Launch Your Nondepository Credit Intermediation Business in Saint John
This page guides you through starting an international, secondary market, and all other nondepository credit intermediation business (NAICS 522299) in Saint John, NB. You’ll find a practical overview of the 10 requirements, the permits you’ll need, the typical setup costs, and a realistic timeline from planning to launch. We’ll translate jargon into clear steps, with checklists you can tackle week by week, so you stay confident and on track.
What you’ll learn: the 10 core requirements, how to register your business, and the licenses you’ll need to operate legally in Saint John. We cover permits, registrations, insurance, and financial setup, plus required filings, deadlines, and a practical timeline and budget range. You’ll also get tips on choosing a business structure, finding credible partners, and keeping compliance simple as you grow.
Why Saint John, NB is a strong fit: this city offers a supportive small-business climate, affordable startup costs, and access to Atlantic markets, making it a smart base for a growing international and secondary market credit intermediation operation. With local mentors, accessible professional networks, and a straightforward regulatory path for many financial services activities, you’ll spend more time serving clients and less time chasing red tape.
Requirements Overview
The most critical requirement for operating a business in Saint John, New Brunswick is FINTRAC Registration (Anti-Money Laundering). This is a legal obligation for financial activities like non-depository credit intermediation, designed to detect and deter money laundering and financing of terrorism. You cannot legally operate without FINTRAC registration, and obtaining it upfront is non-negotiable.
Mandatory operational requirements cover health, safety, and permits. You’ll need New Brunswick WorkSafeNB Employer Coverage to protect workers and provide injury coverage. You’ll also need a valid Business Licence to operate in Saint John and any other required local permits before you start. In addition, be aware of any applicable financial-licensing rules, including Financial Institution Registration if it applies to your activities, to stay compliant day-to-day.
Business Registration & Tax: Get the core identifiers and registrations in place. Register your business name with Service NB (SNB). Choose your legal structure and complete Partnership Registration or NB Corporation Registration as appropriate. Open a Canada Revenue Agency Business Number (BN) to manage tax accounts, and register for GST/HST if you meet the threshold. If you have employees, set up Payroll Deductions Registration with the CRA. Having these numbers organized keeps your books running smoothly and helps you stay compliant.
Next steps: Start with FINTRAC, then tackle safety, licensing, and registration in a practical order. If you’d like, I can map out a simple, stage-by-stage action checklist tailored to Saint John and your business plan. You’ve got this — with a clear plan, you’ll be on solid regulatory footing quickly.
Detailed Requirements
Here are the specific requirements for starting a international, secondary market, and all other nondepository credit intermediation in Saint John:
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Business Licence RequiredGeneral business licence required to operate a business in City of Saint John. Apply to City of Saint John 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 Saint John Business Licensing for specific requirements. Home-based businesses may have different requirements. Annual renewal required.
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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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Financial Institution Registration RequiredFinancial institutions must be registered/licensed with federal (OSFI) or provincial (FSRA) regulators depending on incorporation and services offered. OSFI regulates federally incorporated banks, trust companies, insurance companies. Bank Act, Trust and Loan Companies Act, Insurance Companies Act. Provincial alternatives for credit unions. Minimum capital requirements. Governance requirements. Contact OSFI: 1-800-385-8647.
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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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New Brunswick Business Name Registration (SNB) RequiredBusinesses in New Brunswick must register their business name with Service New Brunswick if operating under a name other than the owner's legal name. This applies to sole proprietorships, partnerships, and trade names. Registration provides legal recognition and is required for business operations and licensing. Registration can be completed online through SNB Online. Business name registrations for sole proprietorships and partnerships must be renewed every 5 years. To register a business name in New Brunswick: 1. Conduct name search ($13.80) 2. Complete registration through SNB Online 3. Pay $112 registration fee (includes Royal Gazette) 4. Receive certificate of business name 5. Renew every 5 years ($62) 6. Report any changes as required
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Partnership Registration ConditionalRequired for partnerships. Registration of partnerships. Register through Province of New Brunswick Corporate Registry or business services: 1. Conduct name search if applicable 2. Complete registration application 3. Submit required documents 4. Pay registration fees Contact Province of New Brunswick government services for specific requirements and fees. Annual reporting may be required.
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NB Corporation Registration ConditionalRequired if incorporating in New Brunswick. Incorporation under NB law. Register through Province of New Brunswick Corporate Registry or business services: 1. Conduct name search if applicable 2. Complete registration application 3. Submit required documents 4. Pay registration fees Contact Province of New Brunswick government services for specific requirements and fees. Annual reporting may be required.
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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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New Brunswick WorkSafeNB Employer Coverage ConditionalRequired if you have employees in New Brunswick. Employers in New Brunswick must register with WorkSafeNB (Workplace Health, Safety and Compensation Commission) and maintain coverage for workers. WorkSafeNB provides insurance coverage for workplace injuries and occupational diseases. Most employers are required to register, with limited exceptions. Registration must occur within 10 days of commencing business operations or hiring the first worker. Employers pay assessments based on their classification unit rate and assessable payroll. To register with WorkSafeNB: 1. Determine if you're in a mandatory industry with 3+ workers 2. Register with WorkSafeNB online or by phone 3. Report assessable payroll annually 4. Pay premiums based on industry rate ($1.18/100 avg 2024) 5. Maintain coverage and report workplace injuries 6. Experience rating affects rate (+80% to -40%)
Funding & Grants
Available funding programs that may apply to your international, secondary market, and all other nondepository credit intermediation:
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The Invest Nova Scotia Payroll Rebate is a negotiated incentive for knowledge-based companies creating at least 20 net new full-time positions in Nova Scotia. The rebate is 5–10% of eligible gross payroll, disbursed annually over a set period (typically up to 5 years), after audited confirmation of job creation. Eligible …
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