blogResidency of Directors – Incorporating in Canada

July 30, 20130

Most provinces and territories of Canada require a certain percentage of the directors of the corporation to be residents of Canada.  However, there are a few exceptions.  Foreign companies and others outside of Canada looking to incorporate in Canada should be aware of these exceptions when determining where in Canada to incorporate.   The following is a summary of the Canadian residency requirements for directors:

  • Federal: at least 25% must be residents of Canada
  • Alberta: at least 25% must be residents of Canada
  • British Columbia: does NOT require that directors be residents of Canada
  • Manitoba: at least 25% must be residents of Canada; if corporation has three or fewer directors, one of them must be a resident of Canada
  • New Brunswick: does NOT require that directors be residents of Canada
  • Newfoundland and Labrador: at least 25% of the directors of a corporation must be residents of Canada; but this doesn’t apply where corporation earns no income in Canada
  • Nova Scotia: does NOT require that directors be residents of Canada
  • Nunavut: does NOT require that directors be residents of Canada
  • Northwest Territory: does NOT require that directors be residents of Canada
  • Ontario: at least 25% must be residents of Canada; where a corporation has less than four directors, at least one director still must be a resident Canadian.
  • Prince Edward Island: does NOT require that directors be residents of Canada
  • Quebec: does NOT require that directors be residents of Canada
  • Saskatchewan: at least 25% must be residents of Canada; where a corporation has less htan four directors, at least one director must be a resident Canadian.
  • Yukon: does NOT require that directors be residents of Canada

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload CAPTCHA.