IFA program requirements include:

• Be incorporated in Canada
• Have a permanent establishment in BC *
• Be registered with the BC Ministry of Finance
• Maintain the company books and records in BC
• Carry on a qualifying international activity

* same meaning as in sec. 400(2) Income Tax Regulations (Canada)

Qualifying international activities include:

Financial

• Asset management, financial advice and research
• Insurance, including captives
• Administrative support services related to financial activities
• Treasury and cash management
• Factoring and collecting trade accounts

Non-Financial

• Head office management services
• Equipment and data back-up
• Life science and green-related patents
• Film distribution

One side of the transactions must be conducted with, for, or on behalf of a non-resident. Most arm's length and non-arm's length transactions qualify.

We also recommend the following links for companies interested in learning more about the IFA program.

International Financial Centre British Columbia (IFC BC)
IFC BC is a non-profit society with a mandate to promote international activities in British Columbia. This link provides comprehensive IFA program information including:

• registration requirements
• a description of qualifying activities and related case studies
• a discussion of BC's competitive advantages
• a list of companies operating under the IFA program

BC Ministry of Finance
The BC Ministry of Finance is the provincial government ministry which administers the IFA program.

International Financial Activity (IFA) Act - Overview
This BC Ministry of Finance information bulletin provides the legislative framework for the IFA program.