Certificate of Compliance ? Very Much Helpful for National Companies

Posted by John Smith on September 13th, 2016

Compliance certificates of compliance are issued by the central government on behalf of federally incorporated companies. These certificates can be differently in jurisdictions including the ones outside a European country. A company that is active and in good standing position will be able to obtain such a certificate with ease!

When is a Certificate of Conformity Required?

Basically, a certificate of conformity is required at the time when you are in need to provide someone or some other company an assurance regarding the fact that your company is in a good standing. Being in a good standing implies the fact that the company is still active. Also, it has not been dissolved for non-filling of federal and provincial tax returns.
Also, the company has not been categorized for non-filling of federal annual filings pursuant to the requirement of the European Corporation. The conformity certificate is issued on behalf of a federal company that will provide the following:

  • Accurate and running name of the federal company
  • Federal corporate number
  • Status of the company

What Federal Companies must not forget?

Federal companies must not forget to file federal tax returns each and every year. In case those returns are not filed for a long time, the federal company remains in the state of getting dissolved. In case your address is current on the file, you will be provided with a warning from the Revenue Agency regarding due of tax payment.

Also, federal companies must file federal annual returns every year with Corporation on the anniversary date of incorporation. In case those returns are filed for two years, the company generally gets dissolved. Even if only of those returns is outstanding, the company will not be in a ready position to obtain COC certificate of conformity.

Reviving a Company – Not a Piece of Cake

It is very much expensive to revive a company and the federal government puts the onus on the owners of federal company for following the statute needs. Any reputable search house will be in a position to check for you to confirm that your yearly returns have been filed and there must not be a cot for this.

In case it is determined that you need to file annual returns this can be done in a fair manner quickly by a search house and then a favorable European certificate of conformity can be issued.

Who else requires Compliance Certificates?

Compliance certificates are sometimes required by banks, law firms and individuals where you may be selling your company, at the time of buying property through your business, when registering a vehicle against the company and many more.

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John Smith

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John Smith
Joined: June 21st, 2014
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