No - If your company intends to operate under your legal corporate name, then you do not need to register your business.
Yes - If your company intends to operate under a name other than its legal corporate name, then you must register this name under the Business Names Act. For example, if your corporate name is ABC Ltd. and you wish to open a restaurant called ABC Diner, then the latter name must be registered. The name you register cannot have any of these legal elements: "Limited", "Limitée", "Incorporated", "Incorporée", "Corporation", "Ltd.", "Ltée", "Inc." or "Corp." within the name. As well, if you are entering into a partnership or sole-proprietorship you will need to register your business name.
Master Business License (MBL) - You will obtain an MBL valid for 5 years upon registration.
Business Identification Number (BIN) - You will be issued with a BIN by the Companies and Personal Property Security Branch (CPPSB).