Question: I’m in the process of claiming bankruptcy. How soon after can you register for a new business? Also would incorporating a new business before the bankruptcy be part of the the process?
Thank you for your question. Anyone who is filing for bankruptcy protection from their creditors cannot be a director of an incorporated business during the bankruptcy protection time period. However, you CAN start a sole proprietorship or a partnership that is not incorporated during that time period. Once you are discharged officially from your bankruptcy process you can proceed with incorporating your business.