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Question |
Answer |
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1. |
Where do I obtain information and/or documents necessary to incorporate? |
By phoning the MDA office at (204) 988-5300 and requesting an incorporation package OR print an Incorporation Package. |
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2. |
What is the first step? |
Choose the name for the corporation. It is a requirement under The Dental Act, that the corporation name includes the words “Dental Corporation”. The applicant or his/her representative/lawyer/accountant is required to obtain a name reservation from the Corporation’s Branch of Manitoba and forward a written request for consent to incorporate, along with a copy of the Name Reservation issued by the Corporations Branch indicating the name is available and reserved for 90 days. |
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3. |
Once I have the MDA’s consent to incorporate what is the next step? |
Once the applicant’s lawyer/accountant/representative has prepared and submitted all the documentation required to the Corporations Branch and an Original Certificate of Status has been issued, a permit to practise dentistry as a corporation in Manitoba must be obtained from the MDA. |
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4. |
How do I obtain a permit to practise dentistry as a corporation in Manitoba? |
For a permit to practise dentistry as a corporation to be issued the applicant or his/her legal representative is required to forward the following documents completed correctly:
a) Schedule “A” Application for Permit to Practise as a Professional Corporation, including the signed Member’s Certificate;
b) Certified/notarized copy of the Articles of Incorporation;
c) An ORIGINAL Certificate of Status issued by the Manitoba Corporation Branch;
d) Cheque(s) totaling $400.00 ($250 for registration and $150 for annual permit). |
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5. |
Who can hold shares in the corporation? |
When preparing the share structure dental corporation shares may only be allocated as follows:
a) Voting shares: may only be held by a dentist licensed in Manitoba;
b) Non-voting shares: may only be held by the dentist, his/her legal/common-law spouse and/or natural/adopted children. No other person may hold non-voting shares. A numbered company owned by the dentist may also hold non-voting shares. |
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6. |
How often do I have to renew the permit? |
A permit to practise dentistry as a corporation has to be renewed annually – every June. The annual renewal fee is $150. A copy of the most recent Annual Return to the Corporations Branch must be included with the annual renewal application. The Corporations Branch requires an annual return annually after the first anniversary of the corporation. The annual return document is obtainable from the Corporations Branch and there is an annual filing fee. |
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7. |
Is malpractice insurance required? |
Upon receipt of the permit to practise dentistry as a corporation the dentist/corporation must provide proof that the corporation is included in the dentist’s malpractice insurance policy in the amount of not less than $3 million. |
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8. |
Does the MDA have to be informed if I make changes to the Corporation? |
Yes a “Statement of Particulars to Update or Renew Permit to Practise Dentistry as a Professional Corporation” must be completed and forwarded to the MDA office. |
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9. |
May a member incorporate more than once? |
Yes. However, the process and fees associated are the same for each new corporation. |
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