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Canadian MSB Registration For Payment Institutions
Professional support in financial and crypto licensing, legal compliance, and tailored solutions for fintech businesses.
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About MSB
Over 50 MSB projects are carried out to date.
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A Canadian MSB provides a strong regulatory framework recognized by financial institutions worldwide, enhancing credibility and trust for global operations. With oversight by FINTRAC and Bank of Canada, it facilitates access to international banking, payment processing, and remittance networks. Whether you're running a fintech, payment institution, or remittance business, a Canadian MSB can be a strategic asset for seamless cross-border transactions and financial services worldwide.
The Core MSB-permitted activities:
- Foreign Exchange Dealing – Exchanging one currency for another.
- Remittance & Money Transfers – Sending or receiving funds on behalf of individuals or businesses.
- Issuing or Redeeming Money Orders - Traveler’s Cheques, or Similar Instruments – Acting as an intermediary for alternative payment methods.
- Payment Service Provider (PSP) Activities – Facilitating financial transactions, including payment processing for businesses and merchants.
- Dealing in Virtual Currencies (Crypto Transactions) – Buying, selling, or facilitating the transfer of cryptocurrencies.
Key Advantages
Strong Regulatory Framework
Canada has a strong regulatory framework for financial services, which includes robust anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. This framework is designed to protect consumers and prevent financial crime.
Canada has a strong regulatory framework for financial services, which includes robust anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. This framework is designed to protect consumers and prevent financial crime.
Strong Regulatory Framework
English-Speaking Business Environment
Operating in a globally recognized language simplifies compliance, banking relationships, and international expansion.
No Minimum Capital Requirements
Unlike many other jurisdictions, Canada does not require share capital for MSB registration, making it an accessible and cost-effective licensing option.
Canada is known for its commitment to international standards and cooperation in the fight against financial crime. This reputation can be valuable for businesses that operate internationally.
International Reputation
There are no local ownership or directorship requirements, allowing international entrepreneurs full control of their MSB.
Non-Resident Executives Allowed
Operate your MSB from anywhere in the world without the need for a physical presence in Canada.
100% Remote Management
We provide ongoing assistance, including regulatory reporting, office search, compliance updates, accounting, and expert consultation for continued business success.
Full Post-Sales Operational Support
Obtain New MSB Registration
Comprehensive incorporation services in British Columbia, including company registration, preparation of FINTRAC compliance documentation, and submission of the MSB registration application to ensure full regulatory compliance. Be the first-hand owner of the company.
Timing: from 2-3 months
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- Free of charge due diligence of UBO/Executive Director
- Shareholders as physical persons
- Shareholders as legal entities (holding structure)
- Company registration (including name verification)
- Notarized registration documents
- Legal address (1 year)
- MSB Registration at FINTRAC
- Mail forwarding service (1 year)
- Legal Entity Identifier (LEI) & Non-Connected SWIFT Code
- Domain name, standard landing page, official email (1 year)
- Virtual Canadian mobile eSIM (1 year)
- Standard compliance policies package for FINTRAC
- Enhanced policies for application to Bank of Canada
- Standard business plan draft
- Technical assistance with application to Bank of Canada
- Support in sourcing a physical office in Canada
- Assistance in opening a bank account in an EMI institution
1 person
3 persons
Buy Company with Pre-Obtained MSB Registration
Transfer time: from 2-4 weeks
Acquire a fully registered MSB company for the fastest setup, with no prior operations, assets, or liabilities. The transfer process is seamless, efficient, and fully transparent. Managed and created by BMP Global with no intermediaries, ensuring a secure, hassle-free acquisition and full regulatory compliance.
