Personal Real Estate Corporation (PREC) is a type of corporation that is specifically designed for licensed real estate professionals to conduct their business through. It allows real estate agents to benefit from certain tax advantages and limited liability protection
Real Estate Council of Ontario (RECO) allows real estate agents to form a PREC provided they meet certain requirements. These requirements include being registered and in good standing with RECO , having a valid real estate license, and incorporating the PREC under the Ontario Business Corporations Act.
As of October 1, 2020, real estate agents in Ontario are allowed to form Personal Real Estate Corporations PREC is a complex process that requires the assistance of a lawyer or accountant who is familiar with the rules and regulations governing these types of corporations. RegiCorp has in-house corporate counsel and accountants to incorporate your PREC timely and accurately.

RegiCorp Service fees(Required)

$ 99.00 CAD

What will be the corporation's name?(Required)

Instructions of Naming Ontario PREC

The name of your Personal Real Estate Corporation must be registered as either your Legal Name, followed by “Personal Real Estate Corporation”, or your Licensee Name, followed by “Personal Real Estate Corporation”. For example, if John Doe started his own PREC, then it must be named “John Doe Personal Real Estate Corporation”.

Legal Suffix

Do you want RegiCorp to obtain an Ontario NUANS® report for your corporate name?

Yes: Pre-Search, Reserve & Proceed $49

No: I have NUANS. Reserve & Proceed it $35

No: NUANS already done with RegiCorp $00

Upload a valid Ontario NUANS report

Accepted file types: pdf, docs, Max. file size: 15 MB.

How fast do you need your incorporation to be filed?

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Major activities of this corporation (briefly)

Registered Office Address

A physical address is required to Register Business in your Selected Province. Where the government will send documents. If you do not have a physical address, you can use our Registered Address Service that includes mail receiving and forwarding. Please note that PO Box is not accepted by the Government.

Do You Want a Registered Office Address Service?

Corporation's Address

Street Address Suite/Unit City Province Postal Code

Registered Office Address and Mail Scanning Service

For 1 Year 599

For 2 Years $1099

To register a corporation in this province, a local provincial physical address is required where the government will send documents. If you do not have a physical address in this province, our agency provides address and mail scanning service.

With RegiCorp ONTARIO Personal Real Estate Corporation can be Registered in 1 business Hour!

As of October 1, 2020, we had completed hundreds of PREC. Our in-house corporate specialists, legal counsel, and accountant will review your corporation before submitting it to the government. Thus way RegiCorp saves your time & money.
Personal Real Estate Corporation Registration Now easy with RegiCorp. You need just 10 minutes to fill up our customer friendly form and submit. If you need any assistant to fill up this form you may call, email or chat with us.

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Incorporation Package(Required)

Incorporation Package

Incorporating a professional corporation has never been this much easy. This form is created in a very simple and step by step method. Whether you are an engineer or medical doctor or CPA or lawyer, you can set up a professional corporation correctly here. You have option to upload your own prepared article or our legal team may prepare the article as per guidelines of your regulatory body.

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Select Your Professional Governing Body

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Select Your Professional Governing Body(dami)

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Regulatory body name

Falls under Regulated Health Profession Act: audiologists, chiropodists including podiatrists, chiropractors, dental hygienists, dental surgeons, dental technologists, denturists, dieticians, massage therapists, medical laboratory technologists, medical radiation technologists, midwives, nurses, occupational therapists, opticians, optometrists, pharmacists, physicians and surgeons, physiotherapists, psychologists, speech language pathologists, and respiratory therapists.

Please note that the articles of incorporation of a professional corporation must be prepared by an eligible lawyer in accordance with the corporation act and guidelines of the governing body. If you provide your own article, we are not responsible for any error, omission, or refusal by your governing body.

Government Fees(Required)

$ 300.00 CAD

Electronic Filing Fee(Required)

$ 60.00 CAD

Articles of Personal Real Estate Corporation(Required)

$ 125.00 CAD

Director Information

The Real estate salesperson (Agent) who holds the PREC license is the sole director of personal real estate corporation

The directors are responsible for the overall management of the company and make all important decisions and carry out certain responsibilities. Each director has equal rights and can be required to be present when opening a bank account.

Director Details

First name

Middle name (if any)

Last name

Phone

Canadian residency status

Citizen

None

Same as corporation's address

Complete address

Street Address Suite/Unit City Province Postal Code

Incorporator(s) Information

The incorporator, typically the director(s), is the Legal entity or individual who initiates the process of incorporating a company. It is important to note that if you are making a request on behalf of a client, their information should be provided instead of your own.

