The second-largest country, Canada, is well known for its largely growing economy, which is providing more and more opportunities on a local level, thus improving unemployment rates. This neighbor of America exports 72% of goods to America. Canada is well developed in its air transport infrastructure and coastal ports. This gives easy and privileged access to investors to reach out to Europe, Asia, and South America. That is why it is the number one attraction for entrepreneurs. It increases the chances of foreign investors to expand their business across the border too. This global market access has always been the most enchanting feature of Canadian investment. The impressive regulation, conservation, and capitalization strategies have marked stable financial bank sheets in the Canadian banks. The banking system of Canada is ranked sixth in the world.
They offer low-interest investments with incredible market access. The interest rate is mostly defined on the size and nature of business activity as well as the location. This attractive business environment can be attained even if you have a low budget for investment. You just have to stick to the low risk strategies and here you go. Foreign investors have always contributed to the ever growing economy of Canada so Canada also provides a lot of benefits to maintain this insure. With the exchange control laws being nil this benefitted the investor to repatriate enormous profits. Political stability is ranked second in the world that blesses investors with a sigh of relief and a place to grow. Having three world’s most livable cities, Canada is ranked first in the quality of life. So there are enormous advantages to investing in Canada.
STEPS TO START A CORPORATION IN ALBERTA
The essential steps to starting your own corporations are almost alike in the whole of Canada with a bit of changes among provinces and states. Here we go to deep dive into steps to start a corporation in Alberta. Enlightened by “Where there is a will, there is a way”, you first have to choose among the four business types among corporation, proprietorship, partnership and a cooperative. Corporation being the trendiest will attract your attention. A corporation is an independent single entity that can buy, sell and sue apart from its shareholders. A single person with a small business can register a corporation.
Then choose a name for it that can appeal to the proverbial hoard of customers and at the same time is legally acceptable. There is a fine for the corporations who work without registering their names successfully. As per Alberta is concerned, the corporation’s name has three components
1. Distinctive Name
That will show your unique identity and will be your brand name in near future.
2. Descriptive Name
This part exhibits the type of work done by the corporation and creates ease among the masses.
3. Legal Name
As per act, you have to add one of the legal names allowed in the end
Some special businesses can have a professional name. You can have a number name assigned by the Ministry with Alberta added to it. The number name doesn’t need a NUANS report. Other way round, you have to submit a NUANS report. Search well before deciding on a name, as you can’t show affiliation with the Canadian state or any other agency by misusing names. This NUANS report will help you review the uniqueness of your name and will reserve your proposed name for 90 days. Till then you have to submit your application with all the proposed documents. Corporate registry Alberta, Canada is an easy process as a non-resident investor.
You just need to prepare an article of incorporation that will shape rules and regulations of your corporations like the number of directors, policies, and restrictions of share transfer and share structures. Then prepare the Notice of Address where they can mail you and send any notification. This should be a physical postal address. Go for a Notice of Directors then and choose one at least and place their information well in the document. This policy is mandatory to follow in the whole of Canada including Alberta that 25% of directors should be Canadian. Covers letters should be done carefully and will include name, address, type of business done, and contact information of the corporation. Then you have to submit the NUANS report along with the signed Article of Incorporation, Notice of Address, Notice of Directors, and a government-issued identification picture. The payment is also made additionally with these application forms. You can do it personally as well as by email by online forms.
COST TO START A CORPORATION IN ALBERTA
The cost of starting a business in Alberta is about 500 to 1000$ depending on the type of business. 275$ being the government fee also includes the NUANS research fee. Offices have some additional 250 $ fee making it to the minimum 500$ required for corporate registration.
But if you go for legal advice to have a traditional corporation setup, the cost may rise to 1000$. The Corporate Minor Book also adds 50 to 100 $ to the total. The Share Certificates will raise it by adding 25 to 75 $. There is some additional expenditure which you have to take care of.
TIME REQUIRED TO REGISTER A CORPORATION IN ALBERTA
Once the fees and all the required documents are provided, it just takes 3 or 4 working days to get it registered and you are good to go.
You need at most 200000 $ CAD if you gain it via Canadian Venture capital fund. But an investment of 75000$ CAD is a good-to-go option if you are having it via a Canadian angel investor.
You should at least have a 10 percent voter share in the corporation to apply for a visa. There can be up to 5 directors who can use the owner privilege. One director must be chosen before registration. He should not necessarily be a shareholder.
APPLY FOR VISA AS NON- RESIDENT INVESTOR IN ALBERTA
You can work with a temporary permit till you get the visa. To apply for a visa, you have a business requirement to meet. A 10 % voter in a business can name himself an owner. Support Letter of a recognized organization is the second requirement to be fulfilled. Then you must have a language score of 5 in Canadian Language Benchmark in English or French. The last thing to have is the settlement amount to assure the Canadian Government that you will not be a burden to their economy instead it will bring benefits to them. The Provincial Nominee Program allows Alberta to receive applications from competent investors to let them have a visa to start a business there. You must present a business plan with prospects regarding the future development of Alberta, especially its agricultural industry.
Alberta Corporate Registry, Canada is the hub for the world’s market. If you are looking for investment in Canada, Alberta is the best for you. Having one of the world’s most livable cities and a developed agricultural business, it has a lot of space to accommodate new investors. As the steps for registration are easy to apt for an individual, this can be a new era of opportunities for you. To invest in Alberta, you just need a small investment and in a short time, you will be a corporation owner with a non- resident investor visa. In this way, you can mark your name in one of the best places to start a corporation.