The Canada Business Corporations Act requires that companies hold regular shareholder meetings but the statute allows companies to dispense with the requirement of physical meetings by using written resolutions instead (s. 142(b)).
Written resolutions are a great tool for corporations owned by a single shareholder or a small team of co-founders but it's important to note that all of the required business of a shareholder meeting must be addressed in the written resolutions.
Another good tool for small non-distributing
companies (especially single shareholder companies) that are looking to save money is the ability to dispense with the auditor requirement, as per s. 163(1).
Whether proceeding by written resolution or holding an actual shareholder meeting, it's important for companies to keep in mind the deadlines for shareholder meetings stipulated by s. 133.
The Ontario Business Corporations Act (OBCA) has very similar requirements for Ontario corporations, and it also allows written resolutions and dispensing with the auditor requirement.
You should speak with a corporate lawyer if you're behind on (or have never done) your corporate housekeeping.