Start an Open-End Investment Fund in Vancouver: A Practical Guide
This page helps you plan and launch an Open-End Investment Fund in Vancouver (NAICS 525910). You’ll find a practical overview of what it takes to start, including 8 essential regulatory steps, the permits and registrations you’ll need, typical setup costs, and a realistic timeline from concept to launch. It’s designed to give you clear, actionable next steps so you can move forward with confidence.
Key learnings include choosing a fund structure (mutual fund corporation or trust) and identifying the core players you’ll need—a fund manager, a custodian, and an administrator. You’ll see the required filings and basic compliance program elements, plus how to prepare a prospectus or offering memorandum. We cover AML/KYC controls, distribution considerations, and ongoing reporting, along with a realistic cost picture (legal, filing fees, initial capitalization) and a practical 6–12 month timeline to readiness, depending on regulator review and your preparedness.
Vancouver’s strong financial services ecosystem, access to capital, and close-knit regulatory and advisory networks make this a smart place to launch an open-end fund. The city’s vibrant business climate and talent pool support steady growth as you scale across Western Canada.
Requirements Overview
The most critical requirement for operating a business in Vancouver is the Trust Company License. This license is legally required to conduct fund-management activities, and you cannot legally operate an open-end investment fund without it. Once you have that in place, you’ll also need several foundational registrations: a Business Number (BN) for federal tax interactions, a City of Vancouver Business Licence, and, if you’re operating as a sole proprietor or partnership, BC Business Name Registration.
Mandatory Operational Requirements: Health, safety, permits. Group related requirements to keep day-to-day running smooth: ensure workplace safety by obtaining WorkSafeBC coverage and registration; maintain compliance with anti-money laundering rules specific to securities; and secure the necessary permits such as the City of Vancouver business licence. If you hire staff, Payroll Deductions Registration will be needed, and GST/HST registration should be handled as part of your ongoing tax compliance.
Business Registration & Tax: Start with a Business Number (BN) from the Canada Revenue Agency and register your BC Business Name if you’re operating as a sole prop or partnership. Then set up GST/HST and Payroll Deductions, and align with both provincial and federal tax obligations. Having these numbers in place helps with smooth tax reporting, payroll, and vendor payments as you grow.
Encouragement: Take the next steps with a practical plan. Reach out to the BC regulator responsible for trust licenses to confirm the exact licensing path, and start your registrations with the CRA for BN, GST/HST, and payroll, as well as with the City of Vancouver and BC Registry. With clear milestones and steady progress, you’ll move confidently toward launching your fund.
Detailed Requirements
Here are the specific requirements for starting a open-end investment funds in Vancouver:
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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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Business Licence RequiredGeneral business licence required to operate a business in City of Vancouver. Apply to City of Vancouver 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 Vancouver Business Licensing for specific requirements. Home-based businesses may have different requirements. Annual renewal required.
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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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