Start Your Surrey Credit Intermediation Business Today (NAICS 522390)
This page offers a practical blueprint for launching an Other Activities Related to Credit Intermediation business in Surrey, BC. You’ll get a clear overview of the eight requirements you must meet, plus the permits you may need, estimated startup costs, and a realistic timeline from setup to launch. It’s designed to help you move from idea to operation with actionable steps and no guesswork.
Across the eight requirements, you’ll learn exactly what to prepare, how to apply for licenses and permits, and where to find cost estimates and potential funding. We break down typical startup costs—registration, professional fees, insurance, and regulatory compliance—and outline a practical timeline so you can plan milestones and stay on track. You’ll also get practical checklists to keep you compliant and efficient as you grow.
Surrey’s growing business scene and its proximity to Vancouver make it a strong base for credit intermediation-related activities. With supportive local services, affordable space options, and a business-friendly environment, Surrey is a great place to start and scale your 522390 venture.
Requirements Overview
The most critical requirement for operating a business in Surrey is FINTRAC Registration (Anti-Money Laundering). This is a legal must for anyone involved in credit intermediation or handling financial transactions; without FINTRAC registration and a compliant AML program, you cannot legally offer these services. This is non-negotiable and non‑optional—getting FINTRAC set up correctly is the foundation of your business.
Mandatory Operational Requirements: Health, safety, permits. You’ll need WorkSafeBC Coverage and Registration to meet provincial health and safety rules and protect workers. You’ll also typically need a Business Licence from the City of Surrey to operate in the local area. These operational basics keep your shop compliant and open to customers, and they work alongside your AML obligations as ongoing requirements in daily practice.
Business Registration & Tax: The Business Number (BN) is your main government ID for dealing with taxes and programs. If you operate under a name other than your own, register your BC Business Name (Sole Proprietorship/Partnership). Plan for GST/HST Registration if your taxable sales reach or expect to exceed the threshold. If you have employees, you’ll also handle Payroll Deductions Registration with the CRA. These registrations and numbers keep your finances and reporting organized and compliant.
Encouragement: Start with the critically required items (FINTRAC) and then tackle registrations step by step. Use federal, provincial, and city portals to apply, set up reminders for renewals, and block out a realistic timeline. If you’d like, I can help map a practical, month-by-month plan to cross off each requirement without feeling overwhelmed. You’ve got this—guidance and next steps are here.
Detailed Requirements
Here are the specific requirements for starting a other activities related to credit intermediation in Surrey:
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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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Financial Institution Registration RequiredFinancial institutions must be registered/licensed with federal (OSFI) or provincial (FSRA) regulators depending on incorporation and services offered. OSFI regulates federally incorporated banks, trust companies, insurance companies. Bank Act, Trust and Loan Companies Act, Insurance Companies Act. Provincial alternatives for credit unions. Minimum capital requirements. Governance requirements. Contact OSFI: 1-800-385-8647.
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FINTRAC Registration (Anti-Money Laundering) RequiredFinancial services must register with FINTRAC and implement anti-money laundering and terrorist financing compliance programs. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Mandatory for: MSBs, casinos, real estate, securities, accountants, BC notaries. Register online. Compliance program required. Suspicious transaction reporting. Large cash reporting ($10K+). Keep records 5 years. Contact FINTRAC: 1-866-346-8722.
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Business Licence RequiredGeneral business licence required to operate a business in City of Surrey. Apply to City of Surrey 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 Surrey 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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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.
Funding & Grants
Available funding programs that may apply to your other activities related to credit intermediation:
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The Invest Nova Scotia Payroll Rebate is a negotiated incentive for knowledge-based companies creating at least 20 net new full-time positions in Nova Scotia. The rebate is 5–10% of eligible gross payroll, disbursed annually over a set period (typically up to 5 years), after audited confirmation of job creation. Eligible …
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