Incorporating a small business can be done fairly quickly with the help of a lawyer. While there are a number of steps involved, M.J. O’Nions Lawyer & Mediator has streamlined the process so that from the time of the initial appointment with our firm, the incorporation can be completed within one day. The steps involved in incorporating a business generally are as follows:

Consider whether incorporating your company will help you meet your business goals or whether another business structure may be better suited, such as a proprietorship or general partnership.

1. Decide which jurisdiction you would like to incorporate under: British Columbia, federal or another province. This decision will depend primarily on where you plan on carrying on business and whether you will be carrying on business in more than one province.

2. Perform a corporate name search to ensure the name you want for your corporation is not already in use. Submit your name choice, along with two back-up choices to the Registrar of Companies for approval. A company name must have a distinctive element, a descriptive element, and a corporate designation (i.e. “Limited”, “Incorporated” or “Corporation” or the abbreviations “Ltd., “, “Inc.” or “Corp.”).

3. Decide on a share structure, including the number of shares to be issued in each class and the issue price per share. Issue share certificates and obtain written confirmation of payment for incorporator’s shares.

4. Select the director(s) and obtain written consent to act as director. The director will be responsible for overseeing the officers who are in charge of day-to-day operations and the corporation’s employees. The number and qualification of the directors should comply with the Business Corporations Act. Update the Register of Directors with the names and addresses of the newly appointed directors.

5. Draft an incorporation agreement, incorporation application, and notice of articles, and articles. The terms of such documents are typically fairly standard, however you may wish to make changes to provisions regarding quorums for general meetings, rules about notice and conduct of general and class meetings, rules relating to appointment or removal of directors, etc.

6. Draft the director’s resolutions and incorporator’s resolutions, which authorize the incorporation, and have them signed by the appropriate individuals.

7. Register the corporation with the Corporate Registry online.

8. Prepare a minute book that contains all company records that are required to be stored at the records office under s. 42 of the Business Corporations Act.

While the process for incorporating a company is streamlined, you will have to make a number of important decisions along the way about how you would like to structure your business.

Included in our flat fee, M.J. O’Nions, Lawyer & Mediator can advise you on how to make decisions that will benefit your small business in the long-term and encourage your business to grow. Please contact us at 604-449-7779 for assistance with incorporating your business.