The Canadian province of Manitoba is recognized as a land of natural beauty filled with clean, safe, and friendly cities and towns that offer you a calm and relaxed lifestyle. Manitoba has one of Canada’s most reliable and diversified economies, with low cost of living and a wide array of opportunities for quality careers, education, and business.
Manitoba remains one of the fastest-growing Canadian provinces and one of the best places in the country where small businesses are enjoying tremendous growth. There are over 35,000 small businesses in Manitoba, and being in the heart of Canada, it is renowned as a very vital part of the flourishing Canada’s economy.
Also, since a good number of its businesses are small businesses, the economy is primarily focused on natural resources, and these borders more on agriculture. Manitoba’s farmlands are also a very significant part of the province’s economy; renowned as the third place in Canada to have the most farms.
The province of Manitoba, along with IRCC, offers foreign nationals the opportunity to invest, immigrate, and enjoy living in Canada via the Manitoba Investment Program. The MPNP-B will only nominate individuals eager to live in Manitoba with their dependent family members, make an investment into a new or existing business and also take up an active managerial role in that same business.
Have it in mind that the diversity of Manitoba’s growing industries and economic sectors ensures that the unemployment rate stays low, and also establishes a conducive environment for start-ups. Good wages, safe working conditions, generous benefits, and workers’ rights are some of the highlights of working or even living in Manitoba.
Steps to Register a Business in Manitoba
In recent times, Manitoba has adopted a unique approach to business registration. For instance, just as in many other Canadian provinces, unincorporated companies are not expected to register. They are only mandated to register their business name.
The only businesses not expected to register their business name are companies run under the sole proprietor’s name. Every other business is expected to reserve and register a name, while your next steps will depend on the business structure you choose. The basic steps to register a business in Manitoba include;
Choose Your Business Idea
The first step of registering a business in Manitoba is to decide on the type of business you intend to operate, and the type of business structure (sole proprietorship, partnership, or corporation) that will meet your needs.
Aside from putting together a detailed business plan to guide your steps, you should consider consulting with a lawyer or accountant, especially if you are not sure of the type of business structure that best suit your needs. Also carry out extensive research on the market, the industry, and your competition.
Reserving a Name
You are expected to register a business name before you can legally register your business in Manitoba. To register your business name, you will first have to submit a Name Reservation form to check if the name is unattached and free for you to use. Note that the Name Reservation filing fee is $45.00 and the Request for Name Reservation can be filed online.
To be approved, the name you choose will need to have a distinctive element (such as a catchy name, location, or personal name), a descriptive element (maybe the type of product or services provided), and if it will be a corporation it will be expected to end with a legal element (such as Inc., Ltd., or Corp.).
Once the name you’ve submitted is available, it will be reserved for a 90-day period, and then you can move on to the next step of either registering just the business name or incorporating your business.
Registering your business
After you must have reserved a name for your business, it is now time to move on to the next phase – business registration proper. If you intend to structure your business as a sole proprietor or a limited partnership, you will have to fill out and file the Registration of Business Name form.
This form is meant to be sent to the Companies Office attached with the $60.00 fee. To be approved, you have to complete the registration form using ink or have it typed. Have it in mind that the Companies Office does not accept double-sided forms or faxed copies of the form, therefore you have to forward this form directly to the Companies Office.
The form is mainly for you to provide basic personal and business information such as the business name, the contact person, the address of the business, the start date of the business, the type of business, coupled with your business number (if required), and registrant information.
For a corporation, after you must have reserved your business name, your next step will be to file the Articles of Incorporation and pay the $350 fee to the Companies Office. Once the Companies House acknowledges receipt of your Articles of Incorporation, you will be provided with a number assigned to the corporation.
You will also be expected to file another form referred to as a Request for Service, especially if you intend to incorporate it. Note that no fee is charged for this form, and it will be expected together with your Articles of Incorporation to complete the process.
Requirements for Registering a Business in Manitoba
In the Canadian Province of Manitoba, the primary requirement for business registration, regardless of the size and industry, is to have a name reservation completed with the Province of Manitoba Companies Office branch. Note that to have the name reserved with the province, you will be expected to provide at least a single name for the branch to review.
Whether it is for a new business or an amendment to an existing one, here are the basic requirements of registering a business in Manitoba;
- Proposed name of the business: Note that the name provided is expected to be the name that is submitted for the Name Reservation with the Province.
- The address of the registered head office: To be approved, this address will have to be located within the Province of Manitoba.
- The name(s) and the address(es) of the applicant(s).
- Business activity: A simple but concise description of the services or products the business will provide to clients.
- Contact Person: Have it in mind that this is the person who will most likely be contacted for any questions or concerns with the registration.
- Place of Business: You are expected to provide the full address of where the business is located. In the cities of Winnipeg and Brandon, a Postal Office box will only be accepted if the form provides a civic address for the mailing address or applicant(s) address.
- Starting date of the business: Note that this date will not have to be more than 30 days from the date of the initial registration. However, if the business is being renewed after 5 years or more of business, then only a month and year are required.
- In addition, if the registration that is submitted is a renewal, tax account information may be necessary for the renewal process.
Cost of Registering a Business in Manitoba
Name Reservation: $65
- Registration of Business Name
- Partnership: $60
- Sole Proprietorship: $60
- Power of Attorney: $40
- Incorporation: $350
- Non-Profit Incorporation: $120