Registering A Business In New Brunswick: A Guide

If you're starting a new business in New Brunswick, you may need to register it with the provincial government. Registering your business has several benefits, including name protection, simplified tax payments, and the ability to open a business bank account and obtain loans. The registration process varies depending on the type of business structure, such as a sole proprietorship, partnership, or corporation. In New Brunswick, you can register your business online, through a paid service, or by submitting forms digitally or in person. The cost of registration includes fees for the registration process and a name search report, which vary based on the business type.

Registering a sole proprietorship

A sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest business structure. If you are the only owner of your business, you may not need to register. Many people choose to operate their business under their own name, meaning there is no need for registration. However, if you want to operate under a different name for business purposes, you must register it using the Declaration of Trade Name form. This protects your business name and ensures customers know who they are dealing with.

Choosing a Name

When selecting a name, you must follow certain guidelines. The New Brunswick government will want to pre-clear the name to ensure it is not the same, similarly spelled, or sounds the same as any other registered business in the province, and possibly in all of Canada. You must also ensure that the name describes the product or service offered, is distinctive, and memorable for customers.

Registration Process

The registration process tells the provincial government about the operational structure for your business and determines what taxes you may owe. When you register in New Brunswick, you automatically receive a business tax number for use with the Canada Revenue Agency. You can register your business and business name online through the New Brunswick provincial government website, or by completing and submitting forms via email or in person. The registration process should take one to five days to complete online, and up to a couple of weeks if filing by mail.

Costs

The cost of registering a sole proprietorship in New Brunswick is $112, plus $30 for the name search report.

Registering a partnership business

To register a partnership business in New Brunswick, you must follow a few steps. Firstly, you must choose a name for your business. This name must be unique and cannot be similar to any other registered business names in the province. You can use the Search Corporate Registry service to check if your desired name is available. Once you have chosen a name, you need to file a Certificate of Partnership based on the Partnerships and Business Names Registration Act. This document must be filed with the provincial government, and you can find instructions on their website. The registration fee for a partnership business in New Brunswick is $112, plus a $30 name search report fee.

In addition to registering your business, you may also need to obtain permits and licences to operate. You can use the BizPaL service to determine which permits and licences are required for your specific business type. It is important to plan ahead and start the registration process early, as it can take up to a couple of weeks to receive approval.

When registering your partnership business, you will need to provide the following information:

• Business name
• Desired date of registration
• Names of the business owners
• Mailing address of the business
• Contact information for the business and owners

You can complete the registration process online through the government portal, or you can fill out paper forms and submit them by mail or in person. It is also possible to use a paid registration service, which can be helpful if you are unsure of the process. These services typically charge a fee of $40 to a few hundred dollars.

Registering a corporation

To register a corporation in New Brunswick, you must first register your business with the provincial government. This can be done online through the SNB Online portal or by completing and submitting forms via email or in person. The registration fee for a corporation is $262, plus $30 for the name search report.

The registration process will require you to provide the following information:

• Your business name
• Your desired date of registration
• Name of the business owner(s)
• Mailing address of the business
• Contact information for the business and the owner(s)

When registering a corporation, you must also agree to submit annual documents. If your corporation will operate in multiple provinces, you may want to register it federally to protect your business name across Canada.

It is important to note that registering a corporation in New Brunswick is subject to the Business Corporations Act, and you will need to follow the rules for annual documents. The registration requirements may vary depending on the province or territory, but generally, conducting business includes having a physical address, offering services or products, or having a phone number in the province.

Registering a business name

When selecting a name for your business in New Brunswick, there are a few rules to follow. The name must be unique and cannot be similar to any existing registered business names in the province. It should also include words that accurately describe your business activities. If your business is a corporation, the name must include a word like "Limited", "Corporation", or "Incorporated", or an abbreviation of these words. You have the option to register both a French and English version of your business name, and they don't have to be exact translations, but they should have a similar meaning.

To register your business name, you can use the Service New Brunswick webpage. Click on the "Begin a New Application" button to start the process. There may be some fees associated with registering your business name. You can also use the Search Corporate Registry service or perform a NUANS name search to check if your desired business name is available before registering.

Keep in mind that business registration costs in New Brunswick depend on the type of business. For a sole proprietorship or partnership, the cost is $112 plus $30 for the name search report. For a corporation, the cost is $262 plus $30 for the name search report. Additionally, you must renew your business name every five years in New Brunswick, and this renewal can be completed online.

Benefits of registering a business

Registering a business in New Brunswick brings several advantages, including:

Name protection

Registering your business in New Brunswick protects your business name. No other business in the province can use a name similar to yours.

Simplified tax payments

Registering simplifies paying your business taxes. When you register in New Brunswick, you automatically receive a business tax number for use with the Canada Revenue Agency, rather than having to obtain it separately.

Access to business banking and loans

Banks in New Brunswick may not allow you to open a business banking account or qualify for business loans without registering your business.

Ability to obtain licences and permits

If your business requires permits and licences to operate in New Brunswick, you may need to register your business in the province first.

Legal structure and protection of personal finances and assets

Registering gives you a legal business structure under which to operate. This structure may protect your personal finances and assets from the business’ finances and assets. If someone sues your business, your personal assets remain off limits to the lawsuit under the right structure.

Frequently asked questions