Add the Incorporator(s)

First Incorporator Details

Company Name

Contact person name

Name

First name Middle name (Optional) Last name

Complete address

Same as corporation's address

Address

Street Address Suite/Unit City Province Postal Code

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Add Additional Incorporator (Optional)

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Fifth Additional Incorporator

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Choose the type of incorporator

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Company Name

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Name

First name Middle name (Optional) Last name

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Complete Address

Same as corporation's address

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Address

Street Address Suite/Unit City Province Postal Code

Note: If you want to add more than 5 incorporators, you may need to place a customized order. For now, you can place order with these five incorporators and afterwards, give us a call to convert it into a customized order.

Articles of Incorporation (Corporation's Share Structure)

The Articles of Incorporation is a legal document that establishes a corporation as a separate legal entity from its owners. It looks like a constitution of Corporation. It typically includes information such as the corporation's name, registered office address, number of shares authorized, restrictions on share transfers, and other key details about the business.

Articles of Incorporation (Share Structure)

Professional Bylaws and Minute Book

Bylaws are a set of rules and regulations that govern the internal management of a corporation. Bylaws typically cover topics such as the election of directors, the duties and powers of officers, the conduct of meetings, and other internal governance matters. A Minute book is a collection of legal documents that are kept by a corporation to document its corporate activities and decisions. It typically includes the Articles of Incorporation, bylaws, board and shareholder meeting minutes, resolutions, and other important documents.

Do you want RegiCorp Prepare Bylaws & Minutebook for your Corporation?

Why Minute Book Matters?

A Minute book is a corporate legal document prepared by our legal and accounting team. As per corporation act, a Minute book is MANDATORY. Minute book consists of by laws, share structure & other legal sections. It's REQUIRED to open bank account. Without it, a corporation is not complete. A Minute book must be presented when corporation is audited. The next page will skip if you do not choose Minute Book. We left here as optional because many law firms incorporate with us who prepare their own Minute Book.

Officer's Information

As per PREC rule like Director, The Real estate salesperson (Agent) who holds the PREC license is the sole officer of personal real estate corporation

Add officer

Title of this Officer

President

CEO

Other

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Add Additional officer (Optional)

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Fifth Additional Officer

Name

First name Middle name (Optional) Last name

Title of this Officer (An officer can have multiple titles)

President

CEO

Treasurer

Secretary

Other

Note: If you require more than five officers, please contact us. However, for now with up to five officers, you can proceed with your order, and later contact us to modify your order as needed. And send rest of information: info@regiCorp.ca

Shareholder Information

The Real estate salesperson (Agent) owning the PREC license must be the sole voting shareholder

Initial price for Share Class A Voting Common share

Most of the corporations set an initial share price $1.00 per share.

Will you initially be issuing Share Class B Non-Voting Common shares?

Yes

Click here about Non-Voting share

The Real estate agent must be the only shareholder with voting shares, family members are allowed to own non-voting shares in the Personal Real Estate Corporation.

Initial price for Share Class B Non-Voting Common share

Most of the corporations set an initial share price $1.00 per share.

Number of Non-Voting Shareholder

1st Shareholder (Share Class B-Non-Voting)

Name of 1st Shareholder Class B-Non-Voting

First name Middle name (Optional) Last name

First Shareholder: Full Address

1st Shareholder: Number of Share

2nd Shareholder (Share Class B-Non-Voting)

Name of 2nd shareholder

First name Middle name (Optional) Last name

2nd Shareholder: Full Address

2nd Shareholder: Number of Share

3rd Shareholder (Share Class B-Non-Voting)

Name of 3rd shareholder

First name Middle name (Optional) Last name

3rd Shareholder: Full Address

Third Shareholder: Number of Share

Mandatory Filing after Registration a Corporation

CRA Business Number (BN)(Required)

Corporate Tax ID(Required)

Ontario Initial Return(Required)

WSIB & Other Accounts Registration

HST Account Set Up

Payroll Account Set Up

Import Export Account

WSIB: Workers' Safety & Injury Board

Corporate Kits & Supplies

Corporate Kits and Supplies refer to a set of physical tools and resources that are used to establish and maintain the legal and administrative records of a corporation. These kits and supplies typically include Corporate seal & Stamp, Share certificates, Minute book, Bylaws and corporate forms. For new businesses these items needed to establish and maintain accurate and compliant corporate records as well as for legal compliance

Do you want Share Certificate?

Share style

Unit Price

Paper Type

Synthetic

Do you want share certificate folder ?

Do you want One sided share certificate folder ?

Unit Price One Sided Folder

Do you want Both sided share certificate folder ?

Unit Price Both Sided Folder

Corporate Seal & Self-Inking Stamp

Corporate Seal

Self-Inking Stamps

Do you want seal wafer adhesive for your seal?

Add Wafer