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  • Sea to Sky Law

ARE CORPORATIONS IMMORTAL?



man working on paperwork

Unlike all humans, corporations can in theory live forever - so long as you comply with all regulatory requirements. For example, if you do not file the required annual report every year then the Corporate Registry can "strike" your corporation, like stopping its heart. You can resurrect your corporation by applying to the court for a "restoration". However, any court application requires a significant amount of well-prepared documents. Worse, the legal costs of a restoration application to the Supreme Court could total 100 times what the corporate registry filing fee was for one annual report. For example, just the court filing fees could be 10 times the corporate filing fee. Remember to update your Minute Book!

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