Yes. Corporate acquisitions of indebted entities are lawful in Canada. Our methods are designed for compliance and durability.
How fast can this happen?
Most files close in 2–4 weeks, subject to our backlog and how quickly documents are provided. Express Service is available if the CRA is being particularly aggressive — fastest close was 72 hours.
What if some debts are personally guaranteed?
Standard acquisition excludes PG debt. We can attempt PG removal ($2,500 per attempt), historically successful about 50% of the time. If released, our standard fee applies to the amount released.
Do I keep my existing brand?
Yes. We set up a new corporation and preserve your trade name so you continue commerce seamlessly.
Will I need an accountant after?
Typically no for the new entity's routine operations — a bookkeeper is usually sufficient. Special cases may vary.
What types of debt can you assume?
Non-personally-guaranteed corporate debt including CRA debt, payroll arrears, GST/HST obligations, corporate tax, and other corporate liabilities. There is no upper limit.
What documentation do I need?
Articles of Incorporation, Federal Business Number, GST/PST/HST Number, Shareholder List, and other corporate registry documents. We walk you through exactly what's needed during Step 3.
