Incorporating in ontario, incorporation, incorporation in alberta. Many new business owners do not want to pay to set up a minute book for their company. We will make this one easy in the named companies vs numbered companies debate. Whether you are looking to incorporate a new company or simply create a corporate minute book for your existing company, khdunkley law group will prepare your corporate minute book so as to fulfill the records requirements under alberta law and to ensure that an appropriate historical account of the corporation is maintained. Keeping a minute book is a legal requirement for all canadian corporations. What is a minute book and why should every corporation have one. Pursuant to section 211 of the business corporations act alberta a corporation shall prepare and maintain at its records office records containing a the articles and the bylaws, all amendments to the articles and bylaws, a copy. Online minute book services availble now with incorp pro. Named companies vs numbered companies in terms of cost to set up. Under alberta law, every alberta corporation must maintain certain corporate records at its registered address. In addition, your new corporation will be required to file its own tax return each year. Why and how do you maintain a corporate minute book. Corporate minute book and registers are very useful organizational tools that project a professional image of any new corporation.
A limited partnership is a partnership consisting of one or more general partners, who have unlimited liability, and one or more limited partners, who have limited liability depending upon their contribution to the. In may 2011, i attended a webinar sponsored by ipbc on the corporate minute book and annual registration requirements for ccpcs. You can incorporate a company yourself with very little trouble and no legal fees to pay. That is to incorporate as a numbered company and operate as the name used in the public a trade name. After your business has been incorporated and you receive your certified articles of incorporation, there are several things that you should do. Im a professional accountant but i present this information so as to put the corporate minute book on your radar and to facilitate a conversation with your lawyer. How to organize your corporation or llc minute book. The speaker was darlene lafond, master tax accountant, registered public accountant in alberta. Our team will ensure that your incorporating in canada with the least amount of problems. Select your choice of options from our menu and get incorporated.
Minute book incorporate canada canadian incorporation. The minute book is set up when the corporation is first created. What goes in a minute book resources for canadian business. Corporations often maintain their corporate records in a single book, referred to as the minute book of the corporation. Minute books are legal necessity for incorporated businesses fbc. If meetings are held that violate the legal requirements for a meeting. Corporate minute book edmonton registrations are us. T he incorporation procedure in alberta is easier than ever. How to organize your corporation or llc minute book maintaining corporate or llc compliance is an essential function that begins with being organized. Every corporation in canada is required to maintain an official record of its activities including records of any annual meetings conducted by the. Jul 22, 2017 a minute book also holds other corporate records such as the certificate of incorporation, corporate bylaws and records of share ownership.
Drafting and revising bylaws for notforprofit organizations. A corporate minute book holds all your important corporate documents, such as articles of incorporation, shareholder and director meeting minutes, tax filings, share certificates, bylaws and other legal documents, in one convenient registry. Ultimately, its a job that starts with you, your companys owner, secretary or shareholdersand it doesnt have to be difficult or complicated. The minutes should also include basic information date. Dec 30, 2015 canadian corporate minute book on december 30, 2015 december 30, 2015 by lawrenceogbonnah in uncategorized please note that i am definitely not a legal expert in this area. Minute book is one of the most important step during your business incorporation process. Learn what goes in a minute book and the importance of having a proper minute book set up. All minute books have the same content, it is the cover and accessories which differ. Minutes are an essential part to any meeting and are used as an official account of the decisions made during a boardshareholder meeting. A corporate minute book is used to store all important corporate documents such as the articles of incorporation, the minutes of shareholders and directors meetings, stock certificates, tax filings, bylaws and other legal documents. Incorporate your business using our online alberta incorporation package. The minutes of the annual meeting are recorded in the minute book. On an annual basis, the corporation is required to hold an annual meeting. The whole legal basis of your business is based on a minute book.
Alberta incorporation package comes with nuans report, minute book, gsthst registration, business number, payroll, importexport account registry and more. If you order the lawdepot advantage minute book option when you order your bc incorporation, a minute book together with completed corporate bylaws, registers and director and shareholder organizational minutes will be sent to you. The process of preparing the required documentation for incorporation can begin once the usual. A filestamped copy of the certificatearticles of incorporation and all subsequent amendments as filed in the state of incorporation. Why a company needs a minute book extra costs will be incurred there are many reasons why a minute book may be requested. Failing to take these steps can lead to significant problems for a corporation, including incurring penalties and having the corporation struck from the corporate register, meaning it no longer exists as a. The minute book must be stored in a physical location within the province of alberta. Corporate minute book template canada company formations.
