided by the Real Estate Council of British Columbia (RECBC).

As per RECBC regulations, a BC Personal Real Estate Corporation must be a named company, and NOT a numbered company. The corporation's name must starts with the legal name of the controlling individual and end with the phrase personal real estate corporation. Hence, the name must be approved from BC government prior to registration. This step is called the name approval.

Yes, we do. The bylaws of a corporation are the governing rules by which the corporation operates. The bylaws of a corporation MUST be prepared in coherence with Business Corporations Act. As a onestop service provider, our lawyers can prepare bylaws, minute book, securities register for your corporation. You have option to add these as add-on services in next steps.

You have option to add share certificates, corporate embossed seals (desk seal & pocket seal), domain name reservation, professional email set up service etc. in next steps.

Yes, we offer annual service support for newly incorporated corporations. This support service includes legal, accounting and corporation update services. We offer annual service support at $199 if added in package, and $499 out of package.

Our accountants take care of all CRA program accounts. We offer services to set up your Corporate tax account (RC), GST account (RT), Payroll account (RP), Import-export (RM) program accounts with Canada Revenue Agency (CRA).

Yes, we do. WSBC account is mandatory for all employers in B.C. If your corporation plans to hire any employee (full time or part time), your corporation needs to register for WSBC account. As a onestop service provider, we offer the service. If this service is added, our accountant and incorporation specialists will set up the WSBC account on be half of you. Please note, we do not charge any premium, neither we can determine the premium amount. Upon our application, the WSBC authority will advise you on the premium amount and other information.

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 have option to add this service in next steps.

Yes, we do. If you do not have a local provincial address, we provide registered address and mail scanning service. Please click, on the form where says, "If you don't have address in this province, click here"

BC Personal Real Estate Corporation: must obtain a name approval from BC Government prior to registration. If you have already obtained a valid name approval, we can register your corporation in as fast as 2 business hours in our Super-Express Queue. If we need to obtain the name approval on be half of you, your corporation can be ready in 1 business day, if you choose Super-Express Queue.

Section 10.3 of the Real Estate Services Regulation requires that the legal name of a personal real estate corporation must include both, but nothing other than, the legal name, a recognizable short form of the legal name, or the licensee name of the controlling individual, and the term “personal real estate corporation”. Learn More from RECBC Website.

When you pay us to obtain the name approval on be half of you, we first do pre-search into Corporations Canada system and provincial name database. If the name gets conflict or high chance of being rejected, we will advise you to submit new names. That would be free of cost. However, once a name is submitted to government, a re-submission of new name will cost again fees for name approval.

As per RECBC regulations, a BC Personal Real Estate Corporation must be a named company. Hence, the name must be approved from BC government prior to registration. This step is called the 'name approval'. You cannot register a BC Personal Real Estate Corporation unless you have the name approved first.

It is the location where business is located. It can be a commercial rented place or home address. It can't be a P.O Box, must be a physical address. CRA documents will go to this address.

It is the location where corporation documents and records are kept. It can be a commercial rented place or home address. It can't be a P.O Box, must be a physical address.

BC Government gives an additional choice if you want all your mails to go to a specific address. This can be same as corporation's address or another physical address or a P.O Box.

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

If you do not have a local provincial address, we provide registered address and mail scanning service. Please click, on the form where says, "If you don't have address in this province, click here"

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

Typically, the principal owner or the director is the contact person. If you are incorporating for your client, we recommended to write here the principal owner or director's name. We do not contact this contact person, rather we will contact the person mentioned in billing details.

Foreigners can be contact person, incorporator, director, officer or shareholder. As per corporation act in this province, there is no Canadian residency requirement of directors for this province; and therefore, Canadian citizen or foreign nationals can be directors.

Directors supervise the overall management of the corporation, make all major decisions and assume certain liabilities. Each director has equal power and may require to be present during the opening of the bank account. Therefore, trustable and decision making individual(s) should be added to this role.

Yes. A director can be added or removed at a later time. That could be done through our website.

