Launch an Other Direct Insurance Carrier in Moncton
This page walks you through how to start an Other Direct Insurance Carrier (excluding life, health, and medical) in Moncton. It offers a practical, step-by-step view from idea to licensed carrier, including the nine requirements, the permits you’ll need, typical startup costs, and a realistic timeline.
What you’ll learn includes the nine essential regulatory requirements to apply for a direct insurance license, the federal and provincial registrations and permits, upfront costs and ongoing fees, plus the steps to build a solid governance structure and business plan. You’ll also get a clear timeline from submission to launch so you can plan milestones and budgeting.
Why Moncton? This growing Atlantic Canada city combines business-friendly costs with access to key markets, a supportive regulator climate, and a talent pool in financial services and customer care — an ideal launchpad for insurance carriers looking to serve the region and beyond. Moncton’s community helps you connect with partners, customers, and services that keep your setup moving quickly.
Requirements Overview
The most critical requirement for operating a business in Moncton is FINTRAC Registration (Anti-Money Laundering). This registration is a legal obligation for entities handling funds or providing financial services, and you cannot legally operate without it. It’s non-negotiable and must be completed as a top priority before you start any insurance-related activities. Getting FINTRAC in place sets the foundation for compliant finance practices and helps you avoid costly penalties.
Next, think about the everyday operations and compliance basics. You will need a valid Business Licence from the City of Moncton to legally run a business within the municipality, and you should arrange New Brunswick WorkSafeNB Employer Coverage to keep your workplace safe and compliant for employees. These items relate to health, safety, and local permits that must be in place to operate smoothly. If you have partners or plan to form a corporation, ensure you understand how that structure affects registrations and ongoing obligations, even though these are separate from AML controls.
On the business-registration and tax side, you’ll handle several important numbers and registrations. A Business Number (BN) from the Canada Revenue Agency is essential for taxes, payroll, and import/export activities. If you’ll operate under a name other than your own, you’ll need New Brunswick Business Name Registration (SNB). Depending on your structure, you may need Partnership Registration or NB Corporation Registration. You’ll also handle GST/HST Registration if your taxable supplies exceed the threshold or if you expect to charge tax. Payroll Deductions Registration will be necessary if you have employees.
If you’re ready to move forward, take concrete next steps: confirm FINTRAC readiness and then secure the Moncton business licence and WorkSafeNB coverage. Set up your BN and SNB, decide on your business structure (partnership or NB corporation), and plan GST/HST and payroll setups as soon as you ha
Detailed Requirements
Here are the specific requirements for starting a other direct insurance (except life, health, and medical) carriers in Moncton:
-
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.
-
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).
-
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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%)
Ready to Launch Your Business?
Starting a business can be complex, but you don't have to do it alone. Our AI-powered business matcher can help you understand exactly what you need for your specific situation.
Try Our AI Business Matcher Get Expert Help
No credit card required • Takes 2 minutes
Browse Other Business Sectors
Explore business requirements in other industries: