How to Start a Claims Adjusting Business in Burnaby
This page is your practical, step-by-step guide to starting a 524291 claims adjusting business in Burnaby. It outlines what you need to launch, including the seven requirements, the permits and licenses to secure, and registrations that keep you compliant. You’ll get a clear view of costs and a realistic timeline from business setup to your first claim assignment.
Learn exactly what those seven requirements cover, the permits you may need in Burnaby and British Columbia, typical startup costs, and an actionable timeline for going from registration to fully operational. The guide also covers licensing basics, working with insurers, data privacy, and practical tips to manage risk and start earning revenue sooner.
Burnaby’s growing insurance market, proximity to Vancouver, and supportive local business environment make it a smart place to launch a claims adjusting practice. With seven clear steps, you’ll be set up for steady client work and scalable growth in BC.
Requirements Overview
The most critical requirement for operating a claims adjusting business in Burnaby is Business Number (BN) Registration. This is issued by the Canada Revenue Agency and you cannot legally operate here without it. The BN acts as your single government ID for taxes, payroll, and other compliance needs, and you’ll need it before invoicing clients or opening a business bank account. This is non-negotiable: without a BN you won’t be able to legally run the business.
Next, the mandatory operational requirements cover safety, licensing, and anti-money-laundering rules. You’ll need FINTRAC registration (Anti-Money Laundering) if your business handles certain payments, a BC Insurance Agent/Broker Licence from the Insurance Council of BC to conduct insurance-related work, and WorkSafeBC coverage and registration to keep your workplace compliant and safe. If you plan to hire staff, these obligations become especially important to meet from day one.
On the business registration and tax side, you’ll want to register your business name with BC if you’re operating under a name other than your own (BC Business Name Registration for Sole Proprietorship/Partnership). You may also need GST/HST registration if your taxable revenue meets the threshold (or if you want to claim input tax credits), and, if you have employees, Payroll Deductions Registration with the CRA to handle CPP, EI, and income tax withholdings. Your BN will support these registrations and filings.
You can tackle this step by step. Start with securing your BN, then complete the BC Business Name registration if needed, followed by the insurance licensing, AML, and safety requirements. As you progress, set up GST/HST and payroll registrations as appropriate. With a clear plan and steady progress, you’ll have a solid, compliant foundation to grow your Burnaby claims-adjusting business.
Detailed Requirements
Here are the specific requirements for starting a claims adjusting 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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BC Insurance Agent/Broker Licence (Insurance Council of BC) RequiredLicence to sell insurance products in British Columbia, regulated by Insurance Council of BC with three levels of licensing for general insurance, life insurance, and adjusters Apply through Insurance Council of BC. Level 1: Complete Fundamentals of Insurance ($249) or CAIB 1 + ICBC Autoplan Essentials. Exam fee: $195. Level 2: Work independently. Level 3: Manage brokerage. Must be nominated by licensed entity. April 2024: Level 3 no longer requires management role. Contact: Insurance Council of BC.
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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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