A director:

• must be be at least 18 years old.
• not have been declared incapable under the laws of a Canadian territory, or by a court in a jurisdiction outside Canada.
• must be an individual (a corporation cannot be a director) not be in bankrupt status.
• can be citizen or permanent resident or non-resident (foreign citizen).

Director must be an individual who is 18 year old or more.

Foreigners can be Incorporator, director, officer or shareholder. As per corporation act in this province, there is no Canadian residency requirement of directors for this province; and therefore, Canadian citizen or foreign nationals can be directors.

An incorporator is an individual or company who is requesting the government to incorporate this company. Only owners or shareholders can be incorporators. Generally, all the directors are the incorporators.

If you are doing for a client, you may choose 'all directors are incorporators'. We do not contact your clients, rather we contact the person in the billing address. You may write your details in billing address.

If you are incorporating a holding company, then you may choose the option, 'incorporator is another Company'.

Yes, it's mandatory as per corporation act. The bylaws, owners, shareholders, share structures and share classes are defined in minute book. If you do not select a Minute Book, the next step sections will skip assuming you will do the Minute Book with another firm.

When you incorporate a company, the expenses are called business development expense which is tax creditable. Any spending you do after incorporation, is considered as operating expense which are not tax creditable. Doing it separately later is a manual process which cost more and takes longer time.

Anybody including an employee can be an officer to the corporation. It's not as important as of director. It's changeable later at any time.

Any designation is fine. It's more important for a big corporation. It's changeable later.

Yes, same person can be director, incorporator, officer and shareholder. Most new corporation starts in that manner and changes when it grows bigger.

This is just initial set up. It's changeable later when company becomes big. Most people use $1 as initial price.

These are weaker than class A. Most people don't issue it in the beginning. Some people issue in case they are selling some of their shares to others.

It's weaker than class A and B. Most people don't issue it. Some people issue in case they are selling some of their shares to others.

Yes, share price and share number can be changed any time. Now you are setting up just initial price, any number is okay since you don't know how company will perform.

If you are the only shareholder, any number is okay, 100% owned by you. Most people put 1. It's changeable later. If more than one shareholder, put proportionately.

Yes. You can add or remove sharehodler 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.

Every corporation in Canada must have a business number from CRA. This is the identification of your corporation with Canada Revenue Agency.

All corporation must have corporate tax ID (RC 0001). This is like SIN number for an individual. It's required to report any income (even zero) of the corporation. Please note, this is the initial set up of tax ID which you need to provide to your accountant.

It's the initial set up for a GST account with CRA (RT 001). Every corporation must have a GST account to collect GST upon sales. Customer's invoice or receipt must show the GST number as well. Unable to collect GST, may cause penalty by CRA.

Payroll account (RP 0001) applicable in all cases. Even if you do not have employee, your own salary to be processed through payroll account. Please note, this is not payroll service, but the initial set up of payroll account with CRA.

If your business involves in importing or exporting physical goods, it (RM 0001) is required. The government uses this account to process the customs clearance.

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.

It's the initial set up for an PST account. Customer's invoice or receipt must show the GST and PST number. In applicable amount, CRA may impose penalty, if GST and PST are missed.

We are an agent of global domain registration. After your company name gets approved, we can instantly reserve a domain in your company name (example: www.companyname.com)

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

All B.C. 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.

It includes legal, accounting and corporation update services. Every new corporation receives notices from CRA, federal & provincial government, competitor business etc. As a small company, if you do not have your own lawyer and accountant, then our lawyer, accountant and corporation specialist here for you. It's a $399 dollar service, but only $99 with package.

Share certificates is the legal and official proof of ownership of corporation. You need it to show in any official purpose such as bank, contracts, mortgage etc. It's an absolute recommended items if you have more than one shareholder. We will send some blanks certificates as well which could be used in future in case you add any other person (such as spouse, child, friend) as shareholder.

Seal is a protection against fraudulent activity. It has legal value (by default defends) in case anybody create false docs or make false loan in your company name. It's highly recommended if your company has frequent transactions or provide receipt, invoices. It's also needed if you go for loan, mortgage, employment contract, service contract or any sub-contract.

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.