Do PRECs Need to Register with WorkSafeBC?
Do Personal Real Estate Corporations need to register with WorkSafeBC? This question has come up a couple of times recently, so here’s the answer: it depends.
The first thing WorkSafeBC looks at is the status of the licensee who is the sole voting shareholder of the personal real estate corporation (PREC). This analysis determines whether the licensee is an independent contractor or a worker. To make the decision, WorkSafeBC uses:
If the licensee is determined to be an independent contractor, then the corporate entity is considered to be the employer of the licensee and must register with WorkSafeBC.
An unincorporated licensee, whom WorkSafeBC determines is an independent operator, can apply for Personal Option Protection coverage from WorkSafeBC.