Physiotherapists, like all other regulated health professionals, have the option of incorporating their practice as a professional corporation. They are not required to do this.
If you require legal and financial advice about incorporation, you should contact a lawyer and an accountant.
The College cannot give legal or business advice to members. The advantages and disadvantages of practicing through a professional corporation will vary depending on your particular circumstances.
There are a number of steps to complete before the College can issue a Certificate of Authorization for a Professional Corporation. See the steps below.
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.