Are CVORs transferable? Welcome back to the CVOR Podcast. I get this question frequently. Often what happens is a company is opened by one person as a sole proprietor. And then later on, they decide that, hey, I think for a number of different reasons that they should incorporate. And they would just like to transfer the CVOR from their personal, their sole proprietor business over to their incorporated business. And I get several phone calls a month asking me, how do I do that? Well, here's the answer. I mean, it is something that you would think is simple, and it's not. So here's my question to the MTO, and as you probably know, CVOR at Ontario. ca is a great email. And that's where I get my answers from. That's right from the MTO government. So, I simply asked hey, my client has a CVOR in their personal name, and now wants to transfer the CVOR to a corporation. If this is possible, how do we proceed? And the answer I got back is CVOR number is not, CVOR number is a non transferable. Therefore, your client is required to submit an application for a CVOR under the company or the corporate name. They have enclosed the application and all that kind of stuff for my client to complete. So. The news here is before you get your CVOR, think about how you want to structure your company. Is it going to be a sole proprietor, a partnership, or a corporation? And that may be a legal and a law question. Disclaimer! Disclaimer! I am not a lawyer or an accountant, and you should seek advice of those two, , to help you decide. However, The way I look at it, anything of substance that is more likely to get sued, such as a trucking company, because of your activity on the local streets and highways, you are much more likely to get sued than, let's say, a hairdresser. So, It is a great idea in my opinion to incorporate right from the beginning as a way of doing things in a good way. However, I say that and who in the hell am I? Go check with your lawyer, your accountant, your professionals that know much more than I do in that realm. That's it for this one. Are CVORs transferable? And the short answer is nope. Safety Dawg, I'm out.