How to Register for the IFA Program

To register for the IFA program, corporations must complete and submit an Application for Registration of a Corporation form (FIN 574) together with all applicable attachments. Please see the Guide to Filling out the Application for Registration of a Corporation (FIN 574G) for assistance with the registration form, and our Forms page for all applicable forms and schedules.

The application must include a cheque or money order in the amount of $5,000 made payable to the Minister of Finance. If the corporation is refused registration under the Act, we will refund $4,000.

Forms and attachments (including payment) should be sent to:

Please see the Make a Payment section for information on paying overdue International Financial Activity fees.

A corporation will qualify for registration under the IFA program if it meets the following criteria:

• it was incorporated in Canada and since incorporation it has not been continued outside of Canada (i.e. transferred or immigrated)
• it has a permanent establishment in B.C.
• it is not exempt from income tax under the Income Tax Act
• it establishes and carries on an International Financial Business (IFB)* within 90 days of registration
• it establishes and maintains a membership in the International Financial Centre British Columbia Society within 90 days of registration under the IFA program
• it keeps its books and records in B.C.
• it pays an application and registration fee of $5,000

*An International Financial Business (IFB) of a corporation is a business, or part of a business, that carries on qualified international financial activities. The IFB must be part of an active business and carried on through a fixed place of business in British Columbia.

For a list of qualifying international financial activities, please see Bulletins IFA 001, International Financial Activity Act Overview and IFA 002, Life Science Patents.

A registered corporation may apply to register an employee as an IFA specialist. Please see the Registration page under Individuals > Income Taxes > International Financial Activity.

An employee can be an IFA specialist for only five years from the date he or she is first registered.