Registering A Business Name: New Brunswick Guide

Registering a business name in New Brunswick is a relatively straightforward process, but it varies depending on the type of business you operate. The first step is to identify the type of business and select the appropriate identity (sole proprietorship, partnership, or corporation). Once you've determined this, you can choose a business name and check its availability through the New Brunswick Corporate Registry. After selecting a name, you must complete the necessary registration forms and pay any associated fees to reserve your legal rights to the name. You will also need to obtain a Business Number (BN) for tax purposes and apply for any required permits and licenses specific to your business type. The entire process can be completed online, through mail, or in person.

Choose a business structure

When registering a business in New Brunswick, you must choose a business structure. This is an important step as it will determine the operational structure of your business and the types of taxes you will owe.

There are three primary legal structures under which your business can operate in New Brunswick: sole proprietorship, partnership, and corporation. Each structure has different requirements and offers different protections.

Sole Proprietorship

A sole proprietorship is the most common and simple form of business structure. In this structure, one person owns the assets of the business and is personally responsible for its liabilities. The owner can employ others to help operate the business, but they usually manage it themselves. There are few formal legal requirements to establish a sole proprietorship, and they are much cheaper to create than corporations. A sole proprietorship must have its registered business address located within New Brunswick.

Partnership

Partnerships are similar to sole proprietorships, but with more than one owner. The owners of the business personally own all the assets of the partnership and are personally responsible for its liabilities. The partners can employ others to help operate the business, but they usually have a hand in its operation or management. Like sole proprietorships, partnerships have few formal legal requirements and are cheaper to create than corporations. A partnership must have its registered business address located within New Brunswick.

Corporation

A corporation is a more complex business structure with different requirements and protections. Corporations must follow rules for annual documents and must agree to operate under a specific name, such as "Limited" or "Incorporated." Registering as a corporation in New Brunswick will protect your business name within the province. If you plan to operate your corporation in other provinces, you may want to register it federally for name protection across Canada.

It is important to carefully consider the different business structures and their implications before registering your business in New Brunswick. Each structure has its own advantages and disadvantages, and the right choice will depend on the specific needs and characteristics of your business.

Register your business name

Registering your business name in New Brunswick is a relatively straightforward process, but there are a few things you need to do first.

Firstly, you need to identify what type of business you want to operate and the type of identity (sole proprietorship, partnership, or corporation) that will meet your needs. If you are unsure, you should consult a lawyer or accountant.

Once you have determined the type of business, you will need to choose a name. You can check that your desired business name is available by requesting a list of private sector name search firms from the Corporate Affairs Branch. You will then need to pay a fee to reserve all legal rights to the name.

With your business type and name confirmed, you will need to complete the business name registration forms in full (NB Certificate of Business Name) and the Additional Information Form. You will also need to apply for a Business Number (BN) for tax purposes.

You must then submit your completed forms to the Corporate Affairs Branch of Service New Brunswick, where you will be given any additional paperwork. You can also download the necessary paperwork from the website: Form 5: Certificate of Business Name.

It is important to note that registering a business name does not grant any right of ownership of the name. It is simply proof that the name is being used by a particular business.

Obtain a business number

To obtain a business number in New Brunswick, you must register your business with the provincial government. This process involves several steps, and the requirements vary depending on the type of business structure you have chosen.

If you are a sole proprietor and the only owner of your business, you may not need to register your business. Many sole proprietors operate under their legal name, which does not require registration. However, if you want to operate under a different name, you must register it using the Declaration of Trade Name form. This protects your chosen business name and ensures customers know who they are dealing with.

For other business structures, such as corporations and partnerships, registration with the province is mandatory. To register your business name, you can use the Service New Brunswick webpage and click on the "Begin a New Application" button to initiate the process. There may be fees associated with registering your business name.

When selecting a business name, it is essential to follow specific guidelines. The name must be unique and cannot be similar to any existing registered business names in the province. It should not contain any profane words, and it should accurately describe the nature of your business. If your business is a corporation, the name must include words like "Limited," "Corporation," or "Incorporated" or their abbreviations. You have the option to register both a French and English version of your business name, and they should have a similar meaning but do not need to be exact translations.

In addition to registering your business name, you will also need to provide other information, including the desired date of registration, the name of the business owner(s), the business mailing address, and contact information for both the business and the owner(s).

The cost of registering a business in New Brunswick depends on the type of business structure. For a sole proprietorship, the fee is $112 plus $30 for the name search report. A partnership costs $142 plus the $30 name search report fee. Registering a corporation is $262 plus the $30 name search report fee. These fees are subject to change, and there may be additional fees depending on the specific requirements of your business.

You can complete the business registration process online through the government portal, SNB Online, or by using a paid registration service. Alternatively, you can access the registration forms in PDF format, fill them out digitally, and email them to the provincial government or submit printed forms to the New Brunswick Corporate Registry Operations Service Centre.

Apply for a business license

Once you have determined your business structure and registered your business name, you can apply for a business license. This can be done through the Service New Brunswick website. You will need to fill out an application form and pay the required fee, which varies depending on the type of business you are operating. For example, the fee for a home-based business license is $25, while the fee for a commercial business license ranges from $50 to $200.

After submitting your application, you may also need to obtain additional permits and licenses, depending on the nature of your business. For instance, if you are opening a restaurant, you will need to obtain a food service license. You can consult the NB Bizpal website to find out what additional permits and licenses you need.

It is important to note that the business license fee is an annual fee and must be renewed each year. Failure to renew the license may result in penalties or fines.

Get additional permits and licenses

Once you have registered your business name, you may need to obtain additional permits and licenses to operate your business in New Brunswick. The specific permits and licenses you need will depend on the nature of your business. For example, if you are opening a restaurant, you will need to obtain a food service license.

BizPaL is an online service that can help you determine which permits and licenses you need for your business. By answering a few questions about your business, BizPaL will provide you with a customized list of potential permits and licenses that you may require. This service covers federal, provincial, and municipal government requirements. It is important to note that BizPaL may not include all types of businesses, so if you cannot find a suitable category, you may need to contact the relevant organizations directly.

In addition to permits and licenses, you may also need to obtain business insurance and comply with safety and security regulations. It is your responsibility as a business owner to ensure that you have obtained all the necessary permits and licenses to operate your business legally.

Furthermore, if your business operates across multiple provinces, you may need to register your business in each province individually. This includes registering your corporation federally to protect your business name throughout Canada.

Frequently asked questions