Province-specific preparation
Choose the Ontario or BC filing service for your real estate practice.
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PREC INCORPORATION IN ONTARIO & BC
Incorporate a Personal Real Estate Corporation (PREC) in Ontario or British Columbia. Prepare your corporate filing and understand the brokerage and regulatory steps that follow.
PERSONAL REAL ESTATE CORPORATION INCORPORATION
A Personal Real Estate Corporation (PREC) lets an eligible real estate professional receive brokerage commissions through a corporation, subject to provincial rules.
Ontario and BC follow different PREC requirements. Confirm your eligibility with your brokerage and discuss the proposed share structure with your lawyer or accountant before incorporating.
ONTARIO & BRITISH COLUMBIA
Select the province where you practise. Each option supports incorporation, with separate regulatory requirements before your PREC can receive remuneration.
Incorporation for real estate professionals in Ontario and BC.
For Ontario real estate agents
Build a corporate structure for your commissions.
Incorporate your Ontario PREC, then complete the required brokerage agreement and RECO notification.
For BC real estate professionals
Incorporate before applying for PREC licensing.
Form your BC PREC with a compliant name and share structure before applying to BCFSA.
Have questions about your PREC application? Tell us where you practise and what your brokerage requires, and we can explain the filing service.
Ask about PREC filing ↗WHY CHOOSE NUANS PRE-SEARCH
Bring your PREC plans and proposed company details to NP. We help you prepare the incorporation application while keeping corporate filing separate from brokerage approval, licensing and tax advice.
Questions? Speak with our teamChoose the Ontario or BC filing service for your real estate practice.
Provide your approved details so the incorporation documents reflect your plans.
Ask our team about the application, required information and your order.
HOW PREC INCORPORATION WORKS
Start with the correct provincial service, provide your incorporation details and prepare for the regulatory steps needed after the company is formed.
Select your province and confirm your plans with your brokerage and professional advisers.
Compare PREC services ↗Submit your proposed name, office address, controlling shareholder and share structure for the incorporation application.
Confirm naming and ownership requirements firstReceive your incorporation documents, then arrange Ontario brokerage and notification requirements or BC PREC licensing.
Incorporation alone does not authorize commissions
WHAT YOU NEED TO FORM A PREC
Gather the information below and confirm your proposed structure with your advisers before submitting your application.
Proposed corporate name
Provide your preferred name, following the specific PREC naming rules in BC.
Registration & brokerage
Your province, individual registration or licence details, and brokerage information.
Corporate addresses
The required registered office, records office where applicable, and mailing details.
Ownership & control
Controlling shareholder, director and officer details, plus the proposed share classes.
CUSTOMER CONFIDENCE
See what customers across Canada say about working with us, then talk to our team about your plans.
Read what business owners, founders and organizations say about working with NP, then speak with our team about the right service for you.
PERSONAL REAL ESTATE CORPORATION GUIDE
A PREC brings corporate responsibilities alongside your real estate obligations. Consider these four points before you apply.
In Ontario, a qualifying PREC is exempt from RECO registration, but the agent remains registered. In BC, both the individual and the PREC must hold the appropriate BCFSA licences.
Choose the service for your province and confirm the regulatory steps with your brokerage.
Compare provincial services ↗A PREC is controlled by one eligible real estate professional. Voting or equity ownership and director requirements are restricted, while permitted non-voting shareholders depend on the province.
Have your lawyer confirm the share structure before incorporation or any share transfer.
Review Ontario requirements ↗BC requires the controlling individual’s permitted name followed by “Personal Real Estate Corporation.” Ontario applies ordinary corporate naming rules, and a PREC must not be advertised as a brokerage.
Confirm the name before ordering a search; Ontario and BC use different approval processes.
Review BC PREC guidance ↗Keep corporate records current, submit required registry filings and file the corporation’s CRA returns. Maintain your individual registration or licence and meet all applicable PREC requirements.
Coordinate corporate changes with your brokerage and regulator as well as the company registry.
Explore corporate filings ↗FREQUENTLY ASKED QUESTIONS
Answers about PREC eligibility, ownership, incorporation and ongoing responsibilities in Ontario and British Columbia.
Our team can explain the Ontario and BC incorporation services and the details needed to apply.
Contact our team ↗A PREC is a corporation that an eligible real estate professional uses to receive remuneration from their brokerage under provincial rules. It is different from incorporating a real estate brokerage or a company simply to hold investment property.
A PREC is an option for eligible Ontario-registered real estate brokers and salespersons, or BC licensees practising through a brokerage. Your individual registration or licence must remain valid, and your corporation must meet the province’s ownership and operating conditions.
A qualifying Ontario PREC is exempt from RECO registration. The agent must notify RECO of its legal name and address for service and ensure the required agreement between the agent, PREC and brokerage is in place.
Yes, both the BC PREC and its controlling individual must be licensed by BCFSA. Incorporate the company first, then submit the PREC licence application; the incorporation certificate alone is not a real estate licence.
The controlling professional must hold the required voting or equity shares; two agents cannot share control of one PREC. Eligible family members or other permitted persons may hold non-voting shares, but the ownership rules differ between Ontario and BC.
A BC PREC name must contain only the controlling individual’s permitted name and “Personal Real Estate Corporation.” Ontario does not impose that PREC-specific name format, but the name must meet corporate naming rules and the PREC cannot be promoted as trading in real estate.
Not automatically: the applicable PREC conditions must be met before remuneration is paid to the corporation. Ontario requires the prescribed brokerage agreement and compliance steps, while BC requires PREC licensing and payment through the related brokerage.
Prepare your proposed corporate name, office addresses, controlling shareholder details, director and officer information, and share structure. Keep your individual registration or licence and brokerage details available for the separate regulatory steps.
No, a PREC does not guarantee lower taxes or make every expense deductible. Ask an accountant to assess corporate taxation, how you will withdraw earnings and the ongoing filing obligations for your circumstances.
No, incorporating a PREC does not remove your individual real estate duties or regulatory accountability. Continue to follow your regulator’s conduct and insurance requirements and obtain advice about any personal liability exposure.
Maintain corporate records, required registry filings, CRA tax returns and the applicable individual and PREC regulatory requirements. Missed filings or breaches can lead to penalties, corporate status problems or restrictions on receiving remuneration through the PREC.