Canada MSB License
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crypto services
payment processing
money transfer
crowdfunding platform
WHY MSB IN CANADA
CANADA
Most favorable country for fintech and cryptocurrency activities
Low-cost
Multipurpose License
No strict substance requirements
Quick company formation and license obtaining process
Paid-in share capital
Requirements / Benefits
AML compliance
Local Employees
Local office
Police Clearance Certificate
Timing
not needed
basic
not needed
not needed
not needed
Local Director
not needed
1-2 months
canada
Estonia
UK
Malta
required
strict
needed
needed
needed
needed
3+ months
depends
very strict
needed
needed
needed
needed
3+ months
required
strict
needed
needed
needed
needed
3+ months
CANADA VS. OTHER COUNTRIES
Company registration in Canada
Our team registers a legal entity for you. We recommend the province of British Columbia for it as no local director and shareholder are required. Other provinces are also possible.
Drafting AML documents
We prepare Compliance Policies and Procedures specifically designed for your MSB, have an interview with the Canadian Regulator and complete the required license pre-registration form.
Preparation of MSB license application
We fill in the license application form and submit the documents to the Canadian Regulator. We assist in responding to the Regulator’s clarification requests.
WHAT WE DO
SERVICES
WHY WORK WITH US
merits
The Big 4 work experience
CPA and CIMA qualified experts with track record in Finance and Compliance
Quick setup & competitive costs
Customer-oriented approach
MSB LICENSE FOR CRYPTOCURRENCY BUSINESS
CRYPTO
Virtual currency exchange services:
1
fiat for virtual currency,
virtual currency for fiat
virtual currency for another virtual currency
2
3
Virtual currency transfer services:
1
transferring virtual currency at the request of a client
receiving a transfer of virtual currency for remittance to a beneficiary
2
OPEN YOUR LICENSED CRYPTOCURRENCY EXCHANGE to legally exchange services or trade in the financial market
MSB LICENSE FOR
PAYMENT SERVICE PROVIDER
psp
Merchant servicing & Payment processing
OPEN YOUR LICENSED PAYMENT SERVICE PROVIDER to legally arrange electronic funds transfers carried out as payment for the provision of goods
1
2
Serving businesses to accept payments from the customers
Payment processing service by accepting credit cards, debit cards, prepaid cards and other forms of electronic payment
MSB LICENSE FOR
GLOBAL PAYMENTS/FOREX PROVIDER
payment
Remitting or transmitting funds
OPEN YOUR LICENSED GLOBAL PAYMENTS/FOREX PROVIDER to legally provide the service of money transfers and forex exchange globally.
Foreign exchange dealing
1
2
Providing businesses and individuals with service of funds transfers (regardless of amount) from a sender in one country to a beneficiary in another country.
Payment processing service by accepting credit cards, debit cards, prepaid cards and other forms of electronic payment
1
Conducting transactions where exchanging one type of currency for another (for example, exchanging USD for EUR)
MSB LICENSE FOR
CROWDFUNDING BUSINESS
fund
Crowdfunding platform
A website or an application or other software that is used to raise funds or virtual currency.
OPEN YOUR LICENSED GLOBAL PAYMENTS/FOREX PROVIDER to legally provide the service of money transfers and forex exchange globally.
Crowdfunding platform services
1
The provision and maintenance of a crowdfunding platform for use by other persons or entities
1
If you want an assessment of your case, I will personally take care of it.
Please book for a free consultation with me
FREE CONSULTATION SIGNUP
Dennis Kryvablotski
Partner
Business & Compliance OÜ
Partner
Business & Compliance OÜ
FAQ
INFO
The average time it takes to go through the entire process from setting up the company in Canada and receiving MSB license is 1-2 months.
Most Canadian provinces and the Canadian federal government require a corporation to have at least one director who is a permanent resident or Canadian citizen. However, in British Columbia or Ontario there is no citizenship or residency requirement. Many international entrepreneurs choose to incorporate in these provinces because they don’t need to partner with a Canadian director.
Canada AML legislation does not prescribe who must be appointed as the compliance officer nor the manner in which they are appointed. As such, so long as MSB appoints a person (it does not mean to be obligatory a resident of Canada) responsible for the effective implementation of the compliance program, then MSB may appoint a person outside of their business as its compliance officer and this person should not obligatory be a Canadian resident. We can assist your MSB in its day-to-day compliance needs by providing an outsourced Compliance Officer service.
Yes, so long as the director could effectively implement the compliance program in MSB, then the director may act as its Compliance Officer. Otherwise, MSB may appoint another person in the company or even outsource the role of compliance officer. We can assist your MSB in its day-to-day compliance needs by providing an outsourced Compliance Officer service.
Yes, we prepare a comprehensive Business plan as well as draft a Compliance Policies and Procedures specifically designed for your business in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and other associated Regulations of Canada.
There is no specific amount of start-up share capital set for obtaining MSB license in Canada.
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