Launch Your All Other Insurance Related Activities Business in Burnaby
This page offers a practical blueprint to start an All Other Insurance Related Activities business (NAICS 524298) in Burnaby. You’ll get a clear overview of the six requirements to meet, plus the permits, costs, and typical timeline involved. We break the path down from registrations to first-day readiness so you can estimate startup needs and hit the ground running.
What you’ll learn: the six core requirements, the licenses and registrations to secure, which permits may apply in Burnaby and British Columbia, expected costs, and a realistic timeline from start to opening. You’ll also get practical tips for gathering documents, choosing a business structure, and setting milestones.
Why Burnaby works: this city in the Metro Vancouver area offers strong demand for insurance-related services, easy access to clients and partners, and supportive local resources to help your business grow. Jump in with confidence and plan a smooth, cost-conscious path to launch.
Requirements Overview
The most critical requirement for operating a business in Burnaby is the Business Number (BN) Registration. This federal identifier, issued by the Canada Revenue Agency, is what you need to interact with government programs, file taxes, and set up payroll accounts. You cannot legally operate or hire staff without a BN, so treat this as non-negotiable and front-and-center when you start planning.
For operational compliance, you’ll want to cover money-laundering controls, safety obligations, and naming requirements. FINTRAC Registration (Anti-Money Laundering) may apply to your activities, and if so you’ll need to implement an AML program, keep records, and file required reports. BC WorkSafeBC Coverage and Registration is essential if you have employees, ensuring you carry workers’ compensation coverage and maintain a safe workplace. And if you’ll operate under a name other than your own personal name, BC Business Name Registration (Sole Proprietorship/Partnership) is required to legally identify your business; if you’re using your legal name, registration may not be needed.
On the tax and business-registration side, your BN is the hub that links your registrations. GST/HST Registration with the CRA is necessary if your taxable supplies exceed $30,000 in a calendar quarter or over four quarters, though you can also register voluntarily to claim input tax credits. Payroll Deductions Registration with the CRA is required if you have employees, so you can withhold income tax, CPP, and EI and remit them on time (with year-end T4s). With these steps in place, you’ll have the essential structure to run your insurance-related activities more confidently and in good standing.
If you’re ready, start by gathering your business and personal information, decide on your structure, and begin the BN application. Then move through FINTRAC (if applicable), BC naming, WorkSafeBC, and your tax registrations in sequence. You’ve got a clear, practical path ahead—one solid step at a tim
Detailed Requirements
Here are the specific requirements for starting a all other insurance related activities in Burnaby:
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Business Number (BN) Registration RequiredA 9-digit Business Number is required for most businesses operating in Canada. It is used to interact with the Canada Revenue Agency and other federal programs. Required for GST/HST, payroll, corporation income tax, and import/export accounts. Register FREE online through Business Registration Online (BRO) at canada.ca. Takes 15-30 minutes. As of November 3, 2025, online registration is MANDATORY for new BNs - phone registration no longer available. You'll need: business name, address, owner SIN, business type, and start date. BN (9-digit number) issued INSTANTLY online. Available 21 hours/day, 7 days/week (closed 3-6am ET for maintenance).
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FINTRAC Registration (Anti-Money Laundering) RequiredFinancial services must register with FINTRAC and implement anti-money laundering and terrorist financing compliance programs. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Mandatory for: MSBs, casinos, real estate, securities, accountants, BC notaries. Register online. Compliance program required. Suspicious transaction reporting. Large cash reporting ($10K+). Keep records 5 years. Contact FINTRAC: 1-866-346-8722.
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BC Business Name Registration (Sole Proprietorship/Partnership) RequiredRegistration of sole proprietorship or partnership business names with BC Registries Register sole proprietorship or partnership at bcregistry.gov.bc.ca. Name reservation: $30 (standard) or $100 (priority 1-2 days). Registration fee: $40. Total: ~$70. Name reserved for 56 days after approval. Registration is continuous (no renewal required). No name protection for sole proprietorships. Personal names operating under own name do not require registration. Contact BC Registries: 1-877-526-1526.
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GST/HST Registration ConditionalRequired if annual taxable revenue exceeds $30,000 (small supplier threshold). Taxi/ride-share drivers must register regardless of revenue. Businesses with gross revenues over $30,000 in any single quarter or over four consecutive quarters must register for, collect, and remit GST/HST. Small suppliers (under $30,000) may register voluntarily. Register FREE online through Business Registration Online (BRO) when your revenue exceeds $30,000 in any 4 consecutive quarters (small supplier threshold). Takes 15-30 minutes. You MUST register within 29 days of exceeding threshold and start charging GST/HST immediately on the sale that made you exceed it. Need your BN (or get one simultaneously). As of Nov 3, 2025, online registration is mandatory. Voluntary registration available anytime for input tax credits.
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Payroll Deductions Registration ConditionalRequired if you pay salaries, wages, or other remuneration to employees. Must register before first pay period. Required if you have employees. You must withhold Canada Pension Plan (CPP), Employment Insurance (EI), and income tax from employee wages and remit to CRA. Register FREE online through Business Registration Online (BRO) when you hire your first employee. Takes 15-20 minutes. You'll need your Business Number (BN) or can get one simultaneously. Payroll account (RP) added to your BN instantly. Register BEFORE your first pay date. Required to deduct CPP, EI, and income tax from employee wages. For 2025: CPP rate 5.95%, EI employee rate $1.66/$100 insurable earnings.
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WorkSafeBC Coverage and Registration ConditionalRequired if you have workers in BC. Workers compensation insurance coverage through WorkSafeBC for employers in British Columbia WorkSafeBC coverage required for most BC employers. Average base premium rate: 1.55% of assessable payroll ($1.55 per $100). Register online at worksafebc.com. Apply 30 days before starting business or hiring workers. Processing: ~10 business days. Premium rates vary by industry classification (514 classification units). COR certified employers eligible for 10% rebate. Contact: 604-276-3100 or 1-888-967-5377.
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