Corporate Buyer and FINTRAC (Ontario)

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Commercial Real Estate Agent with RE/MAX West Realty Inc., Brokerage (Toronto)

Corporate Buyer and FINTRAC

 

Question:

When a client is buying under a corporation, other than filling out the FINTRAC, what other paperwork do I get? Documents of incorporation?

Answer:

You need to ensure that the person signing on this deal has the authority to sign on this deal. This means that you will have to examine the Corporate books.

 

1)         Incorporation documents: will indicate the initial incorporators.

2)         Corporate By-law: will delegate signing authority, generally.

3)         Corporate Resolution: will appoint Officer on this deal alone.

 

You would need to check all three sources.  

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Rainmaker
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Toronto, ON

Industry Canada or the provincial / territorial corporations branch may also need to be consulted.  I have had situations where info per those authorities was not consistent with the most recent resolutions etc. available.

Jan 01, 2017 06:54 PM #1
Rainmaker
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Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Resolutions, for example, need not be filed.

Jan 02, 2017 08:14 AM #2
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Rainmaker
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Brian Madigan

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