The directors shall manage or supervise the management of the business and affairs of the corporation. The board of directors of a corporation must consist of at least one individual, and in the case of an offering corporation, not fewer than three individuals (S.115 (2)).
The Articles of Incorporation may set out a fixed number of directors or a minimum and maximum number of directors (floating board), but each director must be at least 18 years of age (S.118 (1)).
At least 25 per cent of the directors must be resident Canadians (if 25 per cent of the directors is not a whole number round up to the nearest whole number). Where a corporation has less than four directors, at least one must be a resident Canadian (S. 118(3))
We Offer only one full Ontario incorporation package for only $99.99 and this package includes:
- Receipt and review of your incorporation information.
- If you choose to incorporated a named company, we conduct a Provincial or NUANS pre screen search of your proposed corporate name and advise you if there are any difficulties with your name.
- Preparation and filing of Certificate of Incorporation.
- Preparation of Organizational Minutes – covering the election of directors and officers, issuing shares, the form of share certificates and fixing the number of directors.
- Preparation of Corporate Bylaws which sets out the organization of the corporation, including the powers and election of directors and officers, filling vacancies, holding meetings of shareholders and directors, required notice periods, setting the fiscal year end and the execution of documents.
- Preparation of the Register of directors, the Register of Shareholders, the Register of Officers and the Stock Transfer Register.
- Issuance of share certificates per your instructions
- Blank share certificates
- Shareholder ledgers for each shareholder
- Provincial-specific startup checklist