Foreign investors with companies in Canada can make various changes to the business when its direction is not the right one. However, it is also their right to decide to dissolve the company if they no longer want to do business in Canada.
In order to close down a company, the Articles of Dissolution must be prepared and filed with the Canadian Trade Register. Below, our company formation agents in Canada explain the procedure of dissolving a business and how the Articles of Dissolution are drafted. We can assist local and foreign investors who need assistance in preparing the Articles of Dissolution of Canadian companies.
The procedure of dissolving a Canadian company implies different procedures, depending on the situation of the company and on whether the company has shareholders and no properties, or the company has no shareholders as a consequence of having no shares issued.
No matter the situation, the Articles of Dissolution must be drafted and filed for approval with the Trade Register once the decision to shut down the business is made.
Our local consultants can help investors draft various essential documents for a company, among which Articles of Amendments and Dissolution.
Once the decision of dissolving a Canadian company has been made, a special resolution must be passed. In case the company has shareholders, the stockholders will pass this resolution during an extraordinary meeting. Where the company has shareholders with more than one class of shares, the shareholders holding each type of class must pass such a resolution. Where the company has no shareholders, the directors will pass the resolution. Then, the Articles of Dissolution must be prepared.
This country is one of the most prolific economies in the world, which is why our agents can also help you in starting a business in Canada, not only dissolving it.
Once the Articles of Dissolution of the Canadian company are prepared, the following steps need to be completed in order to dissolve the business:
The Articles of Dissolution or Form 4017 must be filed no matter the type of dissolution a Canadian company is undergoing.
Considering the dissolution of a company is subject to a complex process, our company registration advisors in Canada can help during this procedure.
The Articles of Dissolution of a Canadiancompany must contain specific information, among which:
The following situations can be encountered when filing the Articles of Dissolution of a company in Canada:
Our Canadian company formation advisors can guide you through the company liquidation and dissolution procedures depending on the situations above.
Those who want to dissolve Canadian companies have several requirements they must comply with:
If you need help with company dissolution in Canada, please contact us.