Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
In Burnaby, Canada, businesses are required by law to register with the provincial government. This applies whether you are starting a new company, operating a sole proprietorship, or owning a partnership. Business registration laws are governed by the Business Corporations Act of British Columbia. This legislation outlines the procedure for incorporation, the conduct of business, the rights and responsibilities of shareholders and directors, and the legal framework for dissolution or termination of a business.
Though the business registration process can seem straightforward, there are complex legal aspects to it that may require an experienced lawyer's perspective. Some common situations requiring legal help include understanding tax law implications, preparing documents for registration, understanding the obligations of different business structures, and determining unique situations such as non-profit status, or registering a foreign-owned business. Furthermore, legal consultation may be necessary during instances of disagreements among business partners or planning exit strategies.
Burnaby's local laws in relation to business registration are primarily centered around zoning regulations and business licenses. Zoning bylaws divide the city into different zones and determine the type of business activities permitted in each zone. The business licensing process, on the other hand, needs to ensure public safety and compliance with local rules and bylaws. It's also important to note that Burnaby imposes certain requirements for signage and parking according to its municipal code. Legal consultation helps navigate these local laws effectively.
Incorporation involves reserving a business name, preparing incorporation documents, and submitting them to the BC Registry Services. The next steps involve obtaining a business license from the city of Burnaby and ensuring compliance with local zoning bylaws.
While it is not mandatory, having a lawyer can help clarify legal nuances, draft precise incorporation documents, and navigate potential legal hurdles.
The common types of business structures in Burnaby are sole proprietorships, partnerships, and corporations.
Provincial incorporation allows you to do business under a corporate name in British Columbia, while federal incorporation gives you the right to do business across Canada under that name.
The tax implications vary depending on the business structure. For example, corporations may be subject to corporate tax, while a sole proprietorship income is included in the personal income tax of the owner.
A non-profit is an organization that uses surplus funds to achieve its goals rather than distributing them as profit or dividends. It still needs to be registered and can be subject to specific legal rules.
Business names must not be misleading or confusing, and must comply with certain regulations under the Business Corporations Act.
There are costs for reserving a business name, incorporating, and acquiring a business license, which may vary.
Yes, businesses must file an Annual Report each year with the BC Registry Services and maintain accurate records.
Breaking a local bylaw can result in fines, business license suspension, or legal action.
The BC Registry Services, the Burnaby City Clerk's Office, the Business Corporations Act, and the Burnaby City Zoning Bylaws are all resources that can provide valuable information for someone in need of legal advice on business registration.
If you need legal assistance in business registration, consider consulting with a lawyer who specializes in business or corporate law. Ensure that they are familiar with the regulations in Burnaby, have a clear understanding of your specific business needs, and can provide guidance throughout the registration process.
