Dissolve a Business

We need to know, the business you want to dissolve is which type. Look at your business registration documents. If it shows, certificate and article, it means a corporation. If it's not a corporation, the registration document will show either a sole proprietorship or trade name and master business license or partnership. If you have difficulty to understand it, please email this document to us, we can see and find out.

If you decide to dissolve a corporation yourself, it’s called a voluntary dissolution. On the other hand, if a business is dissolved because of an order from the court or the Ministry of Government and Consumer Services, it's called involuntary dissolution. At our agency, we only offer service for voluntary dissolution. For involuntary dissolution, you may wish to talk to a lawyer to do the job correctly.

Dissolving a business involves in a multi-step process depending on the type of business you want to dissolve. Price will be shown in next page, based on your selection.

The dissolution process begins with the corporation’s members/shareholders who must approve the dissolution by way of a special resolution. If the corporation does not have members/shareholders, then the directors can pass a resolution to authorize its dissolution.

The dissolution process then proceeds in one of two ways:If the corporation has no property or liabilities, it can immediately apply to Corporations Canada for a certificate of dissolution. If the corporation owns property and has liabilities, it must first be liquidated, which means its liabilities must all be paid and its remaining assets be distributed in accordance with its articles of incorporation and the law.

During the liquidation process that is essential to the dissolution of the corporation, the distribution of property by certain nonprofit corporations is subject to important restrictions. Namely, corporations that qualify as registered charities and soliciting corporations, for example, those that are publicly funded, cannot distribute their assets to their members. They must distribute them only to qualified donees, as that term is defined in the Income Tax Act.

The Corporation Profile Report displays current information on the public record for the subject corporation. All active directors and officers are listed. Some historical information such as amalgamating corporations (where the subject corporation is an amalgamation) and name history are included in the report.

If the corporation has any shareholder or member, it is assumed that director has obtained their approval. We do not need any document to confirm it.