Services for Professionals
Services for Professional Corporations
On November 1, 2001 Bill 152, which contained amendments to the Acts of several professions, was proclaimed into law in Ontario allowing those regulated professionals to incorporate their practices. The professions included Chartered Accountants, Certified General Accountants, Health & Dental Professionals, Social and Social Service Workers, and Veterinarians. Prior to this legislation, these professionals were restricted from incorporating their practice, except if permitted within the law regulating their profession.
Requirements of the professional governing bodies for establishing professional corporations are in many cases unique, but retain some similarities in terms of:
- Incorporation and maintenance of corporate records
- The professional governing bodies remain responsible for the certification and licencing procedures for the profession
- A professional corporation must include the words “Professional Corporation” (or French equivalent) within the name
- Officers and Directors are required to be shareholders
- Business activities are restricted to the practice / service of the profession
Some of the services that ESC offers to Professional Corporations to enable incorporation, manage license renewal requirements, and ensure corporate document maintenance practices are in compliance with legislation, can be found outlined below.
- Register a Professional Corporation
- Certificate of Status Offering for Professional Corporations’ Annual Renewal
- Order Corporate Supplies
Register a Professional Corporation
In 2001 relevant legislation and regulations were passed enabling regulated professionals to incorporate (register as a Professional Corporation).
Following this proclamation, members of the following professions became able to consider Incorporating as a Professional Corporation:
- Chartered Accountants, Certified General Accounts, and Lawyers
- Health, Medical and Dental Professionals under the Regulated Health Professionals Act
- Social and Social Service Workers
Order a Certificate of Status
Both Health and Dental Professional are required to file a renewal application on a regular basis. This application may need to be accompanied by a Corporate Profile Report proving that the Professional Corporation filing for renewal is active and in a good standing. If a new Certificate of Status needs to be ordered for every renewal period, it may be costly. That is why we at ESC Corporate Services have designed a subscription program at discounted service fees to ensure that your Professional Corporation’s bottom line is not affected by this overhead.
We offer a subscription service which will save you money each year as you order your Certificate of Status for your annual renewal.