Incorporate your Real Estate Business with Us
Ross Rumbell Business Law:
A boutique business law practice serving companies in Toronto and across Ontario
Great news for real estate agents and brokers in Ontario: As of October 1, 2020, you can now incorporate as a personal real estate corporation (“PREC”). As a PREC, real estate agents and brokers will have the ability to operate in a similar fashion to doctors, lawyers, and dentists, taking advantage of business benefits including:
- liability protection (not including liabilities related to misconduct or negligence)
- tax deferral opportunities
- investment opportunities (using retained earnings taxed at a lower corporate rate)
- building up cash reserves for:
- lower income years
- leaves of absences
- retirement
- income splitting
Our PREC package includes:
- Incorporation of a personal real estate corporation (PREC)
- Organization of the PREC
- General By-law No. 1
- Election of directors
- Appointment of officers
- Issuance of shares
- Audit waiver (if desired)
- Government filings
- Electronic minute book
Cost:
$950 plus HST and Disbursements*
No delays. No waiting. Our lawyers get your real estate company incorporated fast… usually within just a few business days.
Electronic Minute Books
Stay current, compliant – and green – with our Electronic Minute Books
Say goodbye to bulky, three-ringed binders. We deliver digital minute books that allow you to efficiently manage all your PREC’s corporate documents. Simple to navigate and easy to update, your electronic minute book can be viewed via computer, tablet, or smart device.
