Incorporating a Professional Corporation
Certain professionals such as accountants, architects, physicians, and dentists may provide services through a corporation. While such corporation is formed in the say way as a business corporation, the governing body of each profession has its own set of rules and/or bylaws setting out the requirements in the formation of the professional corporation.
The first step in incorporating a professional corporation is the approval of the name. Other than obtaining approval from the Registrar of Companies of BC, approval is also required from the governing body.
The next step is to draft the Notice of Articles and Articles of the professional corporation to ensure they comply with the requirements of the governing body and legislation. Typically, the Articles contain provisions restricting the legal and beneficial ownership of voting shares, provisions restricting the beneficial ownership of non-voting shares, provisions restricting any person from acting as a director of the corporation other than a member of the governing body, and provisions restricting any voting shareholder from vesting voting rights to another person who is not a member of the governing body.
Once the corporation is incorporated, the governing body typically requires a certificate from a lawyer confirming that the requirements of the governing body have been met before they will issue a permit allowing the corporation to provide professional service.
How we can help
We are familiar with the requirements of various professional governing bodies and we can assist you in the incorporation of your professional corporation. We take care of the legal matters so that you can focus on providing professional service.