Canada MSB Registration & Compliance (Licence)

We can help you obtain the Money Services Business registration in Canada and provide services including foreign exchange dealing, remitting or transmitting funds, issuing money orders and traveller's cheques, dealing in virtual currency, crowdfunding platform services, and cheque cashing services.

Connect with our Canadian MSB licence experts for tailored support.

Speak with Our MSB Licence Experts

Complete the form, and our experts will contact you within 24 hours. Alternatively, call us directly at 0207 866 2512.

Successful Licence Client Testimonial

"We highly recommend Buckingham Capital Consulting to any business seeking to obtain an MSB registration. Their team understood our specific business requirements and guided us through each regulatory requirement with clarity. The registration process was completed efficiently, and their ongoing compliance support has been instrumental in maintaining our operational standards. We are grateful for their practical expertise and professional approach."

Why Buckingham Capital Consulting: Trusted Experts in MSB Licencing

Expert Guidance Through Every Step of MSB Licence Application

Expertise from Trusted MSB Licence Experts

Our team of seasoned regulatory professionals has successfully guided hundreds of firms through the MSB licence process. We provide tailored solutions to ensure full compliance with all regulatory requirements.

Comprehensive MSB
Licence Services

We offer end-to-end MSB licence support, from initial consultation to final approval. Our streamlined process ensures efficient and fast-track service, with same-day consultations available.

Proven Success in MSB Licence Applications

With a track record of delivering timely, successful MSB licence projects, we provide flexible solutions and expert guidance. Our resources, including a free registration guide, help clients manage regulatory requirements with ease.

Our Service is Trusted by Leaders in Financial Services

Our Simple 3-Step MSB Licence Process

Step 1:
Assessment & Planning

We conduct a comprehensive assessment of your business model, determine MSB registration requirements, design your compliance framework, and prepare your application strategy.

Step 2:
Application & Documentation

We prepare all required documentation, submit your pre-registration and registration forms to FINTRAC, manage regulatory communications, and ensure compliance with all requirements.

Step 3:

Ongoing Compliance

We help implement your AML program, provide ongoing compliance support, assist with registration renewals, and ensure continuous regulatory adherence.

Expert MSB Licence & Compliance Services

Since 2013, we’ve guided several businesses through successful MSB licencing. Our fast-track, end-to-end support ensures a smooth, compliant, and efficient process from start to finish.

FINTRAC MSB registration

We help you prepare and submit FINTRAC MSB applications quickly and manage communication with FINTRAC.

Global MSB compliance services

We help international clients worldwide seeking to establish MSB operations and obtain regulatory compliance in Canada.

Ongoing compliance support

We provide ongoing compliance support to ensure your MSB operations meet all FINTRAC regulatory standards.

FINTRAC registration renewals

We ensure seamless registration renewals while meeting all regulatory requirements.

Our People

Our payment team of experts combine financial and regulatory experience to guide your business through FINTRAC and Canadian MSB licensing requirements.

When you work with us, you gain direct access to senior professionals who provide personalised, hands-on guidance throughout the entire MSB licensing process. We ensure your application is efficient, fully compliant, and aligned with the latest regulations, helping your business succeed with confidence.

Key information and requirements for the MSB licence in Canada

Key requirements

No Minimum Capital Requirement: Unlike many jurisdictions, Canada has no minimum capital requirement for MSB registration.
Compliance Program Implementation: Implementing a comprehensive AML/CFT compliance program before operations begin.
Management Body Requirements: The management team, particularly the compliance officer, must have good reputations and relevant qualifications.
Criminal Record Checks: Beneficial owners (20%+ ownership) must provide police record checks from competent authorities.
Compliance with National Requirements: Meeting the requirements set by FINTRAC for Canadian MSB registration.

Our services

Pre-Registration Assessment: We conduct a comprehensive assessment of your business model, determine MSB registration requirements, design your compliance framework, and prepare your application strategy.

Application Preparation & Submission: We prepare all required documentation, submit your pre-registration and registration forms to FINTRAC, manage regulatory communications, and ensure compliance with all requirements.

Compliance Program Development: We develop your AML/CFT policies, risk assessment procedures, transaction monitoring systems, and staff training programs to meet FINTRAC standards.

Post-Registration Support: We assist with ongoing compliance obligations, registration renewals, compliance effectiveness reviews, and legal updates.

Required Documentation

To apply for MSB registration, you will need to complete the pre-registration form and registration form, and submit evidence to FINTRAC. Buckingham Capital Consulting can prepare and manage these documents on your behalf to strengthen your application.

As part of your MSB registration application, you will need to prepare the following information:

Business Plan: Including financial forecasts for a period covering 3 years.
Programme of Operations: Detailed description of your MSB activities and services.
Business Organisation: Description of your organisational structure and management team.
No Initial Capital Evidence: While no minimum capital is required, provide evidence of business planning and financial preparedness.
Compliance Programme: Details on your AML/CFT compliance program and internal controls.
Security Incident Procedures: Methods for monitoring, handling, and following up on security incidents and complaints.
Data Protection Processes: Methods for managing and protecting sensitive customer and transaction data.
Business Continuity Measures: Plans for ensuring business continuity and operational resilience.
Risk Assessment Methodology: Methods for assessing and managing money laundering and terrorist financing risks.
Security Policy: Your business's security policies and procedures.
Financial Crime Policy: Internal mechanisms to comply with AML/CFT obligations.
Beneficial Ownership Information: Details of individuals owning or controlling 20% or more of the entity.
Outsourcing Arrangements: Details of any outsourcing arrangements and third-party service providers.
Management Team Information: Details of individuals responsible for managing your MSB, including the compliance officer.

Other important information

Physical Office Requirement: No physical office required at registration stage - only a legal Canadian address is necessary.
Compliance Officer Requirement: Must appoint a qualified compliance officer at registration who has oversight authority and relevant financial sector experience.
Registration Validity & Renewal: MSB registration is valid for 2 years and must be renewed to continue operations.
Criminal Record Requirements: Police record checks required for all beneficial owners (20%+ ownership) from competent authorities in countries of residence.
Operating Without Registration: Illegal to provide MSB services without FINTRAC registration - constitutes a criminal offense under PCMLTFA.
Bank of Canada Registration: May also require separate registration with Bank of Canada under Retail Payment Activities Act depending on payment services offered.
Compliance Program Timing: AML compliance program must be fully implemented before beginning operations, not after registration.
Agent Registration: All agents providing MSB services on your behalf must be separately registered with FINTRAC.