How to Register for the IBA Program

An eligible corporation must register itself, and any specialists it employs, under the International Business Activity Act (the Act) to qualify for the International Business Activity (IBA) program.

To register for the IBA program, corporations must complete and submit an Application for Registration of a Corporation form (FIN 574) together with all applicable attachments. Please see How to Complete the Application for Registration of a Corporation 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.

A corporation will qualify for registration under the IBA 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 British Columbia
• it is not exempt from income tax under the Income Tax Act (British Columbia)
• it establishes and carries on an international business** within 90 days of registration
• it establishes and maintains a membership in the International Financial Centre British Columbia Society (IFC BC) within 90 days of registration under the IBA program
• it keeps its books and records in British Columbia
• it pays an application and registration fee of $5,000

*Permanent establishment has the same meaning as in section 400(2) of the Income Tax Regulations (Canada). The meaning of permanent establishment includes a fixed place of business.

** An international business of a corporation is one of the types of international businesses, carried on by the corporation through a fixed place of business in British Columbia. For more information see About international businesses.

The effective date for a corporation that meets the requirements noted above is the date that the Ministry of Finance determines the corporation has met the registration requirements. The registration date cannot be before the date the corporation applied for registration.

In addition to continuing to meet the requirements necessary for registration noted above, a corporation must also:

• continue to carry on an international business
• continue to maintain membership in the IFC BC
• continue to maintain a permanent establishment in British Columbia
• keep its books and records in British Columbia

Failure to meet these requirements could result in suspension or cancellation of the corporation’s registration and any specialists that it employs.

Where two or more corporations amalgamate and at least one* of the corporations was registered under the IBA program, the newly formed corporation must re-register within 90 days of the date of the amalgamation or within a later period, as approved by the Ministry of Finance.

To re-register for the IBA program after an amalgamation, corporations must complete and submit an Application for Registration of a Corporation form (FIN 574) and a Schedule A - Amalgamation (FIN 574A) with all applicable attachments.  Please see How to Complete the Application for Registration of a Corporation for assistance and our Forms page for all applicable forms and schedules.

Generally, the effective date of the registration will be the date of amalgamation.

* If two or more registrants amalgamate, the newly formed corporation is automatically registered, effective the date of amalgamation, upon proper notice of the amalgamation (see above).

Only a registered corporation may apply to register an employee as an IB specialist. Please see How to Register an IB Specialist for more information on the registration process, including the categories of IB specialists.

There is no fee for registering an IB specialist.

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