What is a corporation?
A corporation is a legal entity that is separate from its owners. It is created by filing articles of incorporation with the provincial or federal government, depending on the scope of the business. Once incorporated, the corporation can conduct business, own assets, and enter into contracts in its own name.
Incorporation offers several benefits, including:
- Limited liability: The owners of a corporation (shareholders) are not personally liable for the debts and obligations of the corporation. Their liability is limited to the amount of their investment in the corporation.
- Tax benefits: Corporations may be able to take advantage of lower tax rates and deductions.
- Perpetual existence: A corporation can continue to exist even if the original owners sell their shares or pass away.
- Professionalism: Incorporation can add credibility and professionalism to a business, which can be important for attracting investors, partners, and customers.
What we can do for you
At Jomha Skrobot LLP, we offer a range of services to help you set up your corporation, including:
- Name searches: We will conduct a search to ensure that your desired corporation name is available and meets the legal requirements.
- Articles of incorporation: We will prepare and file the necessary documents with the government to create your corporation.
- Shareholder agreements: We can help you draft a shareholder agreement that outlines the rights and obligations of the shareholders.
- Bylaws: We will help you draft bylaws that govern the internal operations of your corporation.
- Minute book: We will prepare a minute book, which is a legal record of the corporation’s activities, including its bylaws, shareholder agreements, and other important documents.
- Tax planning: We can provide you with guidance on tax planning strategies for your corporation.
- Other services: We also offer a range of other services related to corporations, such as annual maintenance and updates, director and officer liability, and more.
Why choose Jomha Skrobot LLP?
At Jomha Skrobot LLP, we have years of experience helping clients set up corporations in Edmonton, Alberta. We are dedicated to providing personalized service and ensuring that our clients are informed and satisfied throughout the process. We understand that starting a business can be stressful, and we are here to make it as smooth and worry-free as possible.