500000 +
Happy Customer
500 +
CA & Lawyers
50 +
OfficesMSB license in Canada is a regulatory requirement for companies engaged in digital asset activities, currency exchange, electronic money transfer, and payment processing. With economic stability, a business-friendly environment, and a fast-growing fintech industry, Canada is the world's leading merger and acquisition market. Let Enterslice help you secure FinTRAC MSB registration in Canada. With our expert guidance, you can incorporate your business, establish a physical presence, register a brand of your foreign company, frame AML and KYC policies, and open a corporate bank. At Enterslice, we will help you appoint a compliance officer and fulfill your annual compliance obligations and reporting. 25% Rise in FinTRAC MSB Registrations in Canada Over CAD 3 Trillion in Cross-border Transactions Our associates will assist you in securing a money service business registration in Canada with Enterslice- get a 40% discount on our packages. The types of businesses eligible for a Canada MSB license are as follows: Exchanging currency of one foreign jurisdiction to another, such as the conversion of Indian Rupees for Canadian Dollars. This business activity involves the transmission and remitting of funds from one natural/artificial entity to another via an online (electronic) transfer network. Issuing instruments, including traveler’s cheques, money orders, or related negotiable instruments via an MSB license in Canada. Digital currency also known as virtual currency exchange and transfer services. Such services include funds for digital assets/currency, digital currency for another type of currency, and currency for funds. A platform service that allows individuals and companies to raise capital and virtual assets/currency. Take Enterslice’s help to understand how to obtain an MSB license in Canada: Our consultants will provide you with insights on what type of license you should register in Canada. There are two types, namely local Canadian and foreign-based MSB registration. Registering can be done at two levels, one at the federal level with the Corporations Canada and the provincial one with their respective authority. We’ll gather documents like basic incorporation certificate, MOA, AOA, AML-KYC written policies, business plan, financial projections, ID proofs of all directors and management. Our associates will submit the application with supporting documents to FINTRAC. The authority will track your application to check if it meets all the compliance requirements and mandates. Our consultants will be in constant touch with the authority to ensure all the queries are answered in time to streamline the process of FinTRAC MSB registration in Canada. The FINTRAC will issue the certificate of MSB license in Canada, officially authorizing you to start your business operations. The standard schedule for obtaining the Canada MSB license is three to six months. The realistic timeline is as follows: Prepare and submit documents for company registration in Canada with the concerned authority either at the Federal or Provincial level. Conduct criminal background checks on directors and other top-level management and establish the FINTRAC-mandated compliance system. Filing of a pre-registration request with the authority to obtain the registration form. File the application with the Financial Transactions and Report Analysis Centre of Canada with supporting documents. The federal authority will examine your application and approve your MSB registration in Canada. This timeline depends on the completeness of your documentation for MSB license in Canada. After the successful examination, you’ll receive the Canada MSB license number, and your company will subsequently be listed on the registry. The documents required for an MSB license in Canada are as follows: Application form Passport of the applicant, director, and promoter A copy of the company registration certificate Business Number (BN) Social Insurance Number (SIN) Well-drafted business plan Anti-Money Laundering (AML) Know Your Customer (KYC) Registered business address Organizational structure of the company Before proceeding with company formation in Sri Lanka, consider selecting the proper business structure based on your goals and preferences. Ensure the desired company name is available on the Department of Registrar of Companies (RoC) website. While 100% foreign ownership is generally allowed for company registration in Sri Lanka, check for sector-specific restrictions. Gather necessary identification and address proofs for directors and shareholders, and submit required forms like Company Registration (Form 1) and Consent and Certificate of Director (Form 18). After your company is verified, the Certificate of company registration in Sri Lanka will be issued. You must also fulfil public notice obligations and obtain a Tax Identification Number (TIN) from the Inland Revenue Department. 30% Corporate Tax Round-the-clock Support No Need to Visit Govt Office Funding Opportunities The key benefits of MSB registration in Canada include compliance, customer recognition, simplified registration process, fewer investment mandates, and wide-range of services. You cannot operate as a money service business without obtaining a MSB license in Canada from FINTRAC. A legal permit demonstrates your compliance with the Canadian government and enhances your brand image amongst investors and creditors after obtaining an MSB license in Canada. The process of company formation in Sri Lanka is straightforward. Steps like name reservation and document submission ensure quick and efficient incorporation. Unlike European jurisdictions, Canada does not have any minimum capital requirement mandated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Giving you a flexible fund option- meaning you can start with whatever investment you can. Once you obtain an MSB registration in Canada, you can offer a variety of services, including virtual currency, payment processing, electronic transfer, and crowdfunding. With an