Experienced Surrey Registration of Sole Proprietorship Lawyer
Serving Greater Vancouver and Surrey
A sole proprietorship is the simplest form of a business organization that is owned and operated by a single individual. A person who operates a sole proprietorship is considered as self-employed. In a sole proprietorship, there is no legal distinction between the business and the individual that owns it. This means as a sole proprietor, you are responsible for all business decisions, gain profits and claim all losses. Therefore, you agree to accept any liability that may arise from any of your business dealings. There is also no difference between business assets and personal assets. That means your assets may be seized to discharge a business liability.
While there are cases in which you will not be legally required to register a sole proprietorship, you may still want to register your business for several reasons. For example, if you would like to open a business bank account, you will be required to present a copy of your business registration. Likewise, if you want a business licence, you will need to register your business first.
Do you need help registering a sole proprietorship in Surrey?
Sometimes, registering a sole proprietorship is not as straightforward and simple as it may seem. If you are having challenges attempting to register a sole proprietorship in Surrey, the experienced small business lawyer at Nirwan Law Corporation can help. Before registering your business, our small business lawyer will explain how the process works and all your legal responsibilities. So, what are you waiting for? Give us a call today to schedule an appointment with our small business lawyer.
Why Choose Us – Business Law Firm
Assist you through the entire Process
Assess your particular Needs
Guide you through each step
Draft and file all required documents
Transfer title successfully
We are client focus and result driven, dedicated to your success.
Knowledge, skills & experience on your side.
Limited Liability occurs when a company is incorporated. A primary advantage to incorporating a business is the limited liability conferred upon its shareholders. The shareholders are not liable, in most cases, for the debts and other obligations of the corporation. A shareholder’s liability for the debts of the corporation is limited to the amount of funds the shareholder has invested in the corporation. Creditors only have rights against the corporation itself and not against the shareholders.
A corporation is a legal entity that has its own legal personality which is distinct from its owners (called shareholders) and the individuals who manage and run its affairs and business (called directors and officers). The creation of a corporation occurs following the proper filing of Articles of Incorporation (also called a Charter, Certificate of Incorporation or Letters Patent) with the relevant government department or authority.
Every corporation is comprised of shareholders, directors and officers. Shareholders, as the name implies, are the ones who hold (i.e., own) the shares in the corporation. By reason of the votes that are usually attached to the shares, the shareholders control the corporation. If there is only one shareholder, that person has absolute control of the corporation. If the corporation has numerous shareholders, control of the corporation depends on who has a majority of the voting shares. However, the shareholders do not directly manage the corporation. They exercise their influence by electing and removing directors and approving or disapproving major corporate decisions.
When purchasing a home you should contact a lawyer as soon as possible. Once a lawyer is involved, they can start working to protect the purchaser’s interests. “Buyer Beware” is still the law in BC. Be sure to check the home you are planning to buy very carefully. In other words, be sure to do your due diligence investigations. As your real estate lawyers, we will ensure property taxes are up-to-date and no claims are listed against the property.
Real estate layers oversee the process of buying or selling property to ensure the interest and right of clients are preserved. The purchase of a home is one of the biggest investment most of us will ever make. Real estate closing is a complicated legal process involving the execution of many legal documents which have significant financial implications. You want to protect your investment. A purchaser’s lawyer goes over the agreement of purchase and sale to make sure the buyer is protected. The lawyer checks title, or chain of ownership of the property, for any problems or liabilities such as liens. All mortgage loan documents and legal papers are verified for the purchaser. A seller’s lawyer will check the agreement of purchase and sale to protect the seller and address any title issues that arise, arrange for final payoffs for existing loans and prepare the necessary documents to transfer ownership of the property. As your real estate lawyers, we will examine all of the closing documents on your behalf to make sure your rights are protected.