A professional corporation is a corporation that provides the services of a member of a profession that is regulated by a governing professional body. Certain regulated professions are permitted to form professional corporations under their governing regulations. REALTORS® are regulated by the Real Estate Council of Ontario (“RECO”) and are permitted to form PRECs under TRESA.
A professional corporation allows a professional to benefit from some of the tax advantages available to traditional private corporations, while protecting the public by ensuring that the professional remains professionally regulated, disciplinable, and liable in relation to the professional services provided through the professional corporation.
FLEXIBILITY OF REMUNERATION