Ontario Professional Corporation

A professional corporation can be ready as soon as the article is approved by governing body. Based on your selected service queue, our lawyer will prepare the article in accordance with the governing body's rules and regulations. Then article will be given to you to have a look and ensuring the approval from the governing body. Once we get confirmation from you and governing body to proceed, we will register in the queue you selected. Normally, corporation is ready in 1 business day.

A professional corporation must have a name. To get the name approved from government, a valid NUANS report must be submitted which is obtained from Industry Canada (federal govt.). Since we are agent of Industry Canada, we can obtain the report for you. If you have already obtained from any agency, you can upload it here.

A name normally can have 3 elements: distinctive element, descriptive element and legal element. The distinctive element is the unique element that distinguishes the name from others. This element can't be common English word. The descriptive element is not mandatory . It can be common words that describe the business. Legal element is fixed and that is 'professional corporation'. An example is "Johnson engineering professional corporation". In this name 'Johnson' is the distinctive/unique element; 'engineering' is the descriptive element, and 'professional corporation' is the legal element. Without descriptive element, it can be Johnson Professional Corporation. Put your proposed name, if this does not meet eligibility, we will contact you.

We are an agent of Industry Canada and Ontario corporation name database. Before we submit a name to government, we do a pre-search first. If pre-search result shows good, we submit name approval. If pre-search result shows conflict, we will request you for alternative name by email, up to 30 names at free of cost.

It is the location where business is located. It can be a commercial rented place or home address. It can't be a P.O Box, must be a physical address. CRA documents will go to this address.

Yes, it can be changed later. In many cases when commercial place is not rented yet, residential address is given.

Typically, contact person is the primary owner or the primary director of the corporation.

If you are doing corporation for a client, you may give here the name of the owner of the corporation. This is for government's records. We don't contact this person, rather we contact the person mentioned in billing. You can write your details in the billing.

Incorporator is the person(s), under whose authority this corporation is created; typically, the primary owner of the corporation.

Director is the overall head of the corporation, typically, all the owners. You can add more than 1 director (up to 10). Each director has equal powerful and access to the corporation. Please note, minimum 25% of directors (1 out of 4) must be either Canadian citizen or Permanent Resident.

Anybody including an employee can be an officer to the corporation. It's not as important role as of director. Any designation is fine, mostly people choose CEO or President. It's more important for a big corporation. It's changeable later.

Absolutely yes. The same person can be incorporator, director, officer and shareholder. There is no restriction on it.

Foreigners can be Incorporator, director, officer or shareholder. The only restriction is minimum 25% of the director(s) must be Canadian citizen or permanent resident.

This is just initial set up. It's changeable later when company becomes big. Most people use $1 as initial price.

These are weaker than class A. Most people don't issue it. Some people issue in case they are selling some of their shares to others.

If you are the only shareholder, any number is okay, 100% owned by you. Most people put 1. It's changeable later. If more than one shareholder, put proportionately.

Total share is calculated by adding up each shareholder's share number. Example: your share is 60, your spouse's share is 40. Then total shares = 60 + 40 = 100. In this case, you hold 60% and spouse holds 40%. If more than one shareholder and you want to assign in percentage, make total share number as 100.

Yes, share price and share number can be changed any time. Now you are setting up just initial price, any number is okay since you don't know how company will perform.