Professional Corporation Permit
The Act regulates who may own shares in a professional corporat ion. Only members may own voting shares and only spouses, children and parents of members (or corporations whose shares are owned by or trusts whose beneficiaries are all members, their spouses, children or parents) may own non - voting shares.
All director s of the professional corporation must be members of the SCPT.
The words “Professional Corporation” or t he abbreviation “Prof. Corp.” or “P.C.” must be included in the corporation’s name.
Professional corporations are incorporated under The Business Corp orations Act and must have a permit from the SCPT. All permits expire on December 31 of each year and must be renewed annually.
A professional corporation that holds a valid permit may carry on the business of providing physical therapy services in its co rporate name. The physical therapy services may only be provided by SCPT members
The SCPT office does not provide advice to members as to whether or not they should incorporate. This decision rests with the member, in consultation with the member’s accountant and legal counsel.
Permit on Initial Incorporation
- Click HERE for a corporation name approval
- Once the corporation name has been approved by SCPT and you have completed your Corporate Registry Application, login with your corporate username and password and fill out Part 2 and next upload the proposed Articles of Incorporation
- The Registrar reviews the application for compliance with the Act and bylaws and provides a permit if compliance is established
Annual Permit Renewal
- A renewal notification is sent out to all professional corporations on the SCPT corporate register in October of each year
- A renewal fee of $150 is due by December 15th in each year
Approval to Changes to Professional Corporations
SCPT Professional Corporations Bylaws 4(1) requires a professional corporation to notify the registrar of any proposed change of name or of any proposed changes to its corporate structure, ownership or directors.