Businesses often evolve and expand their operations, and sometimes, that growth involves relocating to new provinces or territories. If you’re considering continuing your corporation from Nova Scotia to Ontario, Falcon Law PC is here to guide you through this strategic move and the legal process involved.
Understanding the Continuance Process
Continuance is the legal process of moving a corporation’s registration from one province or territory to another while preserving its corporate identity. When relocating your corporation from Nova Scotia to Ontario, there are several essential steps to take:
1. Review Corporate Documents
Begin by reviewing your corporation’s articles of incorporation and other relevant corporate documents. Ensure that they allow for continuance and any specific provisions related to relocation.
2. Confirm Eligibility
Verify that your corporation is eligible for continuance under the laws of both Nova Scotia and Ontario. Requirements may differ, so consult with legal experts familiar with corporate law in both provinces.
3. Draft a Continuance Application
Prepare a continuance application that includes essential information, such as the corporation’s name, jurisdiction, and reasons for the move. This application is typically submitted to the corporate registry in both provinces.
4. Shareholder Approval
In many cases, shareholder approval is required for continuance. Notify shareholders of the proposed move, hold a meeting or obtain written consent, and properly document the approval process.
5. Compliance with Tax Obligations
Ensure that your corporation is in good standing with both provincial and federal tax authorities. Address any outstanding tax obligations or assessments before proceeding with continuance.
6. Submit Application and Fees
Submit your continuance application, along with the required fees, to the corporate registry in Nova Scotia and Ontario. Be prepared to provide supporting documents and information as requested.
7. Certificate of Continuance
Upon approval, you will receive a certificate of continuance from the Ontario corporate registry, officially recognizing your corporation as an Ontario entity.
8. Update Corporate Records
Update your corporate records to reflect the change in jurisdiction. This includes amending articles of incorporation, changing the registered office address, and updating any necessary corporate filings.
The Role of Legal Professionals
Navigating the process of continuing a corporation from Nova Scotia to Ontario involves legal, tax, and regulatory considerations. Seeking legal assistance from professionals experienced in corporate law and business transitions is highly advisable.
Falcon Law PC specializes in providing legal support to businesses in transition. We can help you understand the legal requirements, ensure compliance, and guide you through the entire continuance process.
For more information and personalized assistance with continuing your corporation to Ontario, contact Falcon Law PC at 1-877-892-7778 or email us at info@falconlawyers.ca. Our dedicated legal professionals are here to ensure a seamless transition and help your corporation thrive in its new Ontario home.
