Northwest Territories Certificates of Status are issued by the NWT government.
A Northwest Territories Certificate of Status is required when you need to provide someone or some other company with the assurance that your NWT company is in good standing.
The Certificate of Status for a NWT company will provide the accurate current name of the company, the corporate number issued for the company by the NWT government and the status of the company, i.e. whether it is still active and in compliance with its filings.
NWT companies must file federal tax returns each year and if those returns are not filed for a number of years the federal government will dissolve the company. If your address is current on file you will be provided with warning from the Revenue Canada Agency that tax returns are due. You would not be able to obtain a favourable Certificate of Status for a company that has been dissolved.
Certificates of Status are sometimes required by banks, law firms, individuals on the other side of a corporate deal whereby you may be selling your company, buying property, registering a vehicle, renewing a domain name, etc. Any person or company that your NWT company is dealing with may ask you to provide them with a Certificate of Status to ensure your company is in good standing with the NWT government.
Your clients may also order a Certificate of Status directly on their own to ensure your business is in good standing. This happens quite frequently.
A certificate of status for a NWT company will take 24 to 48 hours to be provided and it will be in the form of a pdf.