Can a family trust hold shares in an Ontario professional corporation?

It depends on which profession's rules apply. Ontario's professional-corporation regime generally requires voting shares to be held by licensed members of the profession, but some governing bodies have adopted rules permitting a family trust (or family members directly) to hold non-voting shares in the corporation, subject to conditions set by that regulator. This is not a universal right available to every profession — it's an option some governing bodies allow and others don't.

Where it is permitted, the licensed professional typically still needs to hold the voting shares and remain in control of the corporation's practice decisions, with the family trust holding only a non-voting, economic interest for tax or estate-planning purposes. Because the availability and conditions vary by profession and can change, don't assume a structure used by a colleague in a different profession will work for yours. Confirm the current rule with your specific governing body before setting up a family trust as a shareholder, and have a lawyer review the shareholding structure to make sure it doesn't jeopardize the corporation's certificate of authorization.