Yes. A conversion is generally possible at any time. Starting out as a sole proprietorship—for example, due to the need to draw on LPP assets—does not preclude a future transition to a corporation. However, it will generally no longer be possible to choose to have the ownership interest form part of the entrepreneur’s “elective” business assets.
Is it still possible to convert from a sole proprietorship to a corporation at a later date?
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About the Author: Attorney Cedric PANCHAUD
Cédric Panchaud is an attorney, holds a doctorate in law, is a licensed notary, and is a certified tax expert. He heads PANCHAUD Tax & Legal SA, an independent firm in Geneva specializing in taxation of individuals and corporations, real estate taxation, occupational pension plans, and corporate restructuring. He regularly serves as a speaker at continuing education seminars (ISIS, OREF/EXPERTsuisse).