Alberta Numbered Company

Legally, there is no difference between named and numbered companies. If you do not choose a business name, the Alberta Corporations Registry will assign you a number, and your business is officially known as that number. An example would be 1234567 Alberta Inc. You can`t select the number – they are assigned one after the other. In situations where there is a risk of confusion, you may be prompted to enter your name. If another company argues that the name you choose is similar to theirs, that company can appeal to the registrar against the use of the proposed name. This may require you to change your name. A company with a similar name may not necessarily object to the Registrar, but it may be able to take legal action. Such a claim may be made to obtain damages (financial losses) resulting from market confusion and to force you to stop using the company name.

Secure and organized online storage. Once you have registered, all of your company`s legal documents will be organized and securely stored in your Ownr account. There are several steps to starting a named business and a numbered business in Alberta. You must: If there is a risk that the name will be confused with another, the name may be contested. The other corporation has the right to argue that there are too many similarities and that this may affect its business and has the right to appeal to the Registrar against the use of the name. In this case, you may need to change your name. To start a “named business” in Alberta, you must first obtain a NUANS report from the Business Registry. NUANS search is designed to make sure that the name you have chosen is not already used by someone else. The reivew process has two steps to see if you can use a name. The first step is that when reviewing NUANS, it is clear that there are no other companies with an identical name. The next step in this process is to determine if the name you want to use is so similar to the names of other companies that it can lead to confusion.

The test for this is to see if the name is so similar that people in the “market” may not be able to easily distinguish your business from another. When looking at named companies versus numbered companies, a numbered company will never have a problem with the name because the government does not assign the same number to more than one company. You need to choose the name of a company carefully to make sure there are no future problems. The term numbered company simply refers to a company that has been created and has decided not to choose a specific or descriptive name.3 min read Whether you choose a “named company” or a “numbered company” for your business, in both cases you need to prepare additional documents so that your company can be properly formed. The following is not part of the debate between the named company and the numbered company, as they are necessary for both. The main disadvantage of starting a business is the additional costs. There are the initial costs of starting your business, as well as the ongoing accounting and annual filing costs. In addition, a company needs additional paperwork and ongoing files. Fortunately, we have automated all ongoing maintenance of the company through Ownr.

When you register your business in Ontario, you have three options for choosing a name: We now come to the most important part: How can you start your business? In general, there are three different ways to integrate into Alberta. A “numbered company” exists as a business that people start without choosing a unique and descriptive name. You can include a “number name” such as 123456 Alberta Inc. The Alberta Corporation Registry assigns the numeric portion of the name. “Alberta” is always the second part of the name (after the assigned number). The last part of a company`s name is the “legal” element. All limited liability companies in Alberta are all required to have a legal element at the end of the name. In Canada, you have the opportunity to integrate at the provincial or federal level. If you choose Federal, you will also need to register the business extra-provincially in Alberta. Limited Liability. By starting a business, you separate your personal and business obligations. As your business heads south, your personal belongings remain protected and intact.

It is important to remember that in some cases, corporate directors may remain liable for unpaid employee salaries and unpaid taxes. This is different from staying as a sole proprietor or general partner in a partnership, as you would remain personally responsible for the company`s debts. We`re going to make this easy in the debate about named companies and numbered companies. Numbered companies are becoming more and more profitable to set up. Numbered companies are cheaper because they don`t need the additional NUANS search. You also need less time from your lawyer. This happens because no one has to make a name selection or perform search checks. While it`s more expensive to start named businesses compared to numbered businesses, the cost difference isn`t huge. Since there are no additional costs in the long run, this factor should not prevent you from having the desired business name for the life of a business.

The differences between provincial and federal inclusion are often exaggerated. Both allow the company to operate in all provinces and serve customers from anywhere in the world. There are a few important differences that we`ve highlighted below: Numbered businesses are a type of business that doesn`t require a name search. Your business is named after a number of numbers, followed by Alberta Ltd. We recommend buying a minute book for $66 plus GST. As a registered company, you are required to keep business records. The minute book we sell contains all the information you need from Legal Ease to keep records of your business. You will also receive share certificates.

An affordable price. With Ownr, you can integrate your business through our intuitive platform. We explain everything in simple language so you can feel confident in this process. Processes that typically take weeks, involve piles of paper, and cost thousands of dollars have been turned into fast, paperless, and affordable tasks that don`t require legal expertise. Legally, named and numbered companies offer the same liability and tax benefits. Both have the same costs and requirements in terms of ongoing maintenance of the business. Overall, the debate about named companies versus numbered companies is not a heated one, but a matter of personal choice. This leads to a third option in terms of named companies compared to numbered companies. That is, start as a numbered company and operate a trade name as (the name used in public).