Optometrists licensed to practice in Ontario by the College of Optometrists of Ontario are permitted to incorporate their practice as an Optometry Professional Corporation (OPC). The major benefit of incorporating as an OPC is the opportunity, under the right conditions, to reduce your tax burden.
When we meet for the first time, one of the first things I’ll ask you is what you would like to name your OPC. The rules are strict – the OPC’s name must include your surname as it appears on the College’s register of members, as well as the words “Optometry Professional Corporation“, and must generally abide by the rules set in the Business Corporations Act of Ontario.
Next, we’ll go into a bit more detail with respect to the corporate structure of your OPC. As per the Business Corporations Act, the following restrictions will apply with respect to ownership of the corporation:
After I get all of the information I need about you and your practice, I will incorporate your practice in compliance with the rules set by the College of Optometrists of Ontario, and the Government of Ontario through the Business Corporations Act. Then, I’ll apply to the College of Optometrists of Ontario on your behalf for a Certificate of Authorization, allowing you to practice your profession through the newly minted corporation.
While it will only take me two to three business days to incorporate your practice and apply for a certificate, there is generally a waiting period of a few weeks to receive the Certificate of Authorization from the College of Optometrists of Ontario.
Incorporating your Optometry practice doesn’t have to be expensive and it doesn’t need to take up a lot of your time. That’s what I’m here for. Click the contact button below to set up your Optometry Incorporation consultation today.
This article does not constitute legal or other professional advice or an opinion of any kind.