By Sharad Gondaliya, CPA
British Columbia, like Ontario, lets a non-resident incorporate with no Canadian on the board. You can own 100% of the shares, act as the sole director and never travel to Canada. Here is the full process, step by step.
Open Corporation for $35 is a department of Gondaliya CPA.
Who can incorporate in BC
- Any individual or company, anywhere in the world.
- At least 1 director, of any nationality and residence.
- Shareholders can be 100% non-resident, including a foreign parent company.
BC has no resident-director rule. A federal corporation, by contrast, needs at least 25% resident Canadian directors.
Step 1: Choose a named or numbered company
A named company needs a BC Name Request, which costs $30 ($100 for priority service). A numbered company uses its incorporation number as its name, such as “1234567 B.C. Ltd.”, and needs no Name Request.
Step 2: Arrange the BC offices
A BC company must have two offices in BC: a registered office and a records office. Each needs a delivery address, which cannot be a post office box. They can be the same address. Many companies use the office of their accountant or lawyer. Please contact us if you need help arranging a BC address.
Step 3: Set the share structure
Decide the classes of shares, how many each owner will hold, and the price. Most single-owner companies use one class of common voting shares.
Step 4: File the incorporation application
We file the Incorporation Application with the BC Registry. The government fee is $350. The company also needs articles, which set out its internal rules, and an incorporation agreement signed by each first shareholder.
Step 5: Set up the records office
The records office keeps the articles, registers of directors and shareholders, resolutions and the transparency register of individuals with significant control.
Open Corporation for $35 is a department of Gondaliya CPA. The same CPA team can help keep these records current after incorporation.
Step 6: Register with CRA
We register all CRA accounts for your company: Business Number, GST/HST, payroll and corporate income tax. No SIN is needed and no visit to Canada.
Step 7: Open a Canadian business account
We help you open a Canadian business account without visiting Canada. The financial institution gives final approval after its own identity checks.
Step 8: Keep the company in good standing
File a BC annual report within 2 months after each anniversary of incorporation. The fee is $43.39. Report any change of directors within 15 days.
Fees for a named BC company
| Item | Amount |
|---|---|
| Our service fee | $35.00 |
| GST on our service fee (5%) | $1.75 |
| BC Name Request | $30.00 |
| BC incorporation fee (no tax) | $350.00 |
| Total | $416.75 |
| BC annual report, each year | $43.39 |
A numbered company skips the $30 Name Request, for a total of $386.75.
Tax and sales tax in BC
A BC company controlled by non-residents pays a combined general corporate rate of 27%. Sales to BC customers carry 5% GST, and many goods and some services also carry 7% PST, which has its own registration.
Open Corporation for $35 is a department of Gondaliya CPA. Questions? Please email info@opencorporationfor35.ca.
FAQs
Do I need a visa to be a director of a BC company?
No. A visa is an immigration matter. Being a director or shareholder does not by itself give a right to work in Canada.
Can a BC company do business in Ontario?
Yes. It can sell anywhere in Canada. If it opens an office or hires staff in Ontario, it registers there, the same process any corporation follows.
Who is Open Corporation for $35?
Open Corporation for $35 is a department of Gondaliya CPA. Gondaliya CPA is a CPA Ontario firm in Toronto, led by Sharad Gondaliya, CPA.
Start your BC corporation
Please email info@opencorporationfor35.ca or start at opencorporationfor35.ca. Not sure between Ontario and BC? Read Ontario or BC corporation for non-residents. Open Corporation for $35 is a department of Gondaliya CPA.
