Empower Your Financial Services Venture with a Canada MSB License
Obtain an MSB License in Canada
When exploring financial opportunities in Canada, understanding the rules for Money Services Businesses (MSBs) is crucial.
National oversight is by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), with provincial licensing requirements established in Quebec and British Columbia and a developing open banking environment.
Canada is a business friendly jurisdiction, with clear guidance on multiple forms of payments entities including MSB's, PSP's and regulatory guidance on the crypto currency industry.
MSB registration in Canada provides a gateway to numerous benefits and opportunities for your new and established payments/Fintech entities.
MSB License Requirements:
- Business Information: Legal name, address, and type of business.
- Ownership Details: Information about key individuals in your business, including directors and owners.
- AML/KYC Programs: A description of your anti-money laundering and customer identification programs.
- Financial Statements: Depending on the size of your business, you may need to submit audited financial statements.
- Payment Processing Systems: Details about your money transfer, payment, or currency exchange systems.
Registered MSBs In Canada
Financial Transaction processed Annually
Canada as a domicile
In the fintech realm, Canada stands out as a welcoming hub for diverse enterprises across the nation. Renowned for its robust financial standards, this jurisdiction is a top choice for international businesses and investors. All MSBs eyeing Canada must register with FINTRAC.
- Political & social stability
- Strong geopolitical position with access to the entire US and Mexico markets
- High level of economic freedom
- Business-friendly regulatory environment
- Transparent and open market
- Highly skilled workforce
- Low corporate tax regime
- Sound legal system & the rule of law
- Low regulatory costs
- Use of English
- High level of transparency
- Excellent regulatory development of internet infrastructure
Highest GDP Growth in G7
Trade Agreement with 51 Countries
Canadian Age between 25 to 64
Spent to R&D yearly
Why Us
Expertise
Proactive Compliance
Local Approach
100% Success Rate
Representation
Entrepreneurial Insights
Our Journey
Happy Customers
Countries
Years of Experience
Success Rate
Our Process
Initial Conversation
Exploration of clients needs
Introduction of all products and services
Description of process, timelines and costs
Clarification of client queriesSetup Consultation
Client Identification request and review
Confirmation of Canadian corporation structure
Application Strategy
Translation of necessary documentsCompany Setup
Company Formation & Account Setup
Documentation Development
Company Name Search.
Incorporation of local entity.
Local Office Setup.
Compliance Program.Registration/License Application
Application Prep.
Management control interviews
Submission of Pre-registration
Submission of Self Assessment form
Completion of Pre-interview(if required)
MSB Registration Completion and
Document SubmissionPost submission support
FINTRAC follow-up and response.
Supplementary documentation review and
Submission.Application decision
Consultation on any specific questions
related to registration application
Appeal of decision(if applicable)
Simplify Compliance, Amplify Success: MSB Registration Unleashed!
