PROFESSIONAL CORPORATIONS
WHO CAN INCORPORATE A PROFESSIONAL CORPORATION
& WHY SHOULD YOU?
Certain regulated professionals want to establish and practice under a corporation for multiple reasons. The most common and important reason is to have advantage of corporate tax benefits issued to corporations under the current Canadian Law. However, the only way for these professionals to incorporate their own company, is to incorporate a 'Professional Corporation'.
Professional Corporations holds a valid certificate of authorization from their governing body and will not limit the professional liability of any shareholders who own shares of the Professional Corporations.
The professionals who are captured under these laws include lawyers, accountants, doctors, dentists and a number of other regulated health professionals.
STEPS TO INCORPORATE A PROFESSIONAL CORPORATION
STEP ONE: INCORPORATING PROFESSIONAL CORPORATION
The first step is to incorporate and organize a professional corporation in compliance with the requirements of the Ontario Business Corporations Act and your governing body. Once incorporated, Amskor Law will provide you with the following documents and information:
​
-
Minute Book
-
Articles & Certificate of Incorporation
-
Corporate By-Laws
-
Corporate Resolutions of Shareholders and Directors
-
Share Certificates
-
Share Subscriptions
-
Shareholder Registers
-
Director Registers
-
Officer Registers
-
Shareholder Ledgers
-
Filing of Form 1 Initial Returns
-
Corporate Name Search (Nuans Reports)
-
Corporate Business Number (BN)
-
Business Identification Number (BIN)
​​
STEP TWO: APPLICATION FOR CERTIFICATE OF AUTHORIZATION
The second step is to prepare and file the application materials with your governing body to obtain a certificate of authorization to practice your profession in Ontario through your new professional corporation.
​
We will prepare all the application materials and once signed by you, they will be delivered immediately to your profession's governing body for processing and approval.