Last updated on March 21st, 2019 at 06:11 am
This certificate is known by three different variations depending on the jurisdiction which it is ordered. Certificate of Status is the most commonly used name but both the Certificate of Good Standing and Certificate of Compliance are also named variations.
What is this certificate?
The certificate is typically a one page document for an existing corporation that provides whether a business is active as of the day of ordering the document.
When is it required?
There are a few instances where individuals request this certificate:
- Purchase or sale of a corporation
- Registering corporation into a different jurisdiction where the new jurisdiction requires a status from the home jurisdiction of the corporation
- Compliance with a professional governing body
- Financial institutions
How long does it take to receive?
The status for most jurisdictions in Canada is available on a same day basis and emailed to the ordering party.
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Laura Harvey is an entrepreneur herself as the owner of Ontario Business Central Inc. Her passion has always been about supporting the entrepreneurial spirit and advancement within Canada.
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