Introduction: Establishing a dental professional corporation (DPC) in Ontario offers numerous benefits for dentists, including liability protection and potential tax advantages. However, it is essential to understand the regulations surrounding share ownership in a DPC to ensure compliance with the law. In this blog post, we will explore who can own shares in a dental professional corporation in Ontario and provide valuable insights from Falcon Law PC, a trusted law firm specializing in dental practice law. For expert guidance on DPC ownership and legal matters, contact Falcon Law PC at 1-877-892-7778 or via email at info@falconlawyers.ca.
Understanding Share Ownership in a Dental Professional Corporation: In Ontario, the ownership of shares in a dental professional corporation is subject to specific regulations set forth by the Regulated Health Professions Act (RHPA) and the Ontario Business Corporations Act (OBCA). The legislation aims to ensure that only licensed dentists or other eligible dental professionals can own shares in a DPC.
Eligible Shareholders in a Dental Professional Corporation:
- Dentists: In accordance with the RHPA and the College of Dental Surgeons of Ontario (CDSO) regulations, licensed dentists in good standing with the CDSO can own shares in a DPC.
- Dental Hygienists: As of 2020, dental hygienists in Ontario are also eligible to own shares in a DPC, provided they meet certain requirements set by the College of Dental Hygienists of Ontario (CDHO).
- Denturists: Licensed denturists recognized by the Denturist Association of Ontario (DAO) are eligible to own shares in a DPC.
It’s important to note that the ownership of shares in a DPC is restricted to individuals who hold the appropriate professional licenses recognized by the respective regulatory bodies. Other individuals, such as family members or non-licensed professionals, generally cannot hold shares in a DPC.
Expert Assistance from Falcon Law PC: Navigating the legal requirements and complexities of establishing and operating a dental professional corporation can be challenging. Falcon Law PC specializes in dental practice law and provides comprehensive legal services to dentists and dental professionals. Their experienced team can assist you with:
- DPC Incorporation: Falcon Law PC can guide you through the process of incorporating a dental professional corporation, ensuring compliance with all legal and regulatory requirements.
- Shareholder Agreements: They can assist in drafting and reviewing shareholder agreements, outlining the rights and responsibilities of shareholders and establishing clear guidelines for share ownership in the DPC.
- Regulatory Compliance: Falcon Law PC can help you navigate the regulations set forth by the respective regulatory bodies, ensuring that your DPC remains in compliance with professional licensing and ownership requirements.
- Ongoing Legal Support: Their legal team is available to provide ongoing advice and support for any legal matters that may arise during the operation of your dental professional corporation.
Contact Falcon Law PC: For personalized legal assistance regarding ownership of shares in a dental professional corporation or any other dental practice-related matters, contact Falcon Law PC using the following information:
Phone: 1-877-892-7778 Email: info@falconlawyers.ca
Conclusion: Ownership of shares in a dental professional corporation in Ontario is limited to licensed dentists, dental hygienists, and denturists recognized by the respective regulatory bodies. Compliance with the regulations is crucial to ensure the legal operation of a dental professional corporation. Falcon Law PC specializes in dental practice law and can provide expert guidance and support for establishing and operating a dental professional corporation. Contact Falcon Law PC to obtain personalized legal advice tailored to your specific situation and ensure compliance with the regulatory requirements.
