Register Company in Alberta

• Choosing a unique name for the incorporating company. The reservation of the company name is done through the Alberta Corporate Registry. The name reservation request needs to be submitted, and in some cases, a NUANS report is also needed to ensure that the concerned name is not used by someone else. 
• Tetra Consultants will help in the preservation of your business name. Along with providing company secretarial services and local registered addresses will additionally assist with the provision of nominee director services. Our skilled team will assist you in preserving your business name in order to use the preferred business name for registration of business. 

• Preparation of Article of Incorporation, which outlines the corporation structure, share classes, and other essential details of the company. As a foreigner, an individual needs to comply with specific requirements for non-resident incorporators. Along with this, the company also needs to prepare incorporation agreements and prepare bylaws, which detail the corporation’s governance and operating rules. 
• Tetra Consultants can help you in assisting the company with various compliances and documents. Every specific business requires a specific documentation requirement which is necessary in order to commence a business. Thus, Tetra Consultants might be of great help to you guys in incorporating your business. 

• All foreign entities who wish to register company in Alberta need to have an agent for service who resides in Alberta. The agent can be a legal entity or any individual located in Alberta. The agent is not required to be a solicitor and must be eligible to receive correspondence on the company’s behalf. 

• Tetra Consultants will assist in preparing all the necessary documents required for registration with the Alberta Corporate Registry. This includes drafting the Articles of Incorporation (Form 1), Notice of Address (Form 2), and the List of Directors (Form 3). Our consultants will ensure that these forms are submitted to the registry along with the applicable fees, which may vary depending on the nature of the business. Additionally, we will facilitate the submission process, ensuring full compliance with all requirements
• Our team of experts is dedicated to helping businesses successfully incorporate and become fully operational, making the process seamless for our clients.

• Once the company gets incorporated, the business requires a business number that will be authorized by the Canada Revenue Agency (CRA). Further, the business is required to register for various tax accounts, such as goods and services tax or payroll taxes. The tax account depends on the company’s activities and revenue of the company. 
• Tetra Consultants professionals and executives can help businesses obtain offshore financial licenses. Tetra Consultants will completely assist your company in applying for a business license. Moreover. once your company has been registered for tax, Tetra Consultants will continue to assist your company in meeting its annual accounting and tax obligations.

• Once the entity is registered, you can proceed with the corporate bank account opening. Tetra Consultants will assist in consolidating the documents and opening a corporate bank account with a reputable bank of your choice.
• For many banks in Alberta, the people prefer local banks over international banks as they are much more accessible. The documents required for opening such a corporate account include a business registration certificate, articles of incorporation, trade name registration certificate, and Canada Revenue Agency (CRA) registration number. Opening a corporate account in many banks may require an in-person visit for proof of identity and for a meeting. 
• Once the bank account has been successfully opened, Tetra Consultants will courier the internet banking token and access codes to your preferred address.

Post-Registration Obligations in Alberta 

To operate legally and maintain good standing, corporations in Alberta must adhere to several compliance obligations which are as follows: 

Annual returns 

• Companies are expected to file annual returns with the Alberta Corporate Registry. For maintaining good standing, it is obligatory for the companies to file within a specified timeframe each year. Failure to do so may incur penalties, even leading to the 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: Inform changes such as addition, deletion, or substitution of directors, registered office address, and share structure. 
  • Change notifications: Include in the registry any significant changes, such as a name change or changes in business activities. 

Financial management and reporting 

• Corporations must maintain robust financial management practices, including:
  • Accounting Records: Keeping accurate financial records and preparing financial statements in accordance with applicable standards. 
  • Tax Returns: Prepare and file federal and provincial income tax returns annually to the Canada Revenue Agency (CRA) and Alberta Treasury Board and Finance. 

Compliance with employment standards 

• For businesses employing workers, compliance with Alberta’s Employment Standards Code is mandatory. Some additional requirements include regulations about wages, hours of work, overtime pay, and various rights of employees. Employers must also register with the Workers’ Compensation Board (WCB) within 15 days of hiring their first employee to secure workers’ compensation insurance. 

Agent for service 

• An agent for service must be appointed by every corporation that is residing within Alberta. This agent receives legal documents on behalf of the corporation. 

