Canada has just over 36 million people, most of whom speak English, are huge consumers of American goods, and even watch the same TV shows as their southern neighbors. Most consider the U.S. the country’s greatest ally. So with the new deal coming together, here are seven reasons to expand your small business into Canada. […]
7 reasons why you should consider doing business in Canada.
The success of small businesses is an essential part of Canada’s economic growth. At the CFS, our goal is to provide all the support we can. We work closely with small businesses to help them setting up their businesses, improve services, reduce paperwork, reduce the cost and time of corporate compliance by offering a fast […]
Organizing Your corporation: Mandate of the Directors and Vacancy on the Board of Directors
The directors may be elected for terms of up to three years. The length of the mandate of the directors can be set out in the by-laws. If no term is stated, directors hold office until the next meeting of shareholders. Directors need not all be elected at the same time or for the same […]
Organizing Your Corporation: Who Can Be a Director?
A director must be:at least 18 years old; of sound mind (i.e. not a person a court has determined to be of unsound mind); an individual (a corporation cannot be a director); and not in bankrupt status. Ordinarily, at least 25 percent of the directors of a corporation must be resident Canadians. However, if a […]
Organizing Your Corporation: Your Corporation’s Board of Directors
Your corporation must have at least one director. The number of directors is specified in youArticles of Incorporation. Shareholders elect directors at the shareholders’ meeting by amajority of votes. An individual may be the only shareholder, the only director and the only officer. Canada Corporate Minute Books. In order to keep your corporation in good […]
Keeping Your Corporation in Good Standing: Other requirements of the shareholders’ meeting
Quorum Unless a quorum of shareholders is present or represented at annual or special shareholders’ meetings, no business that is binding on the corporation can be conducted. A quorum is present at a meeting when the holders of a majority of the shares entitled to vote at the meeting are present in person or represented […]
Keeping Your Corporation in Good Standing: Location of the shareholders’ meeting
The annual meeting may be held in Canada at a place specified in the by-laws. Or, if the by-laws do not specify a location, directors may choose one. An annual meeting may be held outside Canada only in cases where the corporation’s articles permit it or if all voting shareholders agree. Also, where the corporation’s […]
Keeping Your Corporation in Good Standing: Calling a shareholders’ meeting
The directors must notify voting shareholders of the time and place of a shareholders’ meeting.They must do so no more than 60 days and no fewer than 21 days before the meeting date.For example, if the meeting is to be held on May 20, the notice of the meeting should be sent no earlier than […]
Keeping Your Corporation in Good Standing: agenda of an annual meetings
At minimum, the agenda of an annual meeting must include the following items: consideration of the financial statements; appointment of an auditor (or a resolution of all shareholders not to appoint an auditor); and election of directors. Often, the agenda includes an additional item, “any other business.” This portion of the meeting allows shareholders to […]
Keeping Your Corporation in Good Standing: Shareholders’ Meetings
The CBCA and Provincial Business Corporations Act, states that a corporation “… must hold a shareholders’ meeting on a date that is no later than 15 months after holding the last preceding annual meeting, but no later than six months after the end of its preceding financial year.” Alternatively, shareholders may pass a resolution in […]
