If you are a corporation incorporated outside of Ontario and are conducting business in Ontario, you may be wondering if you need to register your corporation in Ontario. The answer is yes, you will need to extra provincially register your corporation in Ontario if you are conducting business with a foreign corporation.
Extra provincial registration is the process of registering your corporation in a province or territory outside of your home province or territory where you are incorporated. This is necessary because each province and territory has its own set of laws and regulations regarding business activities.
In Ontario, the Extra-Provincial Corporations Act (EPCA) governs the registration of corporations from other provinces and territories. Under the EPCA, if a corporation carries on business in Ontario, it must be registered with the Ontario Ministry of Government and Consumer Services. The definition of “carrying on business” is broad and includes any activity that is conducted in the ordinary course of business and generates revenue.
Failure to register can lead to significant consequences, including fines, lawsuits, and the inability to enforce contracts or participate in legal proceedings in Ontario.
Therefore, it is important to consult with a Toronto corporate lawyer to determine whether your corporation needs to be extra-provincially registered in Ontario. A Toronto corporate lawyer can help you navigate the registration process and ensure that you comply with all the relevant laws and regulations. They can also help you understand the implications of registering in Ontario and help you make informed decisions about your business activities. If you have any questions, please contact our Toronto business lawyers at 1-877-892-7778 or email@example.com.