All documents must be kept for a period of 7 years from the conclusion of the document. Examples of documents that must be kept in the minute book are the articles of incorporation, the rules and bylaws of the corporation, registers of the directors, shareholders, number of shares issued, and the minutes of director and shareholder meetings. A corporate minute book is used to store all important corporate documents such as the articles of incorporation, the minutes of shareholders and directors meetings, stock certificates, tax filings, bylaws, and other legal documents. May 09, 2017 such record is normally kept in a book called a minute book. Corporate records and other corporate obligations corporations. Many incorporation websites will sell you a minute book, but will only give you blank documents for you to fill in.
Why a company needs a minute book resources for canadian. These records keep track of the corporations activities and can be. What are annual corporate maintenance requirements for. Below is an detailed explanation of what goes in a minute book. Alberta incorporation package corporation ready in two hours. Incorporation, incorporation in alberta, incorporation in british. In calgary, and all alberta, a corporation is an entity created by law. If you are ready to incorporate your business, then we would be honored to join you in this important first step in the long life of your new enterprise. The minute book is designed to record resolutions of the shareholders and directors as. This functional minute book binder and slipcase is available with a burgundy leatherette cover with gold detailing and brass plate permanently adhered to the spine for easy identification.
All subsequent entries into the minute book are your responsibility. A minute book is a central place for storage of all of this information. Canadian corporate minute book small business accounting blog. Minute books business incorporation canada incorporate in. In addition, decisions or resolutions passed by the directors are also recorded in the minute book from time to time. A professionally updated minute book allows for quick organized reference to corporate documents, and is extremely important in a variety of corporate transactions, such as the sale of the corporation to another shareholder the purchasers lawyer will usually want to examine the corporate minute book in advance of the sale to ensure that all. Whether you have organized your corporation in delaware, california or any other state, your existence as a corporate entity begins with the filing of your organizational certificate of incorporation or articles of incorporation states differ on what they call this document. Hard copy we provide a hard copy minute book which we complete on your behalf with the relevant bylaws, resolutions and registers, as at time of incorporation. Corporate minute books free legal information legal line. Why a company needs a minute book annual returns, initial returns, notices of change certain returns and filings have to be done with respect to a new incorporation, on an annual basis and when changes have occurred in addresses, directors and officers. Your corporation is a separate legal entity that must fulfill certain obligations under the canada business corporations act cbca. A minute book is a binder, case, or file containing the documents and records that a corporation is required by law to keep. Minute book we will prepare a minute book for the corporation containing its corporate records, certificate of incorporation and share certificates. Minute books calgary registry registries motor vehicles.
Minute book explanation and buy canadian business minute books. Corporate minute books and supplies new business now. This guide explains in easytofollow steps how to incorporate a small non. By law, a corporation is required to maintain certain corporate records at its corporate records address. This leads to a third option with respect to named companies vs numbered companies.
Incorporate canada canadian incorporation incorporating. Why a company needs a minute book the dangers of not properly setting up. A corporate minute book is a minute book in which the corporation keeps its statutes and other legal documents require by law. The speaker was darlene lafond, master tax accountant, registered public accountant in alberta the main purpose of the webinar was to explain a bookkeepeers responsibility with regards to the corporate minute book was one of quality control. A minute book is a chronicle of resolutions and a resource of important corporate documents. It is generally advisable to acquire such a minute book at the time of incorporation. More and more people are using a corporate structure for their businesses. A well organized minute book might be divided into the following sections, each containing the documents listed and with an accompanying index.
Minute books are available from legal stationery stores and search houses. A corporations minute book is to be kept at its records office. Only information of substance should be included, while extensive details on what was presented excluded. Canadian incorporation services corporation centre is canadas premier incorporation resource for canadian small businesses and speeds up the canadian incorporation process to incorporate in canada. When a new company is incorporated there is a three step process. If you want to purchase the minute book at a later date, you may do so. Your corporation is legally required to maintain minute books. The need to be done right, updated annually and be well maintained.
Such record is normally kept in a book called a minute book. Jun 27, 2018 making updates to the corporations minute book. Minute books are sometimes referred to as company book in canada, or as a transliteration of its french name, minutes book i. We recommend that you purchase this minute book at the time of incorporation. The government of alberta maintains a database to record important. What is a minute book and why should every corporation. View this quick video to learn more about corporate minute book. With a minute book created for you, you need only updated it with important documents as you go along. Company formations canada alberta corporate minute books. Every business has several legal requirements they must follow. Documents within your corporate minute book must be kept uptodate.
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