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MSB license in Canada
MSB license in Canada
MSB license is one of the most advantageous financial licenses in the world. Effective solution for providers of a wide range of payment services
FINTRAC
Issued and regulated by the Canadian Financial Transactions and Reports Analysis Center
PCMLTFA
Complies with the provisions of the Proceeds of Crime and Terrorist Financing Act
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The MSB license allows the provision of international payment services, including
- Cash transactions
- Foreign exchange transactions
- Money transfers
- Redemption and issuance of traveler's checks, implementation of bank commissions
- Cash-out
- Virtual currency exchange
- Crowdfunding platform services
Requirements for each key individual
- 01Certified copy of a valid passport
- 02Utility bill (not older than 3 months)
- 03Certificate of absence of criminal record
- 04CV / resume
- 05Apostilled/legalized power of attorney for company registration
Requirements for the company
- 01Compliance with KYC, record keeping and reporting rules
- 02There is no minimum start-up capital, but it is advisable to contribute a certain amount of authorized capital to demonstrate seriousness of intentions (recommended amount: from 10 000 EUR)
- 03Compliance program with the obligations and requirements of the PCMLTFA and related regulations
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Procedure for obtaining a license
- 01Company Registration in Canada
- 02Opening a bank (business) account in Canada and a work account (can be opened outside of Canada)
- 03Providing a detailed business plan
- 04Providing criminal record clearance certificate to the key person / compliance officer
- 05egistration with FINTRAC until full authorization is obtained
- 06Interview with FINTRAC representative
- 07Developing a full suite of policies and procedures: AML regulations, compliance program, KYC/KYB requirements, continuous monitoring requirements, transaction reporting requirements, compliance training program
BCA will help you do business abroad correctly
3 minutes
average response time to request
5 languages
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6 offices
worldwide
10 days
average service delivery time
Calculation of cost of services
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