BMP offers Canadian MSB registration services that enhance your global credibility, enabling secure access to banking, payments, and cross-border financial networks.

Canadian MSB Registration for Payment Institutions

About MSB

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.

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.

Over 50 MSB projects are carried out to date.

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

International Reputation

No Minimum Capital Requirements

Non-Resident Executives Allowed

English-Speaking Business Environment

Key Advantages

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.

Unlike many other jurisdictions, Canada does not require share capital for MSB registration, making it an accessible and cost-effective licensing option.

There are no local ownership or directorship requirements, allowing international entrepreneurs full control of their MSB.

Operating in a globally recognized language simplifies compliance, banking relationships, and international expansion.

Global Operations Under MSB

A Canadian MSB allows businesses to facilitate international transactions, offering flexibility for fintech, remittance, and payment service providers.

Operate your MSB from anywhere in the world without the need for a physical presence in Canada.

100% Remote Management

Full Post-Sales Operational Support

We provide ongoing assistance, including regulatory reporting, office search, compliance updates, accounting, and expert consultation for continued business success.

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

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.

Buy Company with Pre-Obtained MSB Registration

3 persons

Professional

Unlimited

1 person

Premium

Essentials

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

Our service packages

We offer various service packages for new MSB registrations, to match your specific needs:

Not sure which one is for you?

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.

Registration with the Bank of Canada

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.

Guidance through the mandatory registration process under the Retail Payment Activities Act (RPAA).

Bank of Canada Application

Ensuring your policies align with the latest regulatory requirements.

Compliance Policy Updates

Office Search Services

Banking Service Provider Connections

Helping you secure a compliant physical office space if required.

Assisting in establishing relationships with banks and payment institutions.

Our Key Services:

Stay compliant, streamline operations, and access the right financial infrastructure with our expert support.

To find out if you need to apply or receive more information.

Get MSB Today

Other licensing and solution options

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