Incorporation For Engineers
BUILDING A SUSTAINABLE BUSINESS STARTS HERE
As an engineer, you know how vital it is to build on a solid foundation. By applying this same principle to your engineering business and choosing to incorporate, you’ll create a secure, sustainable, and professional business that’s both protected from liability and properly equipped for future growth.
The Benefits of Incorporation For Engineers
Incorporating your engineering practice creates a professional image that will help establish credibility and trust with potential clients. It can also provide liability protection, substantial tax savings, and makes it easier to secure financing from banks without having to personally guarantee loans.
FAQs
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Without incorporation, you may be unable to secure financing for your engineering business. Potential clients may also be hesitant to hire an engineering firm that isn’t incorporated, and you can be subject to personal liability.
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Before applying for incorporation, you must be registered with EGBC and in compliance with the Professional Governance Act of British Columbia. After obtaining consent from EGBC, legal counsel can help you determine the share structure and share issuances for your Company. Once the details of your corporation are approved by EGBC, your incorporation can be finalized.
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Generally, EGBC will approve name consents to finalize your incorporation within 30 days. Following this, the incorporation process can be completed in as little as 48 business hours.
Want to Incorporate Your Engineering Business?
When it’s time to incorporate your Canadian engineering business, Parr Business Law can help you navigate the incorporation process with confidence and clarity. Our lawyers have the specialized knowledge to provide you with reliable and candid legal advice so you can create the corporate structure and professional image your business needs to thrive. Schedule a consultation call with us today to learn more about incorporating as an engineer.