Start Your Jewelry, Watches, and Precious Metals Wholesale Business in Montreal
This page provides a practical, step-by-step guide to launching a NAICS 423940 Jewelry, Watches, Precious Stone, and Precious Metal Merchant Wholesale business in Montreal. You’ll get a clear overview of the 11 requirements, plus the permits, cost ranges, and a realistic timeline to get you up and running. Use our checklists to plan business registration, licensing, inventory setup, and supplier onboarding with confidence.
What you’ll learn: a practical sequence to register your business, obtain GST/HST and QST numbers, and secure the necessary licenses. We break down typical start-up costs—inventory, insurance, security, space (office or warehouse)—and provide a realistic timeline from incorporation to the first shipment. You’ll also see essential compliance steps, anti-money-laundering considerations, and how to vet suppliers in Montreal and beyond.
Montreal is a vibrant hub for jewelry, watches, and precious metals. The city’s strong supplier networks, proximity to North American markets, and bilingual workforce help you grow faster—whether you operate a showroom, a warehouse, or an online storefront.
Requirements Overview
The most critical requirement for operating a jewelry, watch, precious stone, and precious metal merchant wholesale business in Montreal is Product Safety and Recall Obligations. This is a legal requirement, and you cannot legally operate without meeting it. It is non-negotiable: you must have clear processes to ensure your products meet safety standards, comply with labeling or packaging rules where applicable, and have a plan in place to manage recalls if a safety issue ever arises.
For everyday operations, you’ll need to cover health and safety, as well as permits and registrations. In practice, that means meeting product safety obligations and obtaining workers’ compensation coverage through the Quebec CNESST. You’ll also need the essential business permits and registrations, such as a business licence and the necessary enterprise registrations with Quebec (the Registraire des entreprises), plus a Business Number (BN) for tax and government purposes. Some wholesale operations may involve additional steps like Partnerships or Quebec Corporation Registration, and for cross-border activity you might need an Import/Export Business Number. Payroll tasks and sales tax considerations (GST/HST and related provincial taxes) also come into play as you grow.
From a regulatory and tax perspective, you’ll want to align your registrations and numbers: ensure your BN, NEQ (Quebec Enterprise Number), and REQ (Quebec Business Registration) are in place, and prepare for GST/HST registration as appropriate. If you have employees, you’ll handle Payroll Deductions and CNESST requirements. For importing or exporting goods, the Import/Export Number will be part of your setup. In short, getting these registrations and tax numbers right upfront will smooth your operations and keep you compliant as you scale.
Ready to move forward? Start by confirming Product Safety and Recall obligations are in place, then systematically secure CNESST coverage, licenses, and the Quebec registrations.
Detailed Requirements
Here are the specific requirements for starting a jewelry, watch, precious stone, and precious metal merchant wholesalers in Montreal:
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Product Safety and Recall Obligations RequiredWholesalers must ensure products meet Canadian safety standards and report serious incidents. Must participate in product recalls and maintain records for traceability. No registration - compliance law. Manufacturers/importers/sellers must ensure products are safe. MANDATORY REPORTING to Health Canada if: death/serious injury occurred or could occur, defects found, inadequate labeling, or recall in other jurisdiction. Keep records 6 years. Penalties: fines, seizure, criminal charges. Report incidents online or call 1-866-662-0666.
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Business Licence RequiredGeneral business licence required to operate a business in Ville de Montreal. Apply to Ville de Montréal 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 Ville de Montréal 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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Quebec Enterprise Number (NEQ) Registration RequiredRegistration of business with the Quebec Enterprise Registrar. Register with Registraire des entreprises du Québec: 1. Access quebec.ca/entreprises services 2. Complete declaration of registration online 3. Pay registration fee ($38 sole proprietorship, $367 corporation) 4. Receive NEQ (Numéro d'entreprise du Québec) Annual registration fee: $35 (exempt first 2 years). Annual update declaration required. 30-day deadline for changes.
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Quebec Business Registration (REQ - Registraire des entreprises) RequiredAll businesses operating in Quebec must register with the Registraire des entreprises du Québec (Quebec Enterprise Registrar). This includes sole proprietorships, partnerships, and corporations. Registration provides a Quebec Enterprise Number (NEQ) which is required for all business activities including banking, licensing, and tax purposes. Unlike other provinces, registration is mandatory for ALL businesses in Quebec, not just those with a business name different from the owner. Registration can be completed online. Annual declarations must be filed to keep the registration current. Register with Registraire des entreprises within 60 days of starting business. Required for sole proprietors operating under trade name, partnerships, and corporations. $39 for sole proprietorship, $60 for partnership. Receive NEQ (Quebec Enterprise Number).
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Partnership Registration ConditionalRequired if operating as partnership. Registration of general or limited partnerships in Quebec. Register partnership with Registraire des entreprises: 1. Complete declaration of registration 2. Provide partner information 3. Submit registration 4. Pay registration fee General and limited partnerships. NEQ assigned upon registration. Annual update declaration required.
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Import/Export Business Number ConditionalRequired for specific regulated activities. Wholesalers engaged in importing or exporting goods must register for an import/export account with Canada Border Services Agency (CBSA) in addition to their CRA Business Number. As of Oct 21, 2024, register RM account through CBSA's CARM Client Portal (not CRA). Need BN9 first - get via CARM or CRA's BRO. FREE registration. Required for importing/exporting commercial goods. Ensure all business names match exactly to avoid border delays. CBSA manages RM accounts; CRA issues BN9. Contact CBSA Border Information Service: 1-800-461-9999.
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Quebec Corporation Registration ConditionalRequired if incorporating in Quebec. Incorporation of a company under Quebec law. Incorporate through Registraire des entreprises: 1. Conduct name search (NUANS) 2. Prepare articles of incorporation 3. Submit through quebec.ca or registry office 4. Pay incorporation fee ($367) Annual reporting required. Must file annual update declaration. Federal incorporation alternative available ($200).
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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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Quebec CNESST Employer Registration (Workers Compensation) ConditionalRequired if you have employees in Quebec. Employers in Quebec must register with the CNESST (Commission des normes, de l'équité, de la santé et de la sécurité du travail) and maintain coverage for workers. CNESST provides insurance coverage for workplace injuries and occupational diseases under Quebec's workers' compensation system. Most employers are required to register within 60 days of hiring their first worker. Employers pay contributions (premiums) based on their business activity classification and assessable payroll. Register with CNESST within 60 days of hiring first employee. CNESST provides workplace health and safety coverage. Premium rates based on industry classification. Annual declaration of wages required by March 14.
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