Personal Real Estate Corporation – Incorporate as an Alberta Real Estate Licensee

ACS is a private company. Our CORES-trained agents prepare your filing and submit it through a licensed Alberta registry agent. We are not a government office or a registry agent.

The registry filing for a PREC is the same as for any Alberta corporation: an Alberta NUANS report for a named corporation, Articles of Incorporation, the three notices, an agent for service and the government fee. What makes a PREC different is the set of conditions RECA attaches to it. Every RECA-specific rule on this page is checked against RECA's current rules before the page is published and again before any PREC is filed; until that check is complete, each one is flagged.

RECA professional corporation rules: what we confirm before filing

The Real Estate Council of Alberta regulates real estate licensees in Alberta. Secondary sources describe PREC-style rules in Alberta, and these are the points we confirm with RECA before we file:

• Who may incorporate. Whether an associate must hold a current RECA licence to set up a PREC and be paid through it.
• Share ownership. Which shares the licensee must hold, and whether a spouse or children may hold non-voting shares.
• Naming. Whether RECA requires or forbids particular words in the corporation's name, including whether "Professional Corporation" may be used.
• Licensing of the corporation. Whether the PREC itself must be licensed or registered with RECA, and what RECA charges.
• Order of steps. Whether RECA's approval comes before or after the Alberta filing.
• Brokerage. What your brokerage must agree to, and how commissions are paid to the corporation.

One thing we never do is give tax advice. Whether a PREC saves you tax depends on your income, your family and your plans, and that is a question for your CPA. We set up the corporation the way they recommend.

Who this is for

• Licensed real estate associates whose accountant has told them to incorporate and who want the articles right the first time, not amended later.
• Associates who already own a numbered company and need its articles brought in line with RECA's rules.
• Accountants acting for realtors who want the share classes drafted to their plan and the documents formatted for the minute book.

How it works

1. Order online (about 10 minutes). Give us your legal name as it appears on your RECA licence, the proposed corporation name or "numbered", your brokerage, a registered office address in Alberta, and your CPA's share instructions if you have them.
2. We confirm the RECA points. A trained agent checks the name, the share structure and the order of steps against RECA's current rules and calls you if anything needs to change.
3. We order the Alberta NUANS report for a named corporation and review it for conflicts. A numbered company needs no report.
4. We prepare and file. Articles of Incorporation, Notice of Address, Notice of Directors and Notice of Agent for Service go through our licensed registry agent partner, [Partner registry agent name]. Complete orders received before 3:00 pm MT are filed the same business day.
5. You receive your documents by email. The Certificate of Incorporation and every filed document, plus the minute book if selected, ready for your broker, your bank and your accountant.

Common mistakes we catch before filing

• Share classes that leave voting shares with someone other than the licensee.
• A corporation name RECA would not accept, or a name with no distinctive or legal element.
• A NUANS report that is more than 90 days old at filing.
• A P.O. box entered as the registered office.
• No agent for service, or a company named as agent instead of an individual located in Alberta.

What you need before you start

1. Your RECA licence details as they should appear in the corporate records.
2. Your name choice. A proposed name (we order and review the Alberta NUANS report) or "numbered".
3. A registered office. A physical street address in Alberta; a P.O. box on its own is not enough.
4. Directors. Usually you: full legal name and address, 18 or older.
5. An agent for service. An individual located in Alberta with an Alberta address; for most associates, that is you.
6. Your CPA's share plan, if one exists, and valid ID for the incorporator.

Requirements in Alberta

• Corporate filing: the same as any Alberta corporation under the Business Corporations Act: Articles of Incorporation, Notice of Address, Notice of Directors, Notice of Agent for Service, an Alberta NUANS report less than 91 days old for a named corporation, valid ID, and the government fee, which is included in our price.
• Directors: at least one adult. Alberta removed the Canadian-residency requirement for directors on March 29, 2021.
• Agent for service: an individual located in Alberta with an Alberta address; a lawyer is not required.
• RECA conditions: eligibility, share ownership, naming, licensing of the corporation and brokerage requirements.
• After incorporation: an Alberta annual return every year in your anniversary month (none in the year you incorporate). Your business number, GST account and T2 corporate tax return are handled with CRA, not Corporate Registry.