Launch an Office of Other Holding Companies in Burnaby Today
Welcome to your practical, step-by-step guide for launching an Office of Other Holding Companies in Burnaby. This page is built for NAICS 551112 and gives you a clear path from concept to compliant operation. You'll find a straightforward overview of the five regulatory requirements, the permits you may need, estimated start-up costs, and a realistic timeline so you can plan with confidence.
What you'll learn: a concise breakdown of the five regulatory requirements, the specific documents to prepare (articles of incorporation or registration, corporate bylaws, directors and addresses), where to file (BC Corporate Registry, CRA registrations), and typical fees. We'll outline a practical cost range, plus processing times and steps to keep approvals moving—from initial filing to opening.
Why Burnaby: This city combines a strong business climate with easy access to Vancouver's talent pool, affordable office options, and excellent transport links. For holding companies, Burnaby offers a supportive local ecosystem, nearby professional services, and a cost-friendly landscape that helps you launch responsibly and scale smoothly.
Requirements Overview
The most critical requirement for operating a business in Burnaby is obtaining a Business Number (BN) Registration. This is a federal requirement managed by the Canada Revenue Agency, and you cannot legally operate a business in Canada without a BN. A BN lets you handle all the essential tax accounts—GST/HST, payroll deductions, corporate taxes, and other dealings with the CRA—under one identifier. Getting a BN early keeps you compliant and avoids delays when you’re invoicing clients, paying employees, or filing returns.
Moving into day-to-day operations, focus on health and safety and any permits you might need. The primary obligation in British Columbia is WorkSafeBC coverage: you’ll need to open a WorkSafeBC account, remit premiums based on wages, and maintain a safe workplace with proper training and reporting. This is non-negotiable for employers. Depending on your exact business activities, there may be additional local permits or licensing requirements in Burnaby, so it’s worth checking municipal rules to ensure you’re fully compliant.
From a registration and tax perspective, you’ll also need BC Business Name Registration if you’re operating as a sole proprietorship or partnership under a name other than your own. For taxes, register for GST/HST if your taxable supplies meet or exceed the threshold (currently $30,000 in a calendar quarter or over four consecutive quarters), and you’ll likely need Payroll Deductions Registration with the CRA if you have employees. These registrations work together with your BN and your business structure, so plan to complete them as your business plans take shape.
Next steps? Gather your basics (business structure, intended services, number of employees), then start the registrations: apply for your BN with the CRA, register your BC business name if needed, set up GST/HST and payroll accounts, and open your WorkSafeBC coverage. If you’re unsure about the specifics, consider a quick consult with a business advisor or regulat
Detailed Requirements
Here are the specific requirements for starting a offices of other holding companies in Burnaby:
-
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).
-
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.
-
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.
-
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.
-
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.
Ready to Launch Your Business?
Starting a business can be complex, but you don't have to do it alone. Our AI-powered business matcher can help you understand exactly what you need for your specific situation.
Try Our AI Business Matcher Get Expert Help
No credit card required • Takes 2 minutes
Browse Other Business Sectors
Explore business requirements in other industries: