Incorporate your Practice

incorporate your practice

Naturopaths will soon be able to set up a Professional Corporation. Need help doing this? Wondering if it’s right for you? We’re here to help! Contact us for a Complimentary Consultation

Once the new Naturopathy Act, comes into effect in Ontario, Naturopaths will be able to incorporate their practice as a Professional Corporation. This can have tax advantages for your clinic. If you’re already operating your clinic as a corporation, you may also have to convert into a Naturopathic Professional Corporation.

What is a professional corporation?

What is it?

A professional corporation is similar to a normal business corporation, it is considered a distinct entity separate from the individuals who own and run it.

What can it do?

Unlike a normal corporation, a naturopathic professional corporation can only engage in the practice of naturopathy, and activities that are related or ancillary to naturopathy. This means that it cannot practice other professions, such as massage or chiropractic therapy.

Who can own it?

All the shares of a naturopathic professional corporation must be owned by naturopaths. Any officers or directors must be shareholders, which means they must be naturopaths as well.

What is my personal responsibility for its activities?

Shareholders of a naturopathic professional corporation remain responsible for its activities. So you are required to uphold professional standards, and you retain liability for professional liability claims made against the corporation for your actions.

How can ND Business Solutions help?

Discuss the advantages

Speak with one of our experienced advisors about the business and tax advantages of forming a professional corporation.

Learn if its right for you

Help determine whether it makes sense for you to incorporate your clinic at this time, or whether you have to change your corporate structure.

Walk you through the process

If you determine this is the right choice for you, our advisors can help you through the many steps to register your professional corporation, including obtaining your Articles of Incorporation from the government and your Certificate of Authorization from the College of Naturopaths.

ND Business Solutions pairs Naturopathic Doctors with expert business and legal advisers to take your practice to the next level.

Contact us for a free consultation

Enter your contact information for a complimentary consultation from one of our experts with relevant experience. Please note that ND Business Solutions cannot provide professional legal advice through our complimentary consultations.