The following links will open the Service Alberta website in a new window.
A corporation, also known as a Limited Company, is a legal entity created by the filing of certain documents and is separate and distinct from its members (shareholders).
Being a legal entity a corporation has the same rights, powers and privileges of an individual while having certain tax and financial advantages. Any business operation carried on for profit can become a corporation.
Ownership interests in a corporation can usually be changed easily. Each shareholder has limited liability and shares can be transferred without affecting the existence or continued operation of the corporation.
A partnership is a contractual agreement in which two or more persons combine their resources in the management of a business venture with a view to making a profit.
The partners own all the assets of business, share profits and are jointly and separately liable for the debts and liabilities of the partnership.
A debt of the partnership can be collected from any partner or any combination of the partners as each partner is personally liable for all the obligations and debts of the business. Essentially, an individual partner acts on behalf of the partnership and on behalf of the other partners.
The partnership contract can be dissolved upon expiration of the partnership agreement or sooner with the mutual consent of the partners.
The simplest way to set up a business is as a Sole Proprietor. When an individual operates a business without any formal business structure. that person operates a sole proprietorship and is said to be self employed.
The sole proprietor secures the capital, operates the business, assumes all risks, receives all profits, accepts all losses, and pays all taxes.
Unlike a registered corporation, a sole proprietorship is not a distinct entity apart from the individual. As a sole proprietor the individual is responsible for all debts & obligations related to the business.
A creditor with a claim against a sole proprietor would normally have a right against all of his or her assets, whether business or personal. This arrangement is known as unlimited liability.
When a company has been dissolved or struck and you intend to revive it, you must complete Articles of Revival.
If 3 or more years has passed since the company was dissolved or struck a new nuans report must be submitted.
All outstanding annual returns must be filed.
NUANS is a computerized system that searches, for the purposes of Corporate Registry, a database of existing corporate names against the proposed corporate name.
The search is to determine if there is any similarity that may exist between the proposed corporate name and existing names in the database.
In most cases, If the proposed corporate name has not been taken, the NUANS report will, for a period of 90 days, reserve the proposed corporate name for the individual that has requested the report.
The alternative to having a named company is to have a "Numbered Company" the advantage being that a NUANS is not required. The company number would be assigned at the time of registration.
Each and every year, on the anniversary of incorporation, a company must file an Annual Return in order to maintain it's active status.
An annual return provides information about a corporations shareholders and extra-provincial registrations, or directors and/or officers for non-profit companies and societies.
A month prior to a corporations anniversary, a pre-printed form will be dispatched by the government to the corporations mailing address or registered office.
If your reminder has been lost or not received, Click here to download a form. Once you have completed the form, simply return it to Ardiel Agencies for filing with the government.