Security Industry and Licensing
Changing the Security Business Company Type
Overview
As a general rule, if the security business changes company type, but retains all of the existing security services (no changes), then the change of company type can be filed with the Registrar using the Update form.
However, if the security business changes company type, and adds new security services or changes existing security services offered by the company, then the security business must apply for a new licence. The old business licence is eliminated.
See the Forms and Guide page for application forms.
For more detailed information read the busines types listed below. Application process to use for each type of business change is identified.
Sole Proprietor
Sole Proprietor is a company that is owned by one person. The company may or may not be registered with the B.C. Corporate Registry. The company may be using the owner’s legal name or a trade name.
For example:
Legal Name: DOE, John Riley / Trade Name: Riley's Security Business
Refer to the Security Worker section of this website for information on acquiring a security worker licence or adding a licence type to a current security worker licence.
If a Sole Proprietorship currently holds a Security Business Licence and wants to make changes to the company type, it may impact that licence. See chart below.
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Partnership
A Partnership is a company that is owned by more than one person. The company may or may not be registered with the B.C. Corporate Registry. The company may be using the owners’ legal names or a trade name.
For example:
Legal Name: DOE, John Riley & Smith, Jane Bailey
Trade Name: Riley, Bailey Security Services
Note: A partnership may use a trade name but that trade name is not protected in any way—there is nothing stopping another company from using the same trade name. If the original company wanted this stopped, it would have to be done through the court system. The Registrar, under the Security Services Act, has no authority to intervene.
If a Partnership currently holds a Security Business Licence, and they want to make changes to the company type, it may impact that licence. See chart below:
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Registered Company
A Registered Company is a company that is owned by more than one person and is registered with the B.C. Corporate Registry.
For Example:
Legal Name: Riley Bailey Security Services Ltd. – Usually a Registered Company would use Ltd., Limited, Inc., Incorporated, Corp. or Corporation in the company’s legal name.
Trade Name: R & B Security
Note: A Registered Company may use a trade name but that trade name is not protected in any way—there is nothing stopping another company from using the same trade name. If the original company wanted this stopped, it would have to be done through the court system. The Registrar, under the Security Services Act, has no authority to intervene.
If a registered company originates from outside of B.C. and wants to do business in B.C., using their existing company name, an “Extra-Provincial Company Registration” is required.
Buy Out: Changes to a registered company are a little more complicated. When a company is bought, it can be done one of two ways:
- Asset Purchase: All assets are purchased; the Legal Name? the Trade Name? may or may not be purchased; and the company that has been purchased becomes a ‘shell company’ and would more than likely close their business down.
- Shares Purchase: An incorporated registered company buys shares in another registered company, becoming a ‘shadow company’. If a Registered Company currently holds a Security Business Licence, and they want to make changes to the company type, it may impact that licence (as show in the chart below).
>>Back: Security Business – Licensing Information and Process
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