Incorporation · Tax accounts
Starting a company
Starting a company in BC? We help with the name request and incorporation, register the tax accounts you need, and set up your books so every year-end is easier from the start.
| Name request | $30 BC Registries feean approved name is held for 56 days |
|---|---|
| Incorporation | $350 BC Registries fee |
| Annual report | Within 2 months of each anniversary |
| Business number | Free from the CRA |
| First tax year | Up to 53 weeks |
What's included
- Going through the differences between staying self-employed and incorporating
- The name request and incorporation with BC Registries
- A business number, plus GST/HST, payroll and corporate income tax accounts as needed
- BC PST registration if you sell taxable goods or services
- WorkSafeBC registration before you hire
- Choosing a year-end and setting up your books
Who it's for
- Self-employed people ready to incorporate
- Newcomers starting a business in BC
- Investors setting up a holding or real estate company
- Businesses about to hire (see payroll)
What we'll need from you
- Two or three possible names for the company
- Names and addresses of the directors and shareholders
- The company's registered office address in BC
- What the business does and when it starts
- Expected sales, and whether you plan to hire
Good to know
Should I incorporate?
It depends on how much the business earns, whether you need the money personally, and the risks involved. A company pays a lower rate on active business income up to the small business limit, but it costs more to run. We go through the numbers with you.
Which tax accounts do I need?
Every company has a business number and a corporate income tax account. Add a GST/HST account once sales pass $30,000, or earlier if you choose; a payroll account when you pay employees; and in BC a PST number if you sell taxable goods or services (see GST/HST and PST).
Do I still need a lawyer?
For a simple company we can handle the filings. For special share structures or a shareholder agreement, we recommend a lawyer and work alongside them.
What do I have to file each year?
A BC annual report within 2 months of the anniversary, a T2 return every year (see corporate tax), and GST/HST, PST and payroll returns for any accounts you have.
Book a consultation
Leave your details and what you need, and a professional accountant will contact you.
Please don't send tax documents or your SIN here. Once we've agreed on the work, we'll send you a secure upload link.