Book a free meeting to learn more
Unlimited
- Legal address (1 year)
- Company registration (including name verification)
- Shareholders as legal entities (holding structure)
- Shareholders as physical persons
Professional
- Free of charge due diligence of UBO/Executive Director (3 persons)
- Shareholders as physical persons
- Shareholders as legal entities (holding structure)
- Company registration (including name verification)
- Domain name, standard landing page, official email (1 year)
- Enhanced policies for application to Bank of Canada
- Standard compliance policies package for FINTRAC
- Virtual Canadian mobile eSIM (1 year)
- Legal Entity Identifier (LEI) & Non-Connected SWIFT Code
- Mail forwarding service (1 year)
- MSB Registration at FINTRAC
- Legal address (1 year)
- Notarized registration documents
- Standard business plan draft
We offer various service packages for new MSB registrations, to match your specific needs:
Our Service Packages
- Free of charge due diligence of UBO/Executive Director (1 person)
- Shareholders as legal entities (holding structure)
- Legal address (1 year)
- MSB Registration at FINTRAC
Essentials
- Free of charge due diligence of UBO/Executive Director (Unlimited)
Premium
- Shareholders as physical persons
- Company registration (including name verification)
- Notarized registration documents
- MSB Registration at FINTRAC
- Mail forwarding service (1 year)
- Legal Entity Identifier (LEI) & Non-Connected SWIFT Code
- Domain name, standard landing page, official email (1 year)
- Virtual Canadian mobile eSIM (1 year)
- Standard compliance policies package for FINTRAC
- Enhanced policies for application to Bank of Canada
- Standard business plan draft
- Technical assistance with application to Bank of Canada
- Support in sourcing a physical office in Canada
- Technical assistance with application to Bank of Canada
- Support in sourcing a physical office in Canada
- Assistance in opening a bank account in an EMI institution
Not sure which one is for you?
Book a free meeting to learn more
Registration With The Bank Of Canada
The application to the Bank of Canada is a mandatory step under the Retail Payment Activities Act (RPAA), running in parallel with FINTRAC registration, not replacing it. MSBs must comply with both regulations, including safeguarding funds and updating policies, to avoid penalties exceeding 1 million CAD.
Who Must Register
All MSB-registered companies involved in any of the following business activities:
- Account Issuing: – Managing accounts that facilitate electronic fund transfers for users.
- Funds Holding: – Safeguarding user funds until they are withdrawn or transferred.
- Payment Remittance: – Starting electronic fund transfers upon user request.
- Authorization Services: – Authorizing or facilitating the execution of electronic payment instructions.
- Clearing and Settlement: – Providing services that support the clearing and settlement of payment transactions.
We offer comprehensive support for both MSBs acquired through us and externally registered MSB companies, ensuring full compliance and operational efficiency
- Authorization Services: Authorizing or facilitating the execution of electronic payment instructions.
- Payment Remittance: Starting electronic fund transfers upon user request.
- Funds Holding: Safeguarding user funds until they are withdrawn or transferred.
- Account Issuing: Managing accounts that facilitate electronic fund transfers for users.
- Clearing and Settlement: Providing services that support the clearing and settlement of payment transactions.
Our Key Services
Bank of Canada Application
Guidance through the mandatory registration process under the Retail Payment Activities Act (RPAA).
Ensuring your policies align with the latest regulatory requirements.
Compliance Policy Updates
Helping you secure a compliant physical office space if required.
Office Search Services
Assisting in establishing relationships with banks and payment institutions.
Banking Service Provider Connections
Stay compliant, streamline operations, and access the right financial infrastructure with our expert support.
Contact Us
To find out if you need to apply or receive more information.
VASP Malta
Offshore
VASP Bulgaria
VASP Czech
VASP Poland
VASP Georgia
VASP El Salvador
SRO Switzerland
Other Licensing And Solutions Options
Why Us?
Our team consists of financial consultants with extensive experience in banking and IT, specializing in FinTech for over 7 years. We have successfully completed a significant number of projects, making us well-equipped to handle any challenge in the industry.
Our team consists of financial consultants with extensive experience in banking and IT, specializing in FinTech for over 5 years.
7
Years of Experience
Licenses obtained
40
Years of Experience
7
10
Turn-key payment systems and digital banks created
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CONTACT US
Get in touch with us to inquire on our services.
+371 2811 4110
CONTACT US
Get in touch with us to inquire on our services.
+371 2811 4110
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