BC Cooperative is incorporated with the BC Registries under the Cooperative Association Act. It is recognized as a separate entity from its members for legal and tax purposes.
A BC C-op is formed by a group of people for a common need such as access or sale to products or services. Examples of Co-op establishments are retail Co-op, housing Co-op, financial Co-op, health-care Co-op, child-care co-op, producer co-op, employees Co-op, etc.
- Cooperative Society
Who can incorporate a Co-op:
- A minimum of three subscribers is required.
- A minimum of three directors, who are 18 years or older, is required.
- Currently there is no citizenship or residency requirement for people who can be the directors, officers, and shareholders.
What is required to incorporate a BC Co-op:
- A name approval number from BC Registries for the company (if it is to be a named corporation).
- A physical address or street address in the Province of British Columbia.
- For the incorporation process, a minimum of 3 Directors, 3 Incorporators, 3 subscribers and one contact person is required.
What you get
After registering the BC Standard Company, you will receive the following as pdf documents by email:
Processing time: 3-4 Weeks by manual process.
Is Co-op the right choice for you?
The decision to incorporate depends on the purpose of the company registration and needs of the individuals involved. If the requirements involve any or all of the following then Co-op is the right choice for you:
- To form a corporation that makes profit which goes to the people in your community.
- To form union of people where each member inputs resources, knowledge, skills, and capital of its members for a common result.
What are the advantages of registering a BC Co-op Association?
- Co-op, being an incorporated business, is perceived as being more stable than unincorporated businesses.
- Limited Liability to owners/shareholders for business risks.
- Ownership is transferable.
- Continuous existence.
- There are many tax benefits and advantages for a corporation.
What are some of the types of Co-ops that can be formed in BC ?
- Consumer Co-op.
- Worker Co-op.
- Producer Co-op.
- Agricultural Producer Co-op.
- Small Business Producer Co-ops.
Is BC Co-op a non profit organization?
No. Co-op is a for profit registration.