If you own a business in Alberta, it will need to be registered and legal – regardless of how small your business is. There are 4 types of business names registered under the Partnership Act: a sole proprietorship (trade name), partnership, limited partnership, and limited liability partnership. In this article, we focus on registering a trade name and what you need to know about trade name registration services in Edmonton.
Why register a trade name?
Also known as a sole proprietorship, a trade name is used when an individual operates a business under a name other than their own personal name or when a corporation operates a business under a name other than its legal name.
Registering a business is simply proof that the name is being used – it does not give you the right of ownership of the name. However, there are many benefits of registering a business, including:
Applying for financial services – You’ll need proof that you are operating a legal business when applying for business bank accounts, a business credit card, or a loan. Your business registration number can be used as viable proof.
Collecting GST/HST – Any business expecting to make $30,000 and over per year will need to register for a GST/HST account.
Expanding your business – If you’re planning to grow your business and hire employees, you’ll need to have a registered business in order to establish payroll and open an account with the Canada Revenue Agency, Workers Compensation, benefits, and more.
Tax benefits – If you have a registered business in Alberta, you must file your annual return every year to keep your company active. You can take advantage of tax benefits and deductions that are afforded to businesses, such as start-up expenses, travel, salaries & wage benefits, and more.
How to register a trade name in Alberta
Before visiting a registration office, we recommend checking Alberta’s Corporate Registry Search to make sure that no other business is operating under the same name. Corporate searches provide all current information for the company, including current directors, shareholders, addresses, articles of incorporation etc. Trade Name and Partnership searches will include the registrant or partner information in addition to the registration date.
Once you have a unique business name, you must get a Newly Upgraded Automated Name Search (NUANS) report completed at the registry. A NUANS report searches your proposed business name with a large database of established names in Albert and Canada. For incorporation, amalgamation, a name change, or a revival of a business, a NUANS report is often required.
Next, you’ll need to fill out 3 forms:
Articles of Incorporation – A set of official documents filed with the government to legally document the creation of a corporation.
Notice of Address – This can be a street address or legal land description, as long as it is a physical location in Alberta that can be accessed by the public during normal business hours and where the majority of business is conducted from.
Notice of Director – The complete name of the director, the date the director was appointed to the company, and complete mailing address.
Where to register your business in Edmonton
If you are looking to register your business, we can help at Riverbend Registry. We offer trade name, corporate, and partnership registration services in Alberta and can assist you with everything from registration, incorporation, NUANS reports, dissolutions, corporate name changes, and more.
If you’d like more information, give us a call or visit us at Riverbend Registry and we’d be happy to answer your questions!