There are several common types of businesses, please review each one to see which one is right for you.
*Please note: The Corporate Registry cannot provide advice about whether you should incorporate or what type of business would be best for you. You should contact a lawyer to discuss your legal concerns or an accountant to discuss your financial concerns.
A sole proprietorship is a business with only one owner. It is the simplest and most flexible business structure. The owner may be either an individual or a corporation.
A partnership is a business owned by one or more individuals or corporations. Within a partnership, each partner is potentially liable for all debts of the partnership.
Additionally, partnerships can be structured as a joint venture or syndicate, where generally there is not an even sharing of profits or liabilities. For example, each partner in a joint venture or syndicate, while operating under the same business name, creates their own income and their own liabilities.
In a limited partnership, there must be at least one general partner and at least one limited partner.
The formation of a limited liability partnership is limited to professions.
A non-profit corporation is formed to carry on activities for purposes other than the financial gain of its members. It can earn a profit, but any profit must be used to further the goals of the group rather than be paid out to the members.
A business corporation is a legal entity that has a separate legal existence apart from its shareholders and directors. It is sometimes also referred to as a limited company.
A condominium corporation is created upon titles being issued to the units of a new condominium plan. The condominium corporation is then registered with the Corporate Registry.
A co-operative is a term used to describe a business organisation that is owned and democratically controlled by its members. A new generation co-operative is a distinct type of organization which is collectively owned and democratically controlled by its members.
There are several types of businesses that may be registered in other provinces from Saskatchewan and in Saskatchewan from other provinces. New West Partnership provinces include British Columbia and Alberta. These provinces experience efficiencies in the registration process.
Have you decided your business type?
Go to step 2: Reserve a Name