Dissolve a Business Corporation
Is it time to close up shop ?
What is dissolution
Dissolution is the legal termination of a corporation. It is the end of its existence as a legal entity.
The process to dissolve a business corporation results in the emission of a
Certificate of Dissolution by the registry.
How it works
1
Tell us about your business
2
Sign the resolutions and pay the fees
In order to process the dissolution request we will need you to sign certain documents that we will file at the registry.
3
Final Certificate
Once the filing is complete, you will receive a Certificate of Dissolution with an effective date.
Steps to dissolved a Federal Corporation or Provincial Corporation are fairly similar. These may include the filing of:
- Intent to liquidate and dissolve a corporation
- Declaration of dissolution of a corporation
- Filing of a resolution of the shareholders or the board of directors, with attestation
- Notice of liquidation and closure of liquidation (For Quebec Partnerships)
If the corporation distributed its property and has no liabilities, shareholders can approve the dissolution by special resolution.
If the corporation does not have shareholders, the directors can approve the dissolution by resolution.
Once a Business Corporation is dissolved, it becomes inactive.
Yes, it is possible revive an inactive corporation in consideration of certain obligations:
- Filing of revival application
- Filing of annual returns
- Updating obligations of the corporation
- Payment of revival and registration fees
- Request return of property from the crown
When can you dissolve a corporation
- All liabilities have been paid
- All tax forms have been filed
- All remaining property and assets have be distributed
- Corporation is in good standing (no bankruptcy)
- You have the authority to consent to the dissolution