Launch Your Other Activities Related to Real Estate Business in Burnaby
Welcome to your practical starter guide for launching a business in Burnaby under NAICS 531390 — Other Activities Related to Real Estate. This page gives a clear, actionable path to get funded and registered, including a five-item requirements overview, the permits you may need, typical startup costs, and a realistic timeline from idea to opening. It’s designed to be friendly and doable, so you can move forward with confidence rather than bogged down in red tape.
Here you’ll learn the five key requirements to start, plus the permits and registrations you should plan for. We’ll break down the costs—filing fees, insurance, software and marketing—and map a realistic timeline from initial paperwork to your first day in operation. You’ll leave with practical, week-by-week next steps to keep momentum and stay compliant in Burnaby.
Why Burnaby? A welcoming city near Vancouver with a growing real estate services scene, supportive small-business resources, and competitive costs, making it a smart place to launch your Other Activities Related to Real Estate business.
Requirements Overview
The most critical requirement for operating a business in Burnaby is the Business Number (BN) Registration. This BN is issued by the Canada Revenue Agency and you cannot legally start or run your business without it. It’s non-negotiable and essential for handling taxes, payroll, and dealings with government programs. Without a BN, you’ll encounter delays and compliance issues that can derail your plans.
Mandatory Operational Requirements: For health, safety, and day-to-day operations, WorkSafeBC Coverage and Registration is required. This protects workers and keeps you compliant if you have employees. If you hire staff, you’ll also need Payroll Deductions Registration to manage withholdings for income tax, Canada Pension Plan, and Employment Insurance. While specific local permits aren’t listed here, these safety and payroll obligations are the core operational requirements you’ll want to address up front.
Business Registration & Tax: In addition to the BN, you likely need BC Business Name Registration if you operate under a registered business name (Sole Proprietorship or Partnership). You may also need GST/HST Registration to handle sales tax, and Payroll Deductions Registration for employee payroll obligations. These numbers and registrations streamline reporting, invoicing, and compliance with federal and provincial rules.
Encouragement and next steps: Start with the official government portals to secure your BN, then move on to BC Business Name Registration and any applicable GST/HST and payroll registrations. If you’re unsure, consider a quick consult with a business advisor or an accountant who can tailor the steps to your real estate-related activities in Burnaby. With these foundations in place, you’ll be set to grow confidently and stay compliant.
Detailed Requirements
Here are the specific requirements for starting a other activities related to real estate 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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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 real estate:
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MLI Select is Canada Mortgage and Housing Corporation's multi-unit mortgage loan insurance product that uses a points-based scoring system to offer enhanced financing terms to borrowers who commit to affordability, accessibility, and/or energy-efficiency outcomes. Projects earn points across three pillars — affordability (rents at 30% of median regional renter income), …
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The Housing Accelerator Fund is a $4.4 billion CMHC initiative running to 2027–28 that provides non-repayable contributions to local governments. Funding is calculated per projected new housing unit enabled by the applicant's action plan, with per-unit amounts varying by housing type (approx. $12,000–$20,000+ per unit). Payments are delivered in four …
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$300M program that ran five competitive rounds (2019-2025) through Impact Canada and CMHC, each targeting different supply barriers. Round 5 (Level-Up, $65M) focused on transforming housing production at scale via skill enhancement, automation, and supply chain improvements. All five rounds are now completed with prize recipients announced.
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The $1.5B CHDP provides up to 100% of project costs via forgivable loans (up to 1/3 of costs, forgiven over 20 years) and repayable loans (up to 2/3 of costs, amortized up to 50 years at below-market rates). First intake ran July–September 2024; additional rounds planned through 2027. Third intake …
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The FLI is a $318.9M fund that makes surplus federal properties available to eligible housing providers at below-market or no cost. The level of discount depends on social outcomes committed to in the approved proposal. Over 90 properties are listed on the Canada Public Land Bank. Budget 2024 added $112.6M …
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