Money Services Business Licence — Canada
Fastest MSB registration globally. FINTRAC regulated. Capital from No requirement. Typical timeline 6–8 weeks.
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Why Canada for Your Money Services Business Licence?
Canada offers speed, simplicity, and access to a growing fintech market with proximity to the United States.
FINTRAC registration is one of the fastest MSB registration processes globally. Canada has positioned itself as an accessible market for money services businesses.
Licence Requirements
Detailed Requirements
No minimum capital requirement. Comprehensive AML/CFT compliance programme required. Firms must appoint a compliance officer.
Application Process
Regulatory Strategy
We assess your business model and regulatory position to develop a clear licensing strategy.
Business Plan
We prepare a comprehensive business plan meeting the regulator's expectations.
Programme of Operations
Detailed programme of operations covering governance, compliance, and operational arrangements.
Compliance Framework
Full AML/CFT framework, compliance monitoring programme, and risk management policies.
Application Submission
We compile and submit the complete application package to the regulator.
Regulator Review
We manage all regulator communications and information requests during the review period.
Authorisation
Upon approval, we support your transition to live operations.
Process Detail
6 to 8 weeks from submission to registration.
Canada vs United Kingdom
| Criteria | Canada | United Kingdom |
|---|---|---|
| Capital | No requirement | No requirement |
| Timeline | 6–8 weeks | 1–3 months |
| Regulator | FINTRAC | HMRC |
| Key Feature | Fastest MSB registration globally | Straightforward registration, AML focus |
Frequently Asked Questions
The capital requirement for a money services business licence in Canada is No requirement. No minimum capital requirement. Comprehensive AML/CFT compliance programme required. Firms must appoint a compliance officer.
The typical timeline for a money services business licence in Canada is 6–8 weeks. 6 to 8 weeks from submission to registration.
Canada offers speed, simplicity, and access to a growing fintech market with proximity to the United States.
After receiving your money services business licence in Canada, you must maintain ongoing compliance with regulatory requirements including safeguarding of customer funds, regular regulatory reporting, maintaining adequate capital, updating AML and compliance frameworks, and cooperating with supervisory reviews and inspections.
Most jurisdictions require local substance for a money services business licence. In Canada, you will typically need a registered office, at least one locally resident director, and potentially additional operational staff. We can advise on the exact requirements and help you establish the minimum viable local presence.
A money services business licence in Canada provides access to the domestic market. Fastest MSB registration globally. Separate authorisation may be required for other jurisdictions.