How to register a company in Vancouver?What are the differences between different types companies?
It's very easy to open your business in Vancouver. In BC, there's no another place better than Vancouver. You only spend 5 min you can open your own business. It's very easy. And but before you go to do that, you need to think about a few things.
The 1st one is you're going to do this business in BC only, or you will do it in another province or other provinces. If yes, you need register a federal company, not a provincial company. If you're only staying in BC and for a very long time, maybe for the next ten years or something, and just register a provincial company is enough.
The provincial company is a little bit easier and cheaper. Even if you register the federal company, you still need to register in that province you're going to do business in. So it will be a little bit complicated if you only to do business in one province. Another thing you need to think about is what kind of company you're going to open.
There are three kinds of businesses. The 1st one is incorporation, or you call it limited company. This kind of company is very common. It's very normal for people to open business. It means there's a boundary between your private properties and your business asset, business properties.
If something happened to your business, e.g., you get a lawsuit and for your business, and you need to pay people $1 million. And then in your company, you only have $100000 cash and asset, and you still short of 900 founders. What can they do? They cannot do anything.