NS Registry of Joint Stocks: Plain English Guide to the RJSC
Welcome to the plain English guide to the NS Registry of Joint Stocks!
If you’re looking to start a business in Nova Scotia, you’ll need to register your Nova Scotia business with the Registry of Joint Stock Companies (also known as the RJSC). This guide will help you understand the process of registration, as well as the benefits and legalities of maintaining your registration.
Key Takeaways
- Registering your business or non-profit with the NS Registry of Joint Stocks is a legal requirement in Nova Scotia
- The registry maintains a database of information about registered businesses, which is available to the public
- To register, you’ll need to fill out forms and provide certain information, and you’ll receive a certificate of registration once the process is complete.
What is the NS Registry of Joint Stock Companies?
The Registry of Joint Stock Companies (RJSC) is a government agency that is responsible for registering and maintaining a database of all businesses and non-profit organizations in Nova Scotia. It is part of the Nova Scotia Department of Business, and its main function is to provide a single point of contact for businesses and non-profits to register, renew, and make changes to their registration.
Why Should You Register with the NS Registry of Joint Stock Companies?
Registering your business or non-profit with the Registry of Joint Stock Companies is important for several reasons:
- It is a legal requirement. All businesses and non-profits that operate in Nova Scotia must be registered with the Registry of Joint Stock Companies. Failure to register can result in fines and other penalties.
- Registering provides you with legal protection. When you register your business or non-profit, you are creating a legal entity that is separate from yourself. This means that if your business or non-profit is sued, your personal assets are protected.
- Registering gives you credibility. When you register your business or non-profit, it shows that you are serious about your venture and that you are committed to following the rules and regulations that govern businesses and non-profits in Nova Scotia.
How to Register with the NS Registry of Joint Stock Companies
Registering your business or non-profit with the Nova Scotia RJSC is a straightforward process. Here are the steps you need to follow:
- Choose a legal structure. The legal structures available are sole proprietorship, partnership, corporation, co-operative, or society.
- Choose a name for your business or non-profit that meets the guidelines provided by the Registry of Joint Stock Companies. You can learn how to search the registry and reserve a name with the registry.
- Fill out the appropriate registration forms. You can find the forms on the Registry of Joint Stock Companies’ website. Make sure you have all the necessary information before you start filling out the forms.
- Submit the forms and pay the registration fee. You can submit the forms and pay the fee online or by mail. If you choose to submit the forms by mail, make sure you allow enough time for your documents to arrive at the Registry’s office and for processing.
- Wait for confirmation of your registration. Once your registration has been processed, you will receive confirmation from the Registry of Joint Stock Companies.
It’s important to note that most businesses and non-profits need to register with the Registry of Joint Stock Companies before they can start operating in Nova Scotia. By registering, you are ensuring that your business or non-profit is recognized as a legal entity and that you have the necessary permits and licenses to operate.
Benefits of Registering with Joint Stocks
If you’re a business or non-profit operating in Nova Scotia, registering with the Registry of Joint Stock Companies can bring numerous benefits. Here are two key benefits to consider:
Legal Protection
When you register your business or non-profit with the Registry of Joint Stock Companies, you gain legal protection. This means that your business or non-profit becomes a separate legal entity, distinct from its owners. As a result, your personal assets are protected in case your business or non-profit faces legal action. This can give you peace of mind and help you focus on growing your business.
Credibility Boost
Registering with the Registry of Joint Stock Companies can also boost your credibility. It shows that you’re serious about your business or non-profit and that you’re committed to complying with government regulations. This can help you build trust with customers, suppliers, and other stakeholders. Additionally, being registered can make it easier to access financing, as lenders often prefer to work with registered businesses and non-profits.
Registry of Joint Stocks Renewal
Once you’ve registered your business or non-profit with the Registry of Joint Stock Companies, you need to maintain your Joint Stocks registration to keep your organization in good standing. This section covers the two main aspects of maintaining your registration: Annual Renewal and Information Update.
Annual Renewal
Every year, you must renew your registration with the Registry of Joint Stock Companies. This is a simple process that involves filling out a form and paying a fee. The fee varies depending on the type of organization you have registered, so be sure to check the fee schedule on the Registry’s website.
If you fail to renew your registration on time, your organization will be placed in default status. This means that you will not be able to conduct business until you have brought your registration up to date. You will also be charged a late fee.
To avoid default status, be sure to renew your registration on time each year. Set a reminder for yourself a few weeks before the renewal deadline so that you don’t forget.
Information Update
You are required to keep the information on file with the Registry of Joint Stock Companies up to date. This includes your organization’s name, address, and contact information, as well as the names and contact information of your directors and officers.
If any of this information changes, you must update your registration with the Registry within 15 days of the change. Failure to do so can result in penalties and fines.
To update your information, you can log in to your account on the Registry’s website and make the necessary changes. You can also submit the changes by mail or in person at the Registry’s office.
Keeping your registration up to date is important to ensure that your organization is in good standing with the Registry of Joint Stock Companies. Be sure to renew your registration annually and update your information as needed to avoid penalties and fines.
