Launch an Investment Banking and Securities Intermediation Firm in Burnaby
This page guides you through the essentials to start an Investment Banking and Securities Intermediation business in Burnaby. You’ll find a clear 8-step requirements overview for NAICS 523150, plus practical details on permits, licenses, initial costs, and a realistic timeline to get your firm up and running.
What you'll learn: the 8 core requirements you'll need to meet, the permits and registrations to file, typical start-up costs, and a practical project timeline from incorporation to first client funding rounds. We'll cover regulatory considerations specific to Burnaby and British Columbia, office setup, technology and security needs, compliance programs, and ongoing reporting you'd implement from day one.
Burnaby combines proximity to Vancouver's financial markets with affordable business costs, a growing pool of local talent, and a supportive environment for small financial firms. This city‑business pairing can shorten onboarding timelines, ease licensing processes, and give you access to regional clients, investors, and partnerships while keeping compliance practical and costs predictable.
Requirements Overview
The most critical requirement for operating a business in Burnaby is the Business Number (BN) Registration. This BN, issued by the Canada Revenue Agency, is the foundation for all tax, payroll, and regulatory activities. You cannot legally operate, open bank accounts, hire staff, or bill clients without a BN, so getting this in place is non-negotiable and non‑starter.
For day-to-day operations, you’ll want to align on essential compliance and safety steps. Health and safety come first with WorkSafeBC Coverage and Registration to protect your team and meet provincial rules. On the regulatory side, you’ll need to address anti‑money laundering controls for securities, and obtain the appropriate industry memberships—MFDA for mutual funds and IIROC for securities intermediation. If you have employees, you’ll also handle payroll deductions registration as part of your ongoing obligations. These items are grouped as core operational requirements that keep your business legitimate and in good standing.
In addition to the BN, you’ll handle business name and tax registrations. BC Business Name Registration is required if you’re operating as a sole proprietor or partnership (or when naming a new venture), and GST/HST registration is needed for tax purposes when applicable. Payroll deductions registration may also come into play if you hire staff. Think of these as the practical tax and naming steps that support your core licensing and financial activities.
You’re off to a solid start—next steps are straightforward: confirm your business structure, secure the BN, register your BC business name (if applicable), and set up GST/HST and payroll registrations as needed. Then pursue the required industry memberships and AML controls, plus WorkSafeBC coverage. If you map these steps clearly and tackle them in sequence, you’ll move smoothly from launch toward compliant, scalable operation. If you’d like, I can outline a concrete 8-week checklist tailored to your exact business setup
Detailed Requirements
Here are the specific requirements for starting a investment banking and securities intermediation 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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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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Anti-Money Laundering (Securities) ConditionalRequired for securities activities. Securities dealers and fund managers must implement AML/ATF programs, conduct client identification and verification, report suspicious transactions to FINTRAC, and maintain compliance. FINTRAC registration and AML/ATF compliance for securities dealers. Know Your Client (KYC). Customer Due Diligence (CDD). Suspicious Transaction Reporting. Annual review. Training requirements. Contact FINTRAC: 1-866-346-8722.
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MFDA Membership (Mutual Fund Dealers) ConditionalRequired for specific regulated activities. Mutual fund dealers must be members of the Mutual Fund Dealers Association (MFDA) and comply with sales practices, proficiency, and compliance requirements. MFDA (now CIRO) mutual fund dealer membership. Capital requirements. Compliance systems. Dealing representatives. Contact CIRO: 1-888-466-6332.
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IIROC Membership ConditionalRequired for specific regulated activities. Investment dealers trading in securities must be members of the Investment Industry Regulatory Organization of Canada (IIROC) and comply with trading rules, capital requirements, and client protection. IIROC (now CIRO) dealer membership. Capital requirements. Compliance systems. Registered representatives. Contact CIRO: 1-877-442-4322.
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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 investment banking and securities 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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