Sunday, 15 September 2013

British Columbia Companies - Qualifications for Directors

BC is very lenient with respect to the qualifications for acting as a director of a BC company.  None of the directors need to be resident in Canada.  However, there are certain restrictions with respect to acting as a director in BC that should be considered before you agree to do so.


Canadian Federal Companies - Director Residency Requirements

When you decide to incorporate a Canadian federal company, you will be expected to follow the director residency requirements and have at least 25% of the directors qualify as "resident Canadians" pursuant to the Canada Business Corporations Act.  The definition of resident Canadian provides that the individual must be legally resident in Canada.  Therefore a Canadian who is not resident in Canada would not be considered a resident Canadian.  



Ontario Companies - Resolutions for Directors | Resolutions for Shareholders | Special Resolutions

The directors and officers of Ontario companies approve matters relating to the corporation's day to day business by passing resolutions either at meetings or by all directors or shareholders, as the case may be, signing a written resolution.  Depending on the type of approval there can be a different form of resolution. The Ontario Business Corporations Act outlines the procedure for approving the various types of matters.


Subsequent to incorporating an Ontario company is is important that the directors and shareholders have a full understanding of the requirements of the Business Corporation Act (Ontario).

Foreign Registration in Toronto, Ontario, Canada

Toronto, Ontario is the largest city in Canada.  For that reason many foreign companies wish to register in Ontario so they can take advantage of the business opportunities.  There is a certain procedure for registering a Foreign Business in Ontario including having an office in Ontario and agent for service.  These requirements can be satisfied with the assistance of a good search house.  

How to Establish a Foreign Business in Canada

Ontario Companies - Director Qualifications

Restrictions on Acting as a Director of an Ontario Company
There are certain restrictions for those who wish to act as directors of an Ontario company.  When incorporating an Ontario company you need to consider these restrictions.  Refer to the above link for more information about what the qualifications are to act as a director of an Ontario company and also for the restrictions that may prevent you from acting as a director.