Dissolving a Corporation in Alberta

There are various reasons for changing the name of your Alberta corporation. You might want to rebrand your business, better reflect your company’s focus, comply with new market trends, or adapt to shifts in your industry. Name changes can also occur due to legal requirements, mergers, or acquisitions.

Dissolution refers to the formal process of winding up and closing down a corporation’s operations in Alberta. It involves settling outstanding debts, distributing assets, notifying stakeholders, and fulfilling legal requirements to officially terminate the corporation’s existence

Corporations may be dissolved for various reasons, such as business restructuring, changes in ownership, financial difficulties, the retirement of owners, or a shift in business focus. Dissolution could also result from the completion of a project or the company’s inability to continue operations.

To begin the dissolution process, you’ll typically need to pass a resolution among the directors or shareholders to approve the dissolution. Then, you’ll need to prepare and file the required legal documents, such as the Articles of Dissolution, with our corporate registry agents.

The duration of the dissolution process can vary based on factors such as the complexity of your corporation’s financial affairs, the number of outstanding obligations, and the efficiency of document preparation and filing. It’s advisable to allow several weeks to months for the entire process.