Key Requirements for Company Registration in Alberta: Everything You Need to Know 

• The requirements for company registration in Alberta are something entrepreneurs would have to consider when planning to go to this very dynamic and thriving province. With a dynamic and good economy backed by the mainstays of energy, agriculture, and tourism in technology, Alberta stood at above 400,000 in registrations as of 2023, which only speaks to the vitality of the market and entrepreneurial culture in this province. Alberta is appealing to new businesses because of business-friendly policies and an 8% competitive corporate tax rate for small businesses. Understanding how to register company in Alberta helps ensure compliance with this thriving region’s necessities. 

Requirements for company registration in Alberta 

There are various requirements depending on the business structure you choose for your business. Thus, if we look into the requirements of corporation the key requirements will be: 

• A corporation must have a minimum of one director without residency requirements. If the corporation has more than 15 shareholders, it must have at least three directors. 

• A corporation must have at least one shareholder without residency requirements. 

• Corporations must maintain a registered office address in Alberta. This address must be accessible to the public during normal business hours and can be a physical location or a designated agent’s address. 

• There are no minimum capital requirements. 

• Each corporation must appoint an agent for service who is a resident of Alberta. This agent is responsible for receiving legal documents on behalf of the corporation. 

• Corporations are required to file annual returns with the Corporate Registry to maintain their good standing. 

• Corporations must maintain proper books and records, including minutes of meetings, financial statements, and shareholder registers. 

If you want to mark your presence in Alberta, we at Tetra Consultants are determined to fulfill all your business needs. Thus, we can provide you with nominee director and shareholder services to fulfill your requirements for company registration in Alberta. 

Post registration requirements for company registration in Alberta 

Corporate bank account opening 

• Once you have incorporated your company in Alberta, you will be required to have a corporate bank account opening for your newly registered company. Our experts can provide you with a corporate bank account in 4 weeks after incorporating your company. 

Annual returns 

• Corporations in Alberta should submit annual returns to the Alberta Corporate Registry. In order for a company to have good standing, the submission of annual returns must be made within a definite time frame every year. Failure to do so may result in penalties, even dissolution of the corporation. 

Update corporate information 

Corporations must notify the Corporate Registry in respect of any change to its constitution or operation:  

• Amendment notices: They will inform changes such as addition, deletion, or substitution of directors, registered office address, and share structure. 

• Change notifications: They will include in the registry any significant changes, such as a name change or changes in business activities. 

Financial management and reporting 

Corporations must have sound financial management practices, including the following: 

• Accounting records: These include maintaining accurate accounting records and preparing financial statements in conformity with relevant standards. 

• Preparation and filing of tax returns: Must prepare and file federal and provincial income tax returns on an annual basis to the Canada Revenue Agency (CRA) and Alberta Treasury Board and Finance. 

Compliance with employment standards 

• For businesses that have employees, they are required to follow and be compliant with Alberta’s Employment Standards Code. Other mandates include wage rules, hours of work, extra pay for overtime, and rights of employees to various considerations. There are also necessary enrollments with the Workers’ Compensation Board (WCB) within 15 days of registering the first employee to guarantee workers’ compensation insurance. 

Agent for service 

• Every corporation that is present in Alberta must appoint at least one agent for service. This agent will receive legal documents on behalf of the corporation. 

Insurance requirements 

• The nature of the business determines the necessity of needing particular kinds of insurance cover for a corporation, such as general liability insurance, property insurance, or professional liability insurance to mitigate possible risks. 

Compliance with health and safety codes 

• Corporations should abide by the occupational health and safety regulations set forth under Alberta’s legislation in safeguarding their workplace for their employees. 

Membership meetings and record keeping 

• Corporations also had to host a yearly shareholder meeting and maintain records of all such meetings. Cooperatives were also required to have in-depth bylaws that framed internal governance, besides organizing member meetings. 

Business license and permit requirements for company registration in Alberta 

As you proceed for company registration in Alberta, you will be required to comply with various business license and permit requirements which may vary depending on the business structure and business activity you are engaged in. Thus, the business license and permit requirements will include: 

Business license 

• Most businesses operating within municipal boundaries have to obtain a business license. These include commercial enterprises, home-based businesses, and contractors. In most cases, local municipalities issue licenses, with such licenses expiring after an annual period as set by the issuing authority. 

Municipal licenses 

• The requirements for business licenses vary across each municipality in Alberta; it is therefore crucial to get in touch with the local authority at a specific location that will host a business to establish requirements. Businesses may also require zoning permits instituted by municipal bylaws, which ensure adherence to regulations on land utilization to ensure that properties are utilized correctly. 

Industry-specific license 

• Other sectors such as food service, health care, and construction require permits that are licensed or certified. Examples of such permits include health permits, food handling certificates, or building permits. Businesses that practice regulated professions such as law or engineering may have relevant bodies that control and standardize their activities. 

Development permits 

• Generally, the business needs a development permit even to get the business license, ensuring it meets the local zoning laws regarding residential areas and home occupations. 

Conclusion 

• Tetra Consultants will always be your one-stop shop while navigating the requirements for company registration in Alberta. Ensuring a smooth and error-free registration process, our team takes care of documentation, compliance, and any other formal legal work. With good business policies in place as well as a progressively growing economy, we will help you find a great future in this promising market.  

• Contact us to know more about requirements for company registration in Alberta and our team will revert back in 24 hours.