Launch a Finfish Fishing Business in Regina Today
This page guides you through starting a finfish fishing operation in Regina (NAICS 114111). It lays out the 10 essential requirements you'll tackle, from registering your business to securing the necessary permits and licenses. You’ll get a clear, practical roadmap that covers setup costs and a realistic timeline, helping you move from idea to a compliant, cash-flow-positive operation.
What you’ll learn here: the exact permits and licenses required at federal and provincial levels—fishing licenses, vessel and gear permits, and mandatory reporting. We break down typical costs, from license fees and insurance to gear and vessel setup, so you can budget confidently. You’ll also see a practical timeline from registration to first harvest under NAICS 114111.
Why Regina makes sense: Saskatchewan’s fishing landscape and Regina’s business support network create a solid base for a finfish operation. A central city location, access to regional markets, and local guidance can shorten your rollout and help you stay compliant while growing your new venture.
Requirements Overview
The most critical requirement for operating a finfish fishing business in Regina is the DFO Commercial Fishing Licence. This licence is legally required and you cannot operate without it; it’s issued by Fisheries and Oceans Canada and sets who may fish, where, when, and what species you can harvest. Without a valid licence in place, any fishing activity is not permitted, so securing this first is non-negotiable.
Beyond that federal licence, you’ll need essential operational permits and safeguards. Plan for a municipal Business Licence with the City of Regina to legally run activities in town. If you hire employees, you must register for Saskatchewan WCB (workers’ compensation) and set up payroll deductions for your staff. You’ll also need to comply with Species at Risk Act requirements if your fishing or processing could affect protected species. Depending on your business structure, you may need Partnership Registration or Saskatchewan Corporation Registration to reflect how you’re legally organized.
For registering your business and handling taxes, you’ll want Saskatchewan Business Name Registration (ISC) and a Business Number (BN) from the federal government. GST/HST registration should be arranged if your revenue crosses thresholds or your activities require it, and payroll deductions registration is needed if you have employees. If you choose to operate as a corporation, Saskatchewan Corporation Registration will also be part of the setup; otherwise, plan accordingly for a partnership.
Ready to move forward? Start with the DFO licence as the foundation, then line up the municipal licence and business name registration, and set up your BN, GST/HST, and payroll framework. If you’d like, I can tailor a simple step-by-step 6–8 week plan based on your exact structure and timeline. You’ve got this—taking these concrete steps will get you on solid footing.
Detailed Requirements
Here are the specific requirements for starting a finfish fishing in Regina:
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Business Licence RequiredGeneral business licence required to operate a business in City of Regina. Apply to City of Regina for Business Licence: 1. Determine business category 2. Complete business licence application 3. Submit required documents (ID, lease, zoning confirmation) 4. Pay application and annual fees 5. Await approval and receive licence Contact City of Regina Business Licensing for specific requirements. Home-based businesses may have different requirements. Annual renewal required.
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Saskatchewan Business Name Registration (ISC) RequiredBusinesses in Saskatchewan operating under a name other than the owner's legal name must register with Corporate Registry. This applies to sole proprietorships, partnerships, and business names for corporations. Registration provides legal recognition and is required for business operations, banking, and licensing. Registration can be completed online through Corporate Registry. Business name registrations must be renewed every 5 years for sole proprietorships and partnerships. Register with ISC (Information Services Corporation) for business name. Required for sole proprietorships with trade name, partnerships. $65 registration fee, $60 renewal. Name reservation valid 90 days. Online registration also registers with Ministry of Finance and CRA.
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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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DFO Commercial Fishing Licence RequiredDFO Commercial Fishing License & Quota System requirement for businesses in this jurisdiction. This licensing requirement ensures compliance with provincial regulations, protects consumers, and maintains industry standards. Requirements typically include business registration, professional qualifications or training, facility standards where applicable, insurance coverage, and adherence to relevant codes of practice. Specific details vary by province and business type. Businesses must consult relevant provincial authorities, regulatory colleges, or licensing bodies for complete requirements. Operating without required licensing may result in fines, closure orders, or inability to legally operate. Apply to Fisheries and Oceans Canada (DFO) for commercial fishing licence. Species-specific, quota-based system.
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Partnership Registration ConditionalRequired for partnerships. Registration of partnerships in Saskatchewan. Register partnership with ISC: 1. Complete partnership registration form 2. Submit through ISC 3. Pay registration fees General and limited partnerships. Annual return may be required.
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Species at Risk Act Compliance ConditionalRequired for specific regulated activities. Operations affecting endangered species must comply with SARA, obtain permits, and implement mitigation measures to protect threatened wildlife. Species at Risk Act (SARA) federally. Permits for activities affecting listed species. Recovery strategies. Critical habitat protection. Assessment by COSEWIC. Provincial ESA may also apply. Environmental assessment integration. Contact Environment Canada: 1-800-668-6767.
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Saskatchewan WCB Employer Registration ConditionalRequired if you have employees in Saskatchewan. Employers in Saskatchewan must register with the Workers' Compensation Board (WCB) and maintain coverage for workers. WCB provides insurance for workplace injuries and occupational diseases. Most employers are required to register, with some exceptions for specific industries and self-employed individuals. Registration should occur before hiring the first worker or commencing operations. Employers pay premiums based on their industry classification rate and assessable payroll. Register with Saskatchewan WCB for workers compensation coverage. Required for employers in mandatory industries. 2024 average premium rate $1.28 per $100 payroll. Maximum assessable earnings $104,531. Directors on T4 excluded from 2025.
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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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Saskatchewan Corporation Registration ConditionalRequired if incorporating in Saskatchewan. Incorporation of a company under Saskatchewan law. Incorporate through ISC Corporate Registry: 1. Conduct NUANS name search 2. Prepare articles of incorporation 3. Submit through ISC online or registry 4. Pay incorporation fees Annual return required. Federal incorporation is alternative option.
Funding & Grants
Available funding programs that may apply to your finfish fishing:
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A $25.7M program under the Sustainable Canadian Agricultural Partnership open to not-for-profit and Indigenous organizations. AAFC contributes up to 70% of eligible costs (max $1M/year or $5M over 5 years; $100K/year or $500K for national fair projects). In-kind contributions capped at 15% of total. Priority intake closed May 30, 2025; …
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A non-refundable BC personal and corporate income tax credit equal to 25% of the fair market value of eligible agricultural products donated to qualifying registered charities in BC. Available for donations made between February 16, 2016 and December 31, 2026. The credit is claimed in addition to the regular charitable …
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A provincial personal and corporate income tax credit for arm's-length investors who purchase shares in certified eligible NL small businesses. The credit is 35% for businesses operating outside the North East Avalon region and 20% for businesses within the North East Avalon. Maximum annual credit is $50,000 per investor. Carry-forward: …
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The Ignite Program provides up to $300,000 to BC-based industry-academic teams for R&D projects in natural resources, applied science, and/or engineering. Projects must be at TRL 3 or above, have commercialization potential within 3 years, and secure 2:1 matching funds from industry or government sources. Funded by the Natural Resources …
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BCSRIF is funded 70% federally (DFO) and 30% provincially (BC). Phase 2 provided $128.55M for 73 projects. Covers up to 100% of eligible costs for non-commercial organizations; commercial recipients receive 50-90% depending on size. Available for BC-based projects until March 31, 2026. Applications assessed competitively on merit.
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