As regulated professionals, audiologists and speech-language pathologists have the option of incorporating their practice as a professional corporation.
If you require legal and/or financial advice regarding incorporation, you must contact a lawyer and/or an accountant.
Benefits of professional corporations are:
- Access to external investment funding
- Advantages of corporate tax rules
- Corporate status
Key features of professional corporations are:
- Professional liability is not limited by incorporation.
- The name of the professional corporation must include the words “Professional Corporation” or “Société Professionelle” and cannot be a number name.
- The shareholders of a professional corporation must be members of the College and must be from the same profession.
- The professional corporation may not carry on a business other than the practice of the profession.
If you decide to incorporate, consult CASLPO and the Ministry of Consumer Services regarding incorporation requirements. To become a “professional corporation”, you may apply to obtain a Certificate of Authorization from CASLPO.
Certificate of Authorization Package Downloads: