Frequently Asked Questions
Do I need to incorporate my business?
No, but there are tax, business planning, and legal benefits to incorporating your business. A lawyer can help you understand the specific benefits and drawbacks of incorporating your business.
How much does it cost to incorporate a business?
In Alberta, there is a $275 government fee for incorporating a business. There is also a fee for getting a NUANS report and any applicable legal fees.
Can I pick any name for my corporation?
You can either choose a numbered company, for example, 12345 Alberta Ltd. or a proper name for your corporation. In Alberta, a corporation name must be distinctive, descriptive, and legal. A
NUANS report can help you prevent issues with identical or similar names.
All Alberta corporations must have a legal element at the end of their name, for example, ltd. inc., or corp. Only specific professions can use the professional corporation legal element.
Should I incorporate my business at a federal level?
That depends on the scope of your business operations and the plan for your business. If you own a small business that only operates within your province, you probably don’t need federal incorporation.
On the other hand, federal incorporation may be a better fit for your business if you operate in multiple provinces, internationally, or have plans to expand your business to other parts
of the country. An incorporation lawyer can help you determine the right way to incorporate your business.