The Registry of Companies is the second largest registry in the Commercial Registrations Division. There are presently 50,000 incorporations registered in the Registry, with approx. 26,000 active companies. The Corporations Act requires that all limited liability companies operating in Newfoundland and Labrador be incorporated or registered to do business in the province. Once registered, the Act places statutory requirements on the corporations to file documents notifying the Registrar and the public of changes in a corporation.
Some of the advantages of incorporation are:
- Perpetual existence
- Flexibility for financing
- Limited Liability
- Shares can be issued to employees without them becoming involved with management
- There are also tax reasons for incorporating
A sole proprietor is liable to the full extent of his or her personal assets for the liabilities of the business. To reduce this risk, companies are incorporated to limit the liability of the owners. A corporation is an entity separate and distinct from the shareholders whose liability is limited to the extent of the amount invested by the shareholders. Corporations are managed by the directors. The Registry of Companies does not maintain a list of shareholders.
Currently, Newfoundland and Labrador does not have legislation governing a Business Name Registry.
The Registry of Companies is also responsible for maintaining the Limited Partnership Registry, the Registry of Condominiums and the Registry of Co-Operatives for the province.
Legislation and Regulations
- The Registry of Companies is governed by the Corporations Act and Regulations.
- The Registry of Limited Partnerships is governed by the Limited Partnership Act and Regulations.
Forms may be downloaded for your convenience. Links to specific forms are found throughout this web site, or you may browse our entire list.
The Minister of Service NL prescribes all fees (70 KB). Furthermore, no provision exists in the legislation giving the Registrar authority to waive any fee or penalty.
Newfoundland and Labrador has one of the most favourable business tax climates in Canada. Our Corporate Income Tax rates are amongst the lowest in the country. Refer to the Department of Finance for more information.
Hours of Operation
Hours of operation for the Registry of Companies are as follows:
- Summer hours: 8:30 a.m. to 4:00 p.m.
- Winter hours: 8:30 a.m. to 4:30 p.m.
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