Launch an Open-End Investment Fund in Burnaby Today
This page offers a practical, step-by-step guide to starting an Open-End Investment Fund in Burnaby under NAICS 525910. It provides a concise overview of the seven requirements you must meet, plus the permits and registrations you’ll need, typical start-up costs, and a realistic timeline from formation to market launch. Use this roadmap to move confidently from idea to compliant operation.
What you’ll learn: the seven requirements in plain language, what regulators expect, and how to structure governance and reporting. You’ll get a clear view of essential permits and registrations, the types of service providers you’ll work with (auditors, fund administrators, lawyers), and cost ranges—setup and ongoing. You’ll also walk through a practical, step-by-step timeline, so you know when to file filings and when to bring in partners.
Burnaby combines proximity to Vancouver’s market, a deep talent pool in finance and professional services, strong infrastructure, and a business-friendly climate. It’s a smart base for open-end funds looking to grow in Canada.
Requirements Overview
The most critical requirement for operating a business in Burnaby is Business Number (BN) Registration. This unique identifier is issued by the Canada Revenue Agency and is used for taxes, payroll, and dealings with regulators. You cannot legally operate a fund or most kinds of businesses here without a BN, and banks, regulators, and counterparties will expect you to have one before doing business. Secure your BN early so you avoid delays and non-compliance later.
Mandatory Operational Requirements: You’ll need solid compliance and safety steps in place. Anti-Money Laundering (Securities) requirements mean you must have processes for client due diligence and reporting as applicable to securities activities. If you hire staff, you’ll handle payroll deductions and register for the appropriate tax accounts, and you must maintain WorkSafeBC coverage for your employees. Depending on your structure, you may also need a Trust Company License if your fund operations fall under the trust company regime. These pieces are non-negotiable for legitimate, regulated fund activity.
Business Registration & Tax: In British Columbia, you may need BC Business Name Registration if you plan to operate under a name other than your own (Sole Proprietorship/Partnership). You’ll also ensure your BN is linked to your broader tax registrations and, if applicable, complete GST/HST registration to collect and remit taxes on eligible transactions. Keeping these registrations current helps you stay compliant as your fund grows and changes.
Encouragement: This is a clear, step-by-step path, and you don’t have to do it alone. Start by securing your BN, then map out AML procedures, WorkSafeBC coverage, and payroll/GST registrations. Consider consulting a regulatory advisor or lawyer with experience in Canadian investment funds to tailor the plan to your exact fund structure and timeline. With focused steps and the right help, you’ll move from planning to compliant operation with confidence.
Detailed Requirements
Here are the specific requirements for starting a open-end investment funds 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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Trust Company License RequiredTrust companies must be licensed by federal (OSFI) or provincial regulators and comply with fiduciary standards, capital requirements, and trust administration rules. OSFI Trust and Loan Companies Act licensing. Federal trust company charter. Capital requirements. Contact OSFI: 1-800-385-8647.
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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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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.
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