Insurance requirements 

• The nature of the business determines the need for specific types of insurance cover for a corporation, such as general liability insurance, property insurance, or professional liability insurance to mitigate potential risks. 

Compliance with health and safety codes 

• Corporations should observe the occupational health and safety regulations as set forth under Alberta’s legislation to keep their workplace safe for the employees. 

Membership meetings and record keeping 

• Corporations also need to hold a yearly shareholder meeting and keep detailed minutes of such meetings. Cooperatives also needed to have detailed bylaws to govern internal governance and member meetings. 

Licensing and permits 

• Corporations must also establish that all necessary business licenses and permits are obtained, maintained, and renewed according to local municipality or industry-specific requirements. 

What are the minimum regulatory requirements to register company in Alberta? 

Appointing director

• In order to register a business in Alberta, there is no requirement for a local resident director. 

General requirements

• The appointed agent must be an individual resident of Alberta with a mailing address for service within Alberta.
• No minimum capital requirement to register a corporation in Alberta.
• At least one director who can be an individual or corporation and need not be a Canadian resident.
• At least one shareholder with no maximum limit can be foreigners as well.

Specific requirements

• For private companies to register a business in Alberta there are minimal requirements to be met if you are considering how to register company in Alberta. 
• A private company can have one or more shareholders.
• Shareholders can be individuals or other corporations.
• There is no residency requirement for shareholders in Alberta.
• If the investment comes from a designated Canadian venture capital fund, a minimum investment of CA$200,000 is required.
• A minimum of one director must be above 18 years of age and of any nationality. 

What are the documents required to register company in Alberta?

The documents and information are to be provided to the Alberta Corporate Registry in order to have the new entity incorporated in Alberta. The information provided below is generalized and may vary depending on the business structure, industry, and many other factors.

• The original copy of the Articles of Incorporation
• Legal document mentioning registered office address
• Documents mentioning names and addresses of initial directors
• Document showing a notice of agent for service
• NUANS report copy for the proposed name
• Documents providing valid identification
• Details regarding the payment of the fee associated with the incorporation of business in Alberta. 

What are accounting and tax obligations for companies incorporated in Alberta? 

• Accounting and tax considerations are important factors when incorporating your business. By outsourcing your accounting and tax obligations to Tetra Consultants, you can be assured that you are in the best place. Our team will ensure that your firm’s financial statements, corporate tax returns, and audits are timely completed without the need for you to travel.
• Moreover, the outsourcing of these services by Tetra Consultants will enable you to reduce the overhead costs associated with such services. Our team will also ensure the timely compliance of all reporting and filings within the due date. Before starting an engagement with the Tetra Consultant team, our accounting team will also keep you updated on all the mandated deadlines and expectations. Thereafter, we will prepare all necessary filings in advance to ensure that the stipulated deadlines are met. Note that however, the downlisted requirements are a generalized form of requirements of the state of Alberta. 

Financial statements

• Companies in Alberta are generally required to prepare financial statements in compliance with Generally Accepted Accounting Principles (GAAP). In Alberta, the Condominium Property Act, section 30(3) requires that every corporation prepare financial statements and distribute these documents along with the annual budget to each owner of the company. 
• Generally, all businesses need to file financial statements by May 1 of every year. Disclosures of documents must be made within 90 days of the end of the fiscal year. Failure to comply with these requirements may result in penalties and enforcement action by the Alberta Securities Commission. 

Goods and services tax (GST)

• Businesses incorporated in Alberta are required to pay GST on products and services except for some exempted goods and services. Businesses that have an aggregate of CA$30,000 in revenue received from operating in Alberta with worldwide revenue are required to get registered for GST. GST must be charged on all taxable sales and GST can be claimed once registered. 
• The filing dates for GST returns are determined by the business’s annual taxable income and can be annual, quarterly, or monthly.

