It is relatively easy to start a small escort business in British Columbia, as the province provides you with stellar online resources and personal service to make your business registration as clear and simple as possible. This is especially true if you keep your business small and designed to be easily run and managed by a limited number of persons. When starting your escort business, you'll want clearly define what your business does, who manages it and who receives profits. The simpler the layout, the easier it will be to register the company and file business reports and taxes yearly. To learn why it is critical that you register your small business, refer to our article Don't get busted for tax evasion: Why registering your escort business is the only option.
Step four: Register your business / business name
Sole proprietorship / partnership
If you are going to run your business under your own name, you do not need to register your company with your local or federal government. This gives you great freedom in running your business without regulation and helps you keep discrete if you don't want to be too visible in the kind of business you are running.
However, if you are going to run your business under a separate business name, you need to get this name approved and registered before opening accounts with any financial institution or advertising your business. This registration does not guarantee ownership of the name, and several non-corporate businesses may function with the same business name, but it does guarantee ownership of the business in the legal/public eye.
To register your name, you must first submit a Business Name Request at B.C. Registry Services or by calling 604-775-5525 / 800-667-2272. This approval guarantees that your name is not misleading (as in calling your company a corporation when you are not or improperly representing the purpose of your company) or that it conflicts with another business in your area with a similar service.
Upon confirmation of the approved name, you must then register your name within 56 days at with BC Service Registry either online, or in person / by mail.
Corporation
As a corporation you must register your business with an approved business name, available at B.C. Registry Services or by calling 604-775-5525 / 800-667-2272. Approval of the name guarantees that no corporation is already registered with that name and that the name properly represents what your business does and whom it serves.
When this name is approved, you must then register your corporation. Because of the highly intricate legal nature of starting a corporation, it is highly recommended that you seek the advice of a business lawyer and accountant to aid you in the process. Assistance for finding a business lawyer is available at the Canadian Bar Association » British Columbia Branch.
If you choose to register independently, you can do so at Corporate Online or by purchasing a lawyer-prepared kit from Simply Legal at Small Business BC.
Because of the highly intricate legal nature of starting a corporation, it is highly recommended that you seek the advice of a business lawyer and accountant.
Step five: Register for / pay business taxes
- In 2010 British Columbia combined the former Goods and Services Tax (GST) and the Provincial Sales Tax (PST) into the Harmonized Sales Tax (HST), which now stands at 12% of your business revenue. If your business income is greater than $30,000 a year, you'll have to register your BN (Business number obtained upon registration) with the Canada Revenue Service.
- If you are a sole proprietorship or partnership, you'll have to report your self-employment income on your T-1 General return. Your choice of when your business year ends affects your tax bracket, so it's smart to do some research and consult with a professional when becoming familiar with self-employment and small-business taxes.
- If you have employees, you'll need to report and deduct payroll expenses at the Canada Revenue Agency. This contributes towards employment insurance, the Canadian pension plan and income tax.
- If you have employees, you'll need to provide workers' compensation and enroll your business with WorkSafe BC.
Step six: Get necessary licenses and permits
Registering your business or business name and any articles of incorporation will get you a Master Business License (MBL). This proves that your company has been registered with the Ministry of Government Services and has been given a Business Identification Number.
You may be required within your municipality to have additional licenses or permits, depending on how you're running your business specifically within that locality. For a personalized guide on which licenses and permits you'll need to obtain, go to the BizPal Service for British Columbia.
More information on starting a business in British Columbia
Find out how to register an escort business in each state of the USA and by province in Canada.
Please note: Dating.com is not a legal service, nor are we tax advisors or accountants. We do offer you what we consider our best advice, but if at all in doubt, please consult a professional.
