Professional Accounting Corporation BC: CPABC Permit Guide

British Columbia does two things differently from the rest of Canada, and both matter before you file anything.

First, the name. Everywhere else in this guide, the rule is that a professional corporation's legal name must contain the words "Professional Corporation". In BC it is the opposite: a professional accounting corporation's name must be an approved name followed by "Ltd.", "Limited", "Inc.", "Incorporated", "Corp." or "Corporation". If you arrive from Ontario or Alberta expecting the familiar suffix, you will file the wrong name.

Second, the permit is not a licence. CPABC issues an incorporation permit for the corporation; that permit is not a licence to practise public accounting. Public practice licensing is a separate track with its own requirements. Holding one without the other leaves a gap.

Key facts at a glance

Item	British Columbia rule
Governing legislation	Chartered Professional Accountants Act (BC), sections 39, 40 and 41
Corporate registry	BC Registries (Corporate Online)
Regulator & required authorization	CPABC — incorporation permit for a professional accounting corporation (PAC)
Naming rule	An approved name followed by "Ltd.", "Limited", "Inc.", "Incorporated", "Corp." or "Corporation" — not "Professional Corporation"
Name approval standard	Same rules as permissible practice names under CPABC Code of Professional Conduct Rule 401
Voting shares	All voting shares held by a member in good standing, directly or through a holding company
Annual renewal permit fee	$120.75 ($115 + GST)
Important limit	An incorporation permit is not a licence to practise public accounting

CPABC publishes its public practice fees and updates them periodically — we confirm the current amount at the time of filing.

How to set up a professional accounting corporation in BC

1. Choose a name that satisfies Rule 401. The corporate name rules mirror the rules for permissible practice names in CPABC's Code of Professional Conduct.
2. Use the correct legal element — "Ltd.", "Limited", "Inc.", "Incorporated", "Corp." or "Corporation". Do not use "Professional Corporation".
3. File the BC Registries name request once the name will clear on both counts.
4. Structure the share classes so every voting share is held by a member in good standing, either directly or through a holding company — BC expressly permits the holding-company route.
5. Incorporate at BC Registries with articles meeting sections 39–41 of the Chartered Professional Accountants Act.
6. Apply to CPABC for the incorporation permit.
7. Sort out public practice licensing separately if the corporation will practise public accounting — the permit alone does not authorise it.
8. Renew annually — the CPABC permit ($120.75) and the corporation's BC annual report.

Step 7 is the one that produces unpleasant surprises. The permit makes the corporation a recognised professional accounting corporation; it does not make it licensed to do public accounting work.

Step 1: Incorporate at BC Registries

Settle the name first. Because BC applies its practice-name rules (Rule 401) to corporate names, a name that would be fine for an ordinary company can still be refused — and because the required legal element is the ordinary corporate one, the name will not look like a professional corporation to anyone used to other provinces.

The articles then need share provisions that satisfy sections 39, 40 and 41 of the Act. The key requirement is that all voting shares sit with a member in good standing. BC explicitly allows those shares to be held through a holding company, which gives more structuring flexibility than several other provinces — but the member-in-good-standing test still has to be satisfied up the chain.

We handle the BC name request and incorporation and structure the shares to the Act's requirements.

Step 2: Get your CPABC incorporation permit

With the corporation registered, apply to CPABC for the incorporation permit. The permit is what recognises the company as a professional accounting corporation under the Act.

Be clear about what it does not do. CPABC states plainly that an incorporation permit is not a licence to practise public accounting. If the corporation will perform audits, reviews or other regulated assurance work, public practice licensing is a separate application with its own criteria — budget for both.

If CPABC or a lender asks for supporting registry documents, we can pull a current record the same day through a professional corporation profile report.

Shareholders, directors and restrictions

All voting shares must be held by a member in good standing, directly or through a holding company. "In good standing" is a live condition, not a one-time check — a lapse in the member's own standing puts the corporation's permit at risk.

Because the share and governance provisions sit in sections 39–41 of the Act and in CPABC's rules, confirm the current requirements with your advisor before finalising the structure, particularly where a holding company or non-member family shareholding is contemplated.

Keeping it alive: annual renewals

CPABC track. The annual renewal permit fee for a professional accounting corporation is $120.75 ($115 plus GST). If the corporation also holds public practice licensing, that renews on its own track with its own fee.

Registry track. The corporation must file its BC annual report with BC Registries within two months of each incorporation anniversary. Two consecutive missed filings can lead to dissolution, which ends the CPABC permit with it.

Our renewals guide collects every regulator's deadline in one table.

Why accountants incorporate

The tax case is the familiar one — income taxed at small-business corporate rates rather than top personal rates, deferral, and control over when income is drawn personally. BC's holding-company allowance can give more flexibility in how ownership is arranged, subject to the member-in-good-standing requirement.

Those numbers belong with your own tax advisor. We describe the structure factually and handle the filings.

Frequently asked questions

How do I set up a professional accounting corporation in BC?

Choose a name that satisfies CPABC's practice-name rules under Code Rule 401 with an ordinary legal element ("Ltd.", "Inc.", "Corp." and so on), file a BC Registries name request, incorporate with share classes meeting sections 39–41 of the Chartered Professional Accountants Act, then apply to CPABC for the incorporation permit.

Does a BC professional accounting corporation's name include "Professional Corporation"?

No — and this is where BC differs from most provinces. The name must be an approved name followed by "Ltd.", "Limited", "Inc.", "Incorporated", "Corp." or "Corporation". The naming standard follows CPABC Code of Professional Conduct Rule 401.

Does the CPABC incorporation permit let me practise public accounting?

No. CPABC states that an incorporation permit is not a licence to practise public accounting. If the corporation will do audits, reviews or other regulated assurance work, you need public practice licensing as a separate matter.

Can a holding company own the shares of my professional accounting corporation?

Yes. The Act requires all voting shares to be held by a member in good standing, either directly or through a holding company — BC expressly contemplates the holding-company structure.

How much is the CPABC annual renewal?

The annual renewal permit fee for a professional accounting corporation is $120.75 ($115 plus GST). CPABC updates its public practice fees periodically, so confirm the current figure before paying.

Incorporate your BC professional accounting corporation — free consultation

Two filings, one deadline-proof plan. In a free consultation, a Corporate Registry Services specialist maps both steps for your BC practice — the name request and incorporation with a Rule 401-compliant name and correct share structure, and the CPABC incorporation permit — plus the annual renewals that keep both alive.

Book your free professional corporation consultation →

Related guides

• Professional corporations in Canada — the pillar guide
• Professional corporations in British Columbia — the BC hub
• Professional corporation renewals — every regulator's deadline in one table
• CPA professional corporation in Ontario — the CPA Ontario route, for comparison