Start Surrey International Credit Intermediation: Secondary Market Opportunities
This page is your practical, step-by-step guide to launching an International, Secondary Market, and All Other Nondepository Credit Intermediation business in Surrey. We translate the regulatory maze into an actionable plan by outlining eight clear requirements and the real-world permits, registrations, and setup tasks you’ll tackle before launch. Use the concise checklist, estimated costs, and a realistic timeline to move confidently from concept to operating.
Here’s what you’ll learn: which federal, provincial, and municipal licenses apply to your niche; the permits you may need for lending activity and data handling; how to choose a business structure; startup costs to expect (incorporation, licensing, insurance, technology, and office space); and the ongoing steps for reporting and compliance. We break the eight requirements into clear, doable tasks with a practical timeline from incorporation to launch.
Why Surrey? It’s part of a thriving Metro Vancouver market, close to clients and partners, with a diverse talent pool and a pro-business environment—great for growth in the international credit intermediation space.
Requirements Overview
The most critical requirement for operating a financial intermediation business in Surrey is FINTRAC Registration (Anti-Money Laundering). This registration is legally required for entities that handle money or offer lending services, and you cannot operate legally without it. It establishes your AML controls, reporting, and record-keeping so you stay compliant with Canadian law. This is non-negotiable and essential to begin any compliant operation.
Beyond AML, you must cover health, safety, and municipal permits. Make sure you have WorkSafeBC coverage and registration for workers’ compensation, and obtain a valid City of Surrey business licence to legally operate from the municipality. If you’re using a business name other than your own, also register your BC Business Name for a sole proprietorship or partnership. These steps help ensure your workplace is safe and that you’re permitted to operate in your local jurisdiction.
Business Registration & Tax: Set up a Canada Revenue Agency Business Number (BN) to manage taxes and federal program accounts. If you operate as a sole proprietor or partnership with a trade name, register the BC Business Name as well. Plan for GST/HST registration if your taxable supplies meet the threshold, and set up Payroll Deductions registration with the CRA to handle employee withholdings. Depending on the exact activities, you may also need Financial Institution Registration with the provincial regulator.
Next steps: review which registrations apply to your specific setup, gather the required documents, and reach out to the relevant agencies (FINTRAC, CRA, BC Registry, WorkSafeBC, and city hall) to begin. Take it one step at a time, and consider a quick consult with a compliance professional to keep you on track. You’ve got this.
Detailed Requirements
Here are the specific requirements for starting a international, secondary market, and all other nondepository credit intermediation in Surrey:
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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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Business Licence RequiredGeneral business licence required to operate a business in City of Surrey. Apply to City of Surrey 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 Surrey Business Licensing for specific requirements. Home-based businesses may have different requirements. Annual renewal required.
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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.
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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