MSB license in Canada, you can establish yourself in the international business market, increasing your customer market. Continuous and compliance with Anti-Money Laundering and CFT protocols showcases a company’s adherence to Canada’s laws and regulations, enhancing your creditworthiness in the local business community and with customers. The criteria for money services business registration in Canada are as follows: Our Enterslice’s consultants will assist you in fulfilling the compliance requirements for MSB license in Canada are as follows: Enterslice has a proven track record of over 10+ years in providing compliance support to thousands of businesses internationally. Given below are the key reasons for trusting Enterslice for money service business registration in Canada- A Canadian MSB license is a compulsory registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). It enables companies to provide money transfer, currency exchange, and cryptocurrency services to Canadian and international clients. Our services for money service business registration in Canada include the following: The procedure for money services business registration in Canada is as follows: The list of documentation requirements for the Canada MSB license: The issues that you may face during the MSB license for money services business operations include the following: Yes, if you’re planning to setup a local Canadian MSB, then you require a physical address. Businesses seeking foreign MSBs don’t have to register a physical address, provided they don’t cater to Canadian clients. If you miss a deadline, then your business will be stopped for a period of 60 days and levied penalties. Yes, you can provide your services to foreigners, provided they come to you of their own accord. In no way are you allowed to solicit your services to global businesses and individuals. The regulatory authorities may impose a fine of USD 250,000 which may go up to USD 500,000. Further, the federal authorities may impose an imprisonment of up to 5 years. The list of businesses engaged in MSB business includes the following: The average time for money services business registration in Canada is 3 to 6 months, provided the paper work and application is complete for the MSB license in Canada.What is MSB License in Canada
Money Service Business Registration in Canada with Enterslice
Which are the Businesses Eligible for Canada MSB license?
Multiple Currency Exchange Dealer
Fund Transmitting Services
Financial Instrument Services
Digital Currency Services
Crowdfunding Services
How to Obtain an MSB License in Canada?
Pre-Filing Discussion
Business Registration
Document Preparation
Application Filing
Review by FINTRAC
Grant of MSB License in Canada
How Much Time It Takes to Get a Canada MSB license?
Company Registration (Initial): 1 Week
Strategize and Organize AML-KYC Compliance: 2 to 7 Weeks
Pre-Submission with FINTRAC Authority- 1 Day
Application Submission: 1 to 2 Days
Evaluation: 8 to 16 Weeks
Final Grant of Authorization: Immediate Post Approval
What are the Mandatory Documents for MSB License in Canada?
Things to Consider Before Company Formation in Sri Lanka
What are the Benefits of MSB Registration in Canada?
Regulatory Compliance
Simplified processes for company formation
No Minimum Capital Requirement
Wide Scope of Services
Global Business Expansion
Increased Trust
Criteria for Money Services Business Registration in Canada
What are the Compliances for MSB License in Canada?
Why Trust Enterslice for Money Service Business Registration in Canada?
Frequently Asked Questions on MSB License in Canada
-- Testimonials
βEnterslice and Its team made starting my company and running very easy. Their contribution in raising funds was immense. I highly recommend Enterslice to any one who wants to start a business in India. Thank you guys keep up the good work.β
CEO - Solarix
βVery professional services. I am highly impressed by their courteous and client oriented attitude.β
F Salon Paris
βThanks for your services. The team is really professional. They make sure that things are delivered in time. The best part about Enterslice is the consultative approach and guiding us on all our business matters.β
Haiden Group - UAE
βI would like to thank the Enterslice team for the excellent business plan made by them. They understood our requirement and gave us exactly what we wanted. Thank you Team Enterslice.β
βI have registered my Trademark through them. The application was filed within 3 days. And the charges were also very reasonable. We got TM Approved in 6 monthβs time without any re-submission or objection. They charge high to deliver the best in industry.β
βThey provided customized and Highly skilled CA &services. The management invests themselves in your work. They ensured timely NBFC registration and are always ready and prepared with excellent advisory services. The best part of working with Enterslice is they are not having expertise of law but they are well versed with Digital marketing skills &fintech business model.β
βGreat set of people working together. Very customer friendly. I am very satisfied with the food license registration services and will definitely come back for other similar requirements.β
βI came to know about Enterslice through a friend. Since then I have done GST Registration through them. The services are consumer centric and fast. I have recommended them to many of my acquaintance already.β
βI chose Enterslice to start my new Indian adventure as entrepreneur, and respect my past experience i was surprised by their professionalism. In particular, Raksha T. followed my startup process, and i was delighted with her support on every moment. Great, great experience.β
βAmazing services provided by your organization. They have completed our NBFC registration order within stipulated time period of 90 days. They provide constant guidance and support in the process. Their support in building fintech software is amazing.β
Stay updated with all the latest legal updates.
Just enter your email address and subscribe for free!
(+1) 6292766228