How to Start a Regina Sales Financing Business
This page gives you a practical starter guide to launching a 522220 Sales Financing business in Regina, Saskatchewan. Discover the 10 essential requirements you’ll need to meet, the permits and licenses to secure, and a realistic view of startup costs and the timeline from idea to first customer. You'll find clear, step-by-step actions tailored to Regina's regulatory landscape and community resources.
Key learnings include how to register the business, select a legal structure, and meet financial services regulations for lending, consumer protection, privacy, and fair dealing. You’ll map out the 10 requirements, identify permit needs, choose the right licenses, estimate ongoing costs (licensing, insurance, technology, accounting, and working capital), and understand a realistic timeline from incorporation through to launch and early operations in Regina.
Why Regina? A supportive municipal environment, access to local lenders and advisers, a growing small-business ecosystem, and available Regina-specific programs can speed you from concept to customers and long-term profitability.
Requirements Overview
In Regina, the first step is to obtain a Business Licence. This is a legal requirement to operate a business in Saskatchewan, and you cannot legally run a sales financing operation without it. Get this licence in place first and treat it as non-negotiable—without it you won’t be able to open doors, serve customers, or sign financing agreements. Once you have the licence, you can tackle the other registrations with clear priorities.
Operational readiness means getting the basics in place for day-to-day work and safety. If you have employees, you’ll need Saskatchewan WCB Employer Registration to cover workplace safety and injury claims. Decide your business structure now—whether you’ll operate as a partnership or as a Saskatchewan corporation—and complete the corresponding Partnership Registration or Saskatchewan Corporation Registration. Depending on how you set up and how you operate, you may also need Financial Institution Registration and FINTRAC Registration (Anti-Money Laundering) to stay compliant as a financing business.
For registration and tax numbers, you’ll want to lock in your Saskatchewan Business Name Registration (ISC) and your federal Business Number (BN) to handle taxes, accounts, and regulatory reporting. If you cross the GST threshold, register for GST/HST (in Saskatchewan you’ll be dealing with GST). If you have employees, set up Payroll Deductions Registration as part of your payroll compliance. And if you choose a corporate or partnership structure, complete the relevant Saskatchewan Corporate or Partnership Registration as part of your ongoing legal setup.
Next steps are practical and doable: gather the needed documents (proof of address, IDs, incorporation or partnership papers, and any existing tax registrations), map out a realistic timeline, and start submitting registrations one by one. Consider a quick chat with a local accountant or regulatory adviser to confirm which registrations apply to your exact business model and to avoid delay
Detailed Requirements
Here are the specific requirements for starting a sales financing in Regina:
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Business Licence RequiredGeneral business licence required to operate a business in City of Regina. Apply to City of Regina 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 Regina Business Licensing for specific requirements. Home-based businesses may have different requirements. Annual renewal required.
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Saskatchewan Business Name Registration (ISC) RequiredBusinesses in Saskatchewan operating under a name other than the owner's legal name must register with Corporate Registry. This applies to sole proprietorships, partnerships, and business names for corporations. Registration provides legal recognition and is required for business operations, banking, and licensing. Registration can be completed online through Corporate Registry. Business name registrations must be renewed every 5 years for sole proprietorships and partnerships. Register with ISC (Information Services Corporation) for business name. Required for sole proprietorships with trade name, partnerships. $65 registration fee, $60 renewal. Name reservation valid 90 days. Online registration also registers with Ministry of Finance and CRA.
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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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Partnership Registration ConditionalRequired for partnerships. Registration of partnerships in Saskatchewan. Register partnership with ISC: 1. Complete partnership registration form 2. Submit through ISC 3. Pay registration fees General and limited partnerships. Annual return may be required.
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Saskatchewan WCB Employer Registration ConditionalRequired if you have employees in Saskatchewan. Employers in Saskatchewan must register with the Workers' Compensation Board (WCB) and maintain coverage for workers. WCB provides insurance for workplace injuries and occupational diseases. Most employers are required to register, with some exceptions for specific industries and self-employed individuals. Registration should occur before hiring the first worker or commencing operations. Employers pay premiums based on their industry classification rate and assessable payroll. Register with Saskatchewan WCB for workers compensation coverage. Required for employers in mandatory industries. 2024 average premium rate $1.28 per $100 payroll. Maximum assessable earnings $104,531. Directors on T4 excluded from 2025.
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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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Saskatchewan Corporation Registration ConditionalRequired if incorporating in Saskatchewan. Incorporation of a company under Saskatchewan law. Incorporate through ISC Corporate Registry: 1. Conduct NUANS name search 2. Prepare articles of incorporation 3. Submit through ISC online or registry 4. Pay incorporation fees Annual return required. Federal incorporation is alternative option.
Funding & Grants
Available funding programs that may apply to your sales financing:
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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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