About Money Services Business (MSB)

Our services for Money Services Businesses registration in Canada

If you are looking to register a Money services business (MSB) or Foreign Money Services Business (FMSB) in Canada, Advapay can offer you its legal, technical and business expertise and consulting support.

PRICING:

•    Option A — Standalone FINTRAC Registration: €13,999 Base Setup, including banking facility (~circa 6 Months Turnaround)

•    Option B — Full Turnkey Neobank (FINTRAC MSB + EBANQ Software): €30,999 Total Package (€13,999 MSB + €17,000 EBANQ). NOTE: Software deployment is configured and launched upon completion of regulatory licensing.

MSB Registration

01

Incorporating a company in Canada

02

Developing a regulatory business description

03

Completing application forms and finalizing the submission

04

Responding to clarification requests from the regulator

Preparation of custom compliance policies

AML-CTF Policies & Procedures

Risk Assessment

Anti-Bribery & Corruption Policy

Sanctions Policy

Risk Appetite

Other as required

Opening Accounts and Compliance

Preparation of custom program of operations, business plan, financial forecast to open accounts in financial institutions



  • Making intros to banks
  • Support in filling in the documents
  • Responding to clarification requests
  • Appointing a local compliance officer

Representing the company in communication with the regulator and banking partners
  • Writing reports and submitting them to regulator
  • Keeping the compliance program up-to-date
The procedure of obtaining a permission to perform Money services

Step 1 – Incorporating a company in Canada.

Step 2 – Completing FINTRAC pre-registration form and receiving access to the online MSB registration system.



Step 3 – Submitting the MSB registration form and required documents.

Get Started with a Canadian MSB

Looking for help? Get in touch with us