Released on December 8, 2011
Saskatchewan has taken the first step in streamlining business registration and reporting requirements across the three westernmost provinces as part of the New West Partnership Trade Agreement.
The Miscellaneous Business Statutes Amendment Act, 2011 has been introduced today that will facilitate businesses that register and report as a corporation in Saskatchewan to also operate in Alberta or British Columbia.
"This agreement strengthens and helps to build on Saskatchewan's opportunity-rich economy and competitive business environment," Minister responsible for Information Services Corporation (ISC) Tim McMillan said. "By streamlining the regulatory requirements required to start and operate a business across our three provinces, we are making it easier to do business in the west."
Under the New West Partnership Trade Agreement, the governments of Saskatchewan, Alberta and British Columbia agreed to reconcile business registration and reporting requirements. Effective July 1, 2012, businesses registering as a corporation will no longer need to register separately in each of the three jurisdictions. By choosing "extra-provincial" as an option when they register in their home province, business corporations will automatically be registered in the other two westernmost provinces and registration fees for the other provinces will also be waived. It also allows business corporations to file one annual return in their home province, instead of three separate returns. By July 2013, this benefit will be expanded to include other business entities (such as co-operatives).
"As the administrator of Saskatchewan's Corporate Registry and Business Registrations Saskatchewan, Information Services Corporation (ISC) is already focused on ways to streamline processes across government, with a goal of reducing effort and costs for businesses and government," ISC Vice-President of Marketing and Business Development Bryan Burnett said. "We are working closely with Alberta and British Columbia to ensure compatible policies and regulations and common data exchange processes are developed together. We look forward to the positive impact these changes will make for the business community, starting on July 1."
The New West Partnership Trade Agreement is a far-reaching economic partnership between the provinces of British Columbia, Alberta and Saskatchewan, designed to foster prosperity for our people through meaningful interprovincial collaboration.
For more information, visit the New West Partnership at http://www.newwestpartnership.ca/.
For more information, contact:
Information Services Corporation