Corporate tax 

• Businesses in Alberta are required to file a corporate tax return with the Canada Revenue Agency and Alberta Tax and Revenue Administration within six months of the end of the tax year. The worldwide business income is charged with the combination of federal and provincial corporate tax rates of Alberta businesses which are as follows: 
• Income of a Canadian Controlled Private Corporation (CCPC) below CA$500,000 – 11.00%.
• Income of a CCPC above the small business limit – 23.00%.
• Income of non-CCPCs – 23.00%.
• Investment income – 46.67%.
• Taxes owed are due for three months after the year-end. However, if the total tax payable exceeds CA$3,000 must be paid on prior-year installment payments which can be paid monthly or quarterly. 

Business Licensing and Permits in Alberta 

To register company in Alberta, it is important to note that licensing and permit requirements depend on the business type and its location. As follows, there is an overview of primary considerations for acquiring business licenses and permits in the province: 

Business license 

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

Municipal licenses 

• Each municipality in Alberta has its own business license bylaw, so it is necessary to contact the local authority of the location where a business will be operating to determine specific requirements. Depending on municipal bylaws, businesses might also require zoning permits that ensure compliance with land-use regulations to ensure that properties are used appropriately. 

Industry-specific license 

• Other industries like food service, health care, and construction demand licensed or certified permits. Such includes health permits, food handling certificates, or building permits. Businesses operating in regulated professions like law or engineering may have the relevant authorities that standardize their operations. 

Development permits 

• A business needs a development permit even to get the business license. This ensures that it meets the local zoning laws regarding residential areas and home occupations. 

Comparison of Alberta’s Business Environment with Other Provinces 

Corporate tax rate 

• Alberta has the lowest provincial corporate tax rate in Canada at 8%, combined with the federal rate of 15%, making it equal 23%. The small business is also relieved to have its income reduced to 11% if the income is below CA$500,000. Other provinces have higher general corporate tax rates, including the 11.5% and 11.8% of Ontario and Quebec, respectively. 

Sales tax 

• Alberta is unique in that it does not impose any type of provincial sales tax (PST). As a result, the general cost of goods and services to a business and a consumer is minimized. All other provinces-implement PST or Harmonized sales tax (HST) specifically British Columbia and Ontario-inpatriate PST or HST, thereby adding to the tax. 

Business climate 

• Competitive business environment and focus on areas like energy, agriculture, technology, and innovation. At the same time, Alberta boasts Canada’s highest rate of self-employment. Provinces Ontario and British Columbia tend to have a more diversified economy in general but also increased costs of operations and regulation challenges. 

Regulatory framework 

• Alberta has relaxed the rules on the incorporation of business by removing the director’s residency requirements, which is attractive to foreign investors. Most provinces, however, retain more rigid director residency requirements, thereby complicating incorporation for non-residents. 

Support programs 

• The Alberta government provides a range of grants and funding opportunities for startups and small businesses, with particular emphasis on technology-based enterprises. That being said, the other provinces do provide support programs. However, Alberta’s offerings are specifically geared to encourage new entrepreneurial endeavors. 

Cost of living and business operations 

• Commercial property taxes are relatively low in Alberta, with cities such as Calgary at 0.65%, as opposed to Toronto, at 1.0%, and Vancouver, at 0.95%. The lower tax levels reduce operational costs for businesses. Instead, other provinces have high levels of property taxation, which can skyrocket expenses. 

Market access 

• Alberta’s geographical location and solid transportation infrastructure give the business easy access to major markets in Canada and the United States. Other provinces do as well, but Alberta’s infrastructure is more easily advantageous for the exporting of energy. 

Workforce quality 

• With leading educational institutions and a highly skilled workforce, it supports the diversified industries’ needs. Of course, provinces like Ontario have vast talent pools. However, one of their adverse living costs keeps impacting the retention and affordability of workforces. 

Economic growth prospects 

• Alberta continues to look promising in its long-term economic growth, driven by diversification and advances in productivity in the key sectors. Provinces such as Ontario are continuing to grow more steadily, while their economy remains relatively exposed to declining periods because of the overreliance on manufacturing industries.

Timeline and cost to setup company in Alberta 

• The timeframe to register company in Alberta would take around 2 weeks for company registration and up to 4 weeks for corporate bank account opening. With Tetra Consultants, the total cost involved in the engagement shall be clearly communicated at the outset, supplemented with a detailed breakdown of fees for each service. Among these fees are the government registration fees, name approval fees, registry agent fees, annual return filing fees, and many more. At Tetra Consultants, we are keen on full transparency, so you will know exactly what to expect in terms of expenses involved with the registration process. 

