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ARTICLE · 06 AUGUST 2020

Is The Alberta Advantage Back?

Miller Thomson
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Miller Thomson

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The COVID-19 pandemic is having a devastating global economic impact. To boost the Alberta economy and attract more business, the Alberta Government has recently announced several measures.

CanadaTax
Colleen Ma
Colleen Ma
Evelyne Vacy-Lyle
Evelyne Vacy-Lyle
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The COVID-19 pandemic is having a devastating global economic impact. To boost the Alberta economy and attract more business, the Alberta Government has recently announced several measures.

A. Repealing Residency Requirement for Directors

U.S. and other foreign‑based businesses looking to incorporate a Canadian subsidiary will have another option where there will be no Canadian director.

On July 23, 2020, the Red Tape Reduction Implementation Act, 2020 (the "RTRIA"), which made amendments to several pieces of legislation, received royal assent. For corporations incorporated in Alberta, the Business Corporations Act (Alberta) (the "ABCA") previously mandated that one quarter of corporate directors be resident in Canada. The RTRIA amended the ABCA by repealing this requirement. While Alberta joins other provinces and territories that do not require a Canadian resident director, the Ontario and federal legislation, among others, still have corporate director

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