I have a client who is thinking of temporary closed down his small corporation because he just had a surgery done on his shoulder… so health issue. He a cleaner, so used hand a lot. But he would like to keep the corporation name in hope of coming back, depending on how soon he get clients back (as he lost all his clients before the surgery). He himself not sure about the timeline, but could be as soon as next summer, or as long as 3 years. And if it go too long, eventually he may decide to give up on his corporation.
Any suggestion on what he should do? Because of his uncertainty, I suggest him to close all his business related expense first, (eg. bank account) so to bring down the expense to 0 as he is not going to do anything, and file as an inactive corporation. Is this a good suggestion? Or is he actually better of filing as business dissolution, and later incorporate his business again? By doing this, does he have to go through all the incorporation registration process again? And will this mean his incorporation business name might be taken by someone while his corporation in dissolution?