Start Your Open-End Investment Fund in Moncton: A Practical Guide
This page provides a practical roadmap to launching an Open-End Investment Fund (NAICS 525910) in Moncton. It gives a clear overview of the 10 requirements you’ll need to meet, and explains the key permits, registrations, and approvals you’ll navigate with federal and provincial securities regulators. You’ll also find guidance on typical startup costs and a realistic timeline so you can plan with confidence.
You’ll walk away with a concrete, 10-point checklist covering the essentials: decide your fund structure; register or exempt-raise with the securities regulator; appoint a fund manager, administrator, and custodian; draft a prospectus and investment guidelines; establish distribution channels and compliance programs; and prepare for ongoing reporting, audits, and annual filings. We break down what each step entails, rough cost ranges, and the expected duration for each phase.
Moncton’s growing financial services scene, affordable operating costs, bilingual talent pool, and strong local business network make it an ideal base for a new open-end fund serving Atlantic Canada and beyond.
Requirements Overview
The most critical requirement for operating an open-end investment fund in Moncton is Business Licence. This is a legal prerequisite you must have before you start; without a valid municipal licence from the City of Moncton, you cannot legally run your fund. This requirement is non-negotiable—without it, you’re not allowed to operate at all.
Beyond the licence, you’ll need several operational safeguards to stay compliant and safe in everyday running. If your fund involves trust activities, you’ll likely need a Trust Company License. You also must follow Anti-Money Laundering (Securities) rules, so implement AML controls and reporting. Depending on how you set up the fund, you may need Partnership Registration or NB Corporation Registration, and you should arrange New Brunswick WorkSafeNB Employer Coverage to protect your team at work.
Business Registration & Tax: you’ll need a Canada Revenue Agency Business Number (BN) to handle taxes and payroll. If you’re using a distinct business name, register it with New Brunswick (SNB). Plan for GST/HST Registration if you cross the threshold or if you’re required to collect GST/HST in NB. If you hire employees, you’ll also handle Payroll Deductions Registration. If your structure is a New Brunswick corporation, complete NB Corporation Registration.
Encouragement: you’re taking important, doable steps. Start by confirming your municipal licence and then map out the other registrations with the help of regulators and a local adviser. Consider reaching out to the Financial and Consumer Services Commission of New Brunswick (FCNB) or a qualified compliance professional to build your timeline and a practical action plan. You’ve got this—steady progress now will pay off as you move toward launching your fund.
Detailed Requirements
Here are the specific requirements for starting a open-end investment funds in Moncton:
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Business Licence RequiredGeneral business licence required to operate a business in City of Moncton. Apply to City of Moncton 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 Moncton 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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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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New Brunswick Business Name Registration (SNB) RequiredBusinesses in New Brunswick must register their business name with Service New Brunswick if operating under a name other than the owner's legal name. This applies to sole proprietorships, partnerships, and trade names. Registration provides legal recognition and is required for business operations and licensing. Registration can be completed online through SNB Online. Business name registrations for sole proprietorships and partnerships must be renewed every 5 years. To register a business name in New Brunswick: 1. Conduct name search ($13.80) 2. Complete registration through SNB Online 3. Pay $112 registration fee (includes Royal Gazette) 4. Receive certificate of business name 5. Renew every 5 years ($62) 6. Report any changes as required
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Partnership Registration ConditionalRequired for partnerships. Registration of partnerships. Register through Province of New Brunswick Corporate Registry or business services: 1. Conduct name search if applicable 2. Complete registration application 3. Submit required documents 4. Pay registration fees Contact Province of New Brunswick government services for specific requirements and fees. Annual reporting may be required.
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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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NB Corporation Registration ConditionalRequired if incorporating in New Brunswick. Incorporation under NB law. Register through Province of New Brunswick Corporate Registry or business services: 1. Conduct name search if applicable 2. Complete registration application 3. Submit required documents 4. Pay registration fees Contact Province of New Brunswick government services for specific requirements and fees. Annual reporting may be required.
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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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New Brunswick WorkSafeNB Employer Coverage ConditionalRequired if you have employees in New Brunswick. Employers in New Brunswick must register with WorkSafeNB (Workplace Health, Safety and Compensation Commission) and maintain coverage for workers. WorkSafeNB provides insurance coverage for workplace injuries and occupational diseases. Most employers are required to register, with limited exceptions. Registration must occur within 10 days of commencing business operations or hiring the first worker. Employers pay assessments based on their classification unit rate and assessable payroll. To register with WorkSafeNB: 1. Determine if you're in a mandatory industry with 3+ workers 2. Register with WorkSafeNB online or by phone 3. Report assessable payroll annually 4. Pay premiums based on industry rate ($1.18/100 avg 2024) 5. Maintain coverage and report workplace injuries 6. Experience rating affects rate (+80% to -40%)
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