Opening a Corporation

There are a few different ways to open a corporation.  You can do it online through a 3rd party, you can do it through a legal firm or accounting firm, or you can do it yourself by going directly to a registries branch.  The costs associated with opening a corporation depends on which route you decide to take.  The Alberta government does not strictly regulate these fees.  


Once you have opened a corporation you also need to open a business number with Canada Revenue Agency. This does not cost anything if you do it directly through CRA, however, this can also be done a few different ways.  Some 3rd party businesses and firms will include the opening of the CRA accounts when you incorporate, however they may charge for this service.  You can do it directly through Canada Revenue Agency for free, either via paper filing, telephone, fax or directly online on their website. You will need to have your incorporation documents handy and know which CRA accounts you need to open as there are a variety of different accounts depending on your business. You will also have the chance to choose your fiscal year end.  If you don't choose a fiscal year end it will default to December 31.  However, this default can be changed at a later date if you so choose. 


You will also need to open a corporate bank account at the bank of your choosing.  You will need your incorporation documents in order to open a corporate bank account.  


Once you have done these 3 things you are ready to move to the next steps of owing your corporation!


We have detailed information based on our experience and client experiences for all of these steps to help you make the best decision for your situation.  For further information on opening a corporation, choosing a fiscal year end and business numbers, please submit a contact form and we will respond within 1 business day.  

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