What is Continuance of a Corporation?
When you are thinking of moving your corporation to a new province or territory in Canada, there is a process that is called Continuance or moving a corporation. This process is also known as Jurisdiction jurisdiction change or moving out of a corporation.
This allows your existing corporation to operate under the laws of a new jurisdiction while retaining its identity.
Continuance of a Corporation is not the same as registering extra-provincially. Extra-provincial registration allows you to conduct business in another province while maintaining your original incorporation. Continuance of a corporation involves a full shift of your legal jurisdiction.
File Articles of Continuance into Ontario
Differences between Continuance and Extra-Provincial Registration
May be you are thinking, isn’t there something called extra-provincial registration?
The answer is yes; there is! But it’s not quite the same. Extra-provincial registration lets you do business in another province while maintaining your original incorporation.
On the other hand, the continuation of a corporation involves a complete shift of your legal home base.
Register an Extra Provincial in Ontario
Continuance Process Requirements
The specific steps involved will vary depending on whether you’re moving from a federal or provincial incorporation:
Federal Corporation to Provincial:
You can shift or change your Federal corporation to any Province or territories in Canada. The following documents are needed to do this:
- You’ll need a “Letter of Satisfaction” from Corporations Canada, confirming no outstanding federal obligations.
- You have to file all Annual Returns
The new province’s corporate registry will have its own continuance application process.
Provincial (Ontario) Corporation to Another Province:
This process is also like the federal process, you’ll need approval from the original province’s corporate registry. The following Documents are needed from Ontario Business Registry:
- Application for Authorization to Continue in another Jurisdiction. The Authorization to Continue out is not valid without the Application for Authorization to Continue in another Jurisdiction.
- Authorization to Continue in another Jurisdiction. This document certify that your Ontario corporation is authorized to apply to another jurisdiction to continue out of the Business Corporations Act
The new province’s registry will also have its own continuance requirements. For an example: if you want to move your Ontario Corporation to Alberta then you the above documents from Ontario Business Registry. And in Alberta, Your need:
- A Valid Alberta Nuans Reservation Report.
- Ontario Corporation’s Business Number
- Ontario Corporation’s Articles of Incorporation
- Ontario Corporation’s Certificate of Incorporation
- Registered Corporation Address in Alberta
- Agent of Alberta Corporation
- Ontario Application for Authorization to Continue
- Authorization to Continue in another Jurisdiction.
Post-Continuance: New Jurisdiction, New Realities
Once your continuance is approved, congratulations! Your corporation is now officially a citizen of its new provincial home. Now, you may need to update business licenses, permits, and tax registrations relevant to your new location and Jurisdictions requirements.
- Business Licenses and Permits: Review and update any business licenses and permits to reflect your new location.
Tax Registrations: Don’t forget about taxes! You might need to adjust your tax registrations based on the new provincial regulations
File Articles of Continuance with Business Ontario Corporate service Inc.
Business Ontario Corporate Services can help you change your corporation’s jurisdiction. With 10 years experience in this industry now we are a Leading Corporate Agency in Ontario and Canada. Our corporate expert’s team can assist in continuing your corporation from one jurisdiction to another. Our expertise team member ensure that your continuance process must be easier, smooth transition, no disruptions. Thus ways, you can focus on your business growth in your new market in new jurisdiction.
How our Team of experts can make your corporation’s continuation smooth are given below:
Depth Knowledge in Business Formation: Our team has been working in this industry for more than 10 years. Now, our experts are possessed in-depth knowledge of all Canadian jurisdictions/ territories and federal Corporations related all activities including continuing of corporations across Canada. They will ensure your shifting process efficiently, complying with all necessary regulations in both your current and moving governmental rules.
Smooth Registration Process: Our team will manage the entire continuation process, from initial consultations to finalization. We Collect all necessary documents from current home jurisdiction and new jurisdiction on behalf of you.
Experienced Team: We are operating over 10 years in corporate formation and development industry. Our team has been handling all kinds of business transition (Formation, revive, dissolution etc.). Through us hundreds of corporations change their jurisdiction either by continuance or extra-provincial registration.
Lessen Disruption: Business Ontario Corporate Services first and foremost task is to relief you by minimizing disruptions to your business operations. Our straight approach ensures a smooth transition, allowing you to continue serving your clients with minimal downtime.
Focus on your Business Growth: By handling paper works involved in continuation, Business Ontario Corporate Services frees you to focus on what matters most– growing your business in a new market. You can invest your energy into establishing your brand, building relationships, and achieving your expansion goals.
Contact us today to start your corporation’s seamless transition to new opportunities.