Dissolution and Deregistration
If you no longer want to operate your business or non-profit organization in Nova Scotia, you can voluntarily dissolve it. However, if you fail to comply with certain legal requirements, your business or non-profit can be forcibly deregistered by the Registry of Joint Stock Companies.
Voluntary Dissolution
To voluntarily dissolve your business or non-profit, you need to file the appropriate forms with the Registry of Joint Stock Companies. The forms required depend on the type of organization you have. For example, if you have a corporation, you need to file Articles of Dissolution. If you have a partnership, you need to file a Partnership Dissolution form.
Before you file for dissolution, make sure you have paid all outstanding fees and taxes and have settled any debts owed by your organization. You also need to cancel any licenses or permits your organization holds and close any bank accounts.
Once you have filed the required forms and paid the fees, the Registry of Joint Stock Companies will review your application. If everything is in order, they will issue a Certificate of Dissolution, which officially dissolves your organization.
Forced Deregistration
If you fail to comply with certain legal requirements, your business or non-profit can be forcibly deregistered by the Registry of Joint Stock Companies. This can happen if you do not file annual returns or financial statements, do not pay fees or taxes, or do not maintain a registered office or agent.
If the Registry of Joint Stock Companies determines that your organization has not complied with these requirements, they will send you a notice of default. If you do not rectify the default within a specified period, the Registry will issue a notice of intent to deregister your organization.
If you still do not comply, the Registry will publish a notice of deregistration in the Nova Scotia Royal Gazette and send you a notice of deregistration. Once your organization is deregistered, it no longer has legal existence and cannot carry on business or hold assets.
It is important to comply with all legal requirements to avoid forced deregistration. If you need help understanding your obligations or want to voluntarily dissolve your organization, you can contact the Registry of Joint Stock Companies for assistance.
For more information on voluntary dissolution and forced deregistration, visit the Nova Scotia Registry of Joint Stock Companies website or consult the Partnerships and Business Names Registration Act.
Understanding the Legalities
As a business owner in Nova Scotia, it is important to understand the legalities surrounding your business. This section will provide you with a brief overview of the compliance laws and tax obligations you need to be aware of.
Compliance Laws
When it comes to compliance laws, the Registry of Joint Stock Companies is responsible for ensuring that businesses and non-profits operating in Nova Scotia comply with the laws and regulations set out by the government. This includes registering your business or non-profit, filing annual returns, and maintaining accurate records.
If you fail to comply with these laws, you could face penalties or fines. It is important to stay up to date with any changes to the laws and regulations so that you can ensure your business remains in compliance.
Tax Obligations
As a business owner, you are responsible for paying taxes on the income your business generates. This includes both federal and provincial taxes. The Canada Revenue Agency (CRA) is responsible for administering federal taxes, while the Nova Scotia Department of Finance is responsible for administering provincial taxes.
It is important to keep accurate records of your income and expenses so that you can accurately calculate your tax obligations. You may also be eligible for certain tax credits or deductions, so it is important to consult with a tax professional to ensure that you are taking advantage of all available options.
Overall, it is important to stay informed about the legalities surrounding your business in order to ensure that you remain in compliance with the laws and regulations set out by the government. For more in-depth information on compliance laws and tax obligations, you can visit the Registry of Joint Stock Companies and Nova Scotia Department of Finance websites.
Frequently Asked Questions
Is it mandatory to register a joint stock company in Nova Scotia?
Yes, it is mandatory to register a joint stock company in Nova Scotia before you start operating. All businesses and non-profits need to register with the Registry of Joint Stock Companies. The registration process is easy and straightforward.
What is the process for obtaining a Nuans report in Nova Scotia?
A Nuans report is required when registering a business in Nova Scotia. You can obtain a Nuans report from a Nuans service provider. The report will provide you with a list of existing businesses with similar names to yours.
Can I search for a business in Nova Scotia using NS Property Online?
No, you cannot search for a business in Nova Scotia using NS Property Online. NS Property Online is a service provided by the Nova Scotia government that allows you to search for property information, such as property assessments and taxes.
What are the requirements for the Memorandum of Association for a Nova Scotia joint stock company?
The Memorandum of Association is a legal document that outlines the company’s objectives, powers, and scope of activities. The Memorandum of Association for a Nova Scotia joint stock company must be in compliance with the Nova Scotia Companies Act.
What are the Articles of Association for a Nova Scotia joint stock company?
The Articles of Association are a legal document that outlines the company’s internal regulations, such as the rights and responsibilities of shareholders, directors, and officers. The Articles of Association for a Nova Scotia joint stock company must be in compliance with the Nova Scotia Companies Act.
Where Can I Find the Nova Scotia Joint Stocks Login Page?
You can log into the NS Registry of Joint Stocks here.
NS Registry of Joint Stocks Resources
- Registry of Joint Stock Companies – Main Government Webpage
- Register a Business or Non-Profit: Step-by-Step
- Search for Business Information
- Reserve a Name
- Choose a Legal Structure
- Registry of Joint Stock Companies requirements
- Joint Stocks Forms & Documents
- Joint Stocks Fees
- Joint Stocks Processing Dates
