Sole proprietorships and partnerships

On this page

  • Start a business organization
  • Make changes to a business
  • Dissolve or end a business


Coming in the Summertime of 2022
A new manner of registering your business

Preview a sample of the new process of registering your business organization
in the new BC Concern Registry.

Sole proprietorships and partnerships have a registered concern name for legal and revenue enhancement purposes.

A sole proprietorship is a business organization with only one possessor.

A sole proprietor is self-employed, performs all business operations and assumes all liabilities.

A partnership company is operated by 2 or more parties.

In a general partnership, partners are responsible for all aspects of the business organisation, including the debts of the partnership.

A limited partnership (LP) can take general and limited partners. Mostly speaking, at that place's a limit on the liability of a limited partner, while the full general partner's liabilities are not limited.

A limited liability partnership (LLP) is has no general partners and all partners have limited liability.

Come across the Partnership Deed

Beginning a sole proprietorship or partnership

To conduct business concern equally a sole proprietorship or partnership, you demand to reserve a business concern name and annals the business.

If you're going to practise business under your name, yous exercise not demand to asking a business name or register the business with the province.

Step 1

Step 2

Request and reserve a business proper noun online ($30 fee)

Businesses must have their proper noun approved and confirm that it doesn't conflict with a proper name already beingness used by a corporation. Only incorporated companies, cooperatives or societies can guarantee exclusive use of their name. Find out how to choose the correct proper name.

If you're unable to submit a request online, complete the Name Request form (PDF, 117KB) and post it or drop it off at a Service BC location with payment. Make check or coin lodge payable to the Minister of Finance.

Information technology takes about 7 to 14 days to procedure a name request. Once it'southward complete, y'all'll receive a confirmation e-mail and a proper name request number you tin utilize to register your business organization. Exist sure to complete the registration before the proper name request expires (56 days afterwards it's approved). If non, you'll need to submit another proper noun request. Request priority service ($100 fee) if you need to have a proper noun approved in 1 to two business days.

Annals a "doing business as" (DBA) name to operate an existing visitor under another name (e.g. a numbered visitor that does concern under a DBA name). Any visitor or organization tin can utilise this choice except sole proprietorships.

The new registration of a business name volition exist either a proprietorship or partnership. This option is bachelor to all entity types, except sole proprietorships.

Step 3

Annals a sole proprietorship or general partnership online using OneStop ($twoscore fee). Find out more virtually OneStop. If you can't annals online, complete a newspaper grade:

  • Statement of Registration Sole Proprietorship (PDF, 200KB)
  • Statement of Registration Full general Partnership (PDF, 187KB)

Register a limited partnership ($165 fee) or limited liability partnership ($275 fee) using one of the following forms. This is a newspaper filing but.

  • Declaration for British Columbia Limited Partnership (PDF, 468KB)
  • Registration Statement for Limited Liability Partnership (PDF, 205KB)

Limited partnerships and limited liability partnerships tin can register every bit an extraprovincial partnership. Companies from, or that plan to do business in, Alberta, Saskatchewan or Manitoba can follow the New West Partnership Trade Agreement (NWPTA) procedure to register.

Submit forms in person at a Service BC location and pay past greenbacks, debit or credit carte or submit it past mail using the address on the grade. Include a cheque or coin order fabricated payable to the Minister of Finance.

It normally takes 5 to x working days to process a registration once it'south received. When the registration is completed, a copy of the Statement of Registration and business organization number will be mailed to you. Cheque current processing times.

"Business registration" with the provincial authorities is dissimilar than getting a "concern license." Check with your municipal/local government near how to become a business license in the area where you live or want to exercise business organization.

Make changes to a business organisation

You lot must have signing authority to change the location and mailing address of a business and will need your registration number.

At that place is no fee to make an address change.

Make an address change:

  • Online using AddressChangeBC

OR

  • Past completing the Change Proprietorship or Partnership Registration class (PDF, 88KB). Follow instructions on the form to submit it or drop information technology off at a Service BC location

If yous're irresolute the business concern address location, information technology must be a concrete address and include a postal lawmaking. If the location address does not have street names or numbers, provide a description that will readily let a person to locate you (due east.chiliad., the 2nd business firm on the left side, 4 miles west on Primal Canton Road, Creston, B.C.).

To make this change, y'all need to annals an entirely new business organisation. This means completing the same steps required to start a business organization.

You lot'll need to dissolve or end the original business once the new business organisation is registered.

Dissolve or end a sole proprietorship or partnership

All information must exist up-to-date and correct before dissolving a sole proprietorship or partnership. You lot cannot file a change to the business and a asking to dissolve it at the aforementioned fourth dimension. The asking to deliquesce must be done separately. The dissolution date must be on or afterward the registration appointment.

There is no fee to dissolve a sole proprietorship or partnership. Dissolutions cannot exist submitted online.

To dissolve a business organization, complete one of the following forms and follow instructions on the form to submit it:

  • Sole proprietorships or general partnerships: Dissolution of Proprietorship or Partnership Registration form (PDF, eighty.6KB)
  • Limited partnerships: Proclamation for Express Partnership form (PDF, 468KB)