Starting a business in corporation registration Nova Scotia Incorporating your business can provide legal and financial benefits, including liability protection and tax advantages. This guide walks you through the process of registering a corporation in Nova Scotia, ensuring you understand the requirements and steps involved.
Step 1: Choose a Business Name
Before registering, you must select a unique business name and ensure it complies with Nova Scotia’s naming rules. You have two options:
- Numbered Corporation – If you don’t require a custom name, the government will assign a numbered name (e.g., 1234567 Nova Scotia Limited).
- Named Corporation – If you want a specific name, conduct a name search through the Nova Scotia Registry of Joint Stock Companies (RJSC) to ensure availability. You may also need a NUANS (Newly Upgraded Automated Name Search) report.
Step 2: Prepare Incorporation Documents
To register your corporation, you will need to file the following documents:
- Articles of Incorporation – This document outlines the corporate structure, including the business name, share structure, and purpose of the corporation.
- Notice of Registered Office – This provides the official address for legal correspondence.
- Notice of Directors – This lists the names and addresses of the corporation’s directors.
Step 3: File with the Nova Scotia Registry of Joint Stock Companies (RJSC)
Once your documents are ready, submit them to the RJSC online, by mail, or in person. The fees for incorporation vary, but as of recent updates, the incorporation fee in Nova Scotia is $454.75 (subject to change).
You will also need to pay an annual registration fee to keep your corporation in good standing.
Step 4: Obtain a Business Number (BN) and Tax Accounts
After incorporation, register with the Canada Revenue Agency (CRA) to get a Business Number (BN). This number is required for tax purposes, including:
- Corporate Income Tax
- GST/HST Registration (if applicable)
- Payroll Deductions (if hiring employees)
Step 5: Additional Permits and Licenses
Depending on your industry, you may require additional permits or licenses from municipal, provincial, or federal authorities. Check with BizPaL, a government service that helps businesses identify necessary permits.
Step 6: Annual Filings and Compliance
To maintain good standing, corporations in Nova Scotia must:
- File an Annual Return with the RJSC.
- Keep corporate records updated, including changes in directors, registered address, or share structure.
- File corporate taxes with the CRA.
Benefits of Incorporating in Nova Scotia
- Limited Liability Protection – Owners’ personal assets are protected from business debts.
- Tax Advantages – Possible lower tax rates and income-splitting opportunities.
- Credibility – Incorporated businesses may attract more investors and clients.
Conclusion
Incorporating your business in Nova Scotia provides legal protection and potential tax benefits. By following these steps, you can ensure a smooth registration process. For further details, visit the Nova Scotia Registry of Joint Stock Companies website or consult a legal professional.