Why register company in Alberta? 

• Being one of the most attractive locations to set up a business enterprise and invest makes Alberta advantageous for entrepreneurs and investors. With such advantages, you are bound to find Alberta to be the most suitable place to begin your business. 
• Thereafter if you need further assistance, Tetra Consultants has a global team of experts that will work closely with you to meet your particular business needs.

Political

• The Alberta political atmosphere is stable and steady making it the most captivating market for investors and entrepreneurs. Alberta has an entrepreneurial spirit that is supported by a young, educated, and diverse workforce. The spirit is created by the working environment and atmosphere created by the political influence of the state making it easier to start and operate a company in the province. 
• The diverse economy of the province is enriched with thriving industries and plenty of opportunities for businesses and investors to tap into various business sectors. 

Legal 

• Complying with the legal regulations of the Alberta province is easy and simple for the individual who understands those regulations. Tetra Consultants can help your business comply with all the legal rules and laws of Alberta in order to run a successful business. 
• Businesses operating in Alberta are required to adhere to various rules and regulations which may change according to the business’s nature and structure. Businesses require various permits and licenses which can be obtained easily. 
• Thus, businesses can take advantage of the legal side and can incorporate a successful business in Alberta. 

Economic

• Alberta has a thriving economy with various industries and diverse markets present in it. The key sector includes energy, clean tech, agriculture, technology, financial services, aviation, and tourism which contributes to a large part of the economy. This diversification allows businesses to contribute to various sectors and markets, reducing their reliance on a single industry. 
• Alberta has a growing population, which provides a large customer base for businesses to grow and expand. This helps businesses to attract large revenue and also to retain skilled workers. Moreover, the well-developed infrastructure and business-friendly solid policies provide extra support to businesses to stay in the economy and promote entrepreneurship and innovation. 
• With a GDP of CA$339.3 billion in 2022 and a high per capita income country makes Alberta a feasible country for investors and entrepreneurs to establish their businesses in Alberta. 

Social

• Albertans have an entrepreneurial spirit, which is supported by a young and skilled workforce of talented individuals who are highly motivated to do work. This makes the province socially strong and non-reliant. 
• Socially concerned, Alberta is a diverse state which makes it socially and culturally strong. With a young and growing population, the social factor of Alberta is safe and secure. Businesses can find ample opportunities here because of the diverse market and growing population making it easy for businesses to set up their enterprise in Alberta.  
• Province has a low cost of doing business making it affordable and suitable for many foreign entrepreneurs and investors to operate their business from Alberta. 

Technological

• With a growing number of startups and investments in the province, the technological sector is getting stronger day by day. The increasing number of startups comes with various technological advancements that help other businesses in the market take advantage of that technology.  
• From developing and changing technologies, Alberta has a strong base of skilled and educated workforce who can operate these advanced technologies. With increasing startups and technological advancements Alberta successfully attracted many businesses and investors towards itself creating great opportunities for entrepreneurs and investors to generate more revenue. 

Environmental

• For entrepreneurs and investors looking to invest in environmentally friendly initiatives, Alberta can be an excellent choice for them because of its commitment to reducing emissions and also to promote sustainable business practices. This commitment to environmental protection helps Alberta become a favorable and preferred place for businesses and investors looking to invest in sustainable projects. 
• Moreover, the thriving industries of Alberta are also engaged in the production of clean energy resources and clean technology for the better future of our planet. The province has been actively engaging in such activities which makes Alberta sustainable and non-reliant which will attract entrepreneurs and investors. 
• Further, the province has been working towards reducing its carbon footprint in order to make the province fueled with clean energy. 

Looking to register a business in Alberta?

• Tetra Consultants is the one-stop solution for you where you can seamlessly register your company in Alberta. Our service package will enable you to register your company in Alberta which includes various ancillary services such as a corporate bank account, provision of nominee director services, and many more ancillary services. Tetra Consultants aims to serve their clients the best of their services by providing their clients with hassle-free and seamless transactions of services. 

Contact us to know more about the process to register company in Alberta and our team will revert within the next 24 hours.

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