We Offer In-person as well as Remote / Virtual Signing for Business Transactions
CORPORATE/ COMMERCIAL LAW Business Lawyers
Incorporation of Business
Our Business Lawyers attend to all incorporation of Ontario and Federal Corporations. Our fixed costs include all initial resolutions, digital or physical minute book and share certificates. Drop by our corporate law office in North York, Toronto
Personal Real Estate Corporations (PRECs)
Personal Real Estate Corporations (PREC) are finally allowed in Ontario. Our business lawyers are able to make the process simple. We handle it all from creating multiple classes of shares, initial resolutions, issuing shares, notifying RECO, and preparing an agreement with your brokerage. Available Virtually or in our North York, Toronto corporate law office
Professional Corporations
Professional Corporations
Professional Corporations are an important consideration for all professional businesses. We help our client open their Medical Professional Corporation, Dentistry Professional Corporation and Professional Law Corporation. Our business lawyers are able to make the process simple and quick. We handle it all from creating multiple classes of shares, initial resolutions, issuing shares, and notice to the registrar. Available Virtually or in our North York, Toronto corporate law office
Professional Corporations
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Asset Purchase
Purchasing Assets of a Business in Ontario required strict due diligence to ensure assets are being purchased free and clear of any liens. Our business lawyers will prepare or review the asset purchase agreement, perform required searches and advise as to any liability. We are available virtually or in our North York, Toronto corporate law office.
Share Purchase
Purchasing Shares of a Business or Corporation in Ontario required strict due diligence to ensure that you are not assuming any liabilities and the corporation is valid and properly maintained. Our business lawyers will prepare or review the share purchase agreement, perform required title and off-title searches and advise as to any liability. We are available virtually or in our North York, Toronto corporate law office.
PERSONAL REAL ESTATE CORPORATIONS (PREC)
Additional Information
As of October 1, 2020, Personal Real Estate Corporations (PREC) are now permitted in Ontario. What this means is that now individual Ontario real estate agents will be able to incorporate their business and take advantage of the Corporate tax system. There are certain criteria required to be met in order for the Corporation to qualify as a PREC and our team will be able to assist you in setting up your corporation accordingly, preparing the required resolutions and issuing shares.
Criteria for Personal Real Estate Corporations (PREC)
- The corporation is incorporated or continued under the Business Corporations Act.
- All of the equity shares of the corporation are legally and beneficially owned, directly or indirectly, by the controlling shareholder.
- The sole director of the corporation is the controlling shareholders.
- The president, being the sole officer of the corporation, is the controlling shareholder.
- Each non-equity share of the corporation is,
- legally and beneficially owned, directly or indirectly, by the controlling shareholder,
- legally and beneficially owned, directly or indirectly, by a family member of the controlling shareholder, or
- owned legally by one or more individuals, as trustees, in trust for one or more children of the controlling shareholder who are minors, as beneficiaries.
- There is no written provision by agreement or otherwise or arrangement that restricts or transfers in whole or in part the powers of the sole director to manage or supervise the management of the business and affairs of the corporation.
In addition to the above criteria, RECO and your brokerage will require proper notice for the use of your PREC in your real estate trading and we will equip you with the required notices for a stress free experience.
Incorporate Today
To find out more information or to incorporate your Personal Real Estate Corporation, please feel free to contact us.