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How To Obtain A Certificate Of Good Standing For A British Columbia Company

Author : Holly Mansons

Basically a Certificate of Good Standing is required when you need to provide someone or some other company with the assurance that your BC company is in good standing.

Being in good standing means that the company is still active and has not been dissolved for non-filing of federal and/or provincial tax returns or non-filing of the BC annual reports. A BC company must file a BC annual report each year and if it does not file this return it will eventually be dissolved.

The Certificate of Good Standing for an BC company will provide the accurate current name of the BC company, the BC corporate number and its status.

BC companies must file federal tax returns each year and if those returns are not filed for a number of years the federal government will dissolve the company. If your address is current on file you will be provided with warning from them that tax returns are due. As well, BC companies must file BC annual reports each year and if those returns are not filed for a number of years the company will be dissolved.

It is very expensive to revive a company and the BC government puts the onus on the owners of BC companies to follow the statute requirements. It may not remind you that you have not filed your annual reports. Any reputable Canadian search house will be able to check for you to see that your annual reportss have been filed but there is a cost for this. You will need to order what is called a BC Corporate Search for your company.

You should realize that, although the BC government will dissolve your company for non-filing of income tax returns, a BC Certificate of Good Standing does not necessarily indicate that your tax returns are up-to-date. It only confirms that the corporate filings for a BC company are up-to-date and that the company has not been dissolved.

The government does not refund the money if the BC Certificate of Good Standing cannot be issued. Basically the government will issue a Certificate of Good Standing that indicates the BC company is not in compliance and you will then need to file any outstanding returns and order a new BC Certificate of Good Standing. A Certificate of Good Standing is not cheap so if you know in advance you have not made your filings you should at the least ensure all British Columbia annual reports are filed before ordering your BC Certificate of Good Standing. If you have some outstanding tax returns but have not been dissolved then you will still receive a favourable Certificate of Good Standing as long as your BC corporate annual reports have been filed with the BC government. Basically if too many years go by without filing your federal tax returns the Canada Revenue Agency requests the BC government to dissolve your company.

A British Columbia Certificate of Good Standing is not a BC Corporate Search. If you are trying to determine information about an BC company you should have a BC corporate search done rather than ordering a Certificate of Good Standing.

Author's Resource Box

Get certificates of good standing for British Columbia companies at the Canadian business resources website.

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Tags:   BC Certificate of Good Standing, British Columbia Certificate of Good Standing, Certificate of Good Standing, Certificate of Status

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Submitted : 2011-07-04    Word Count : 870    Times Viewed: 629