Get Your MSB Registration in Canada - Fast, Compliant, Stress-Free

100% tailored for fintech & crypto businesses
Experienced in licensing, compliance, and banking setup
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We help fintech, payment and crypto companies register as a Money Services Business (MSB) with FINTRAC, giving you the legal foundation, banking access, and credibility you need to grow internationally.

What is a Money Services Business (MSB) in Canada?

An MSB license is a mandatory registration with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) for companies that provide financial services.

Without this MSB authorization, it's not possible to legally operate payment, remittance, or crypto-related businesses in Canada and worldwide.

By obtaining an MSB license, your company not only becomes compliant with Canadian law but also gains credibility with banks, investors, and partners – opening the door to international growth.

Regulatory requirements and compliance standards.
Understanding financial crime prevention and risk management strategies.
Implementing effective AML (Anti-Money Laundering) procedures.
Developing robust operational frameworks and governance structures.
Applying for MSB registration encompasses a range of critical activities including regulatory compliance.
Canadian regulations, risk assessment, and the implementation of effective AML strategies.

Why Choose Us for Your MSB Registration?

Applying for MSB registration is more than forms - it takes deep knowledge of Canadian regulations, compliance frameworks, and the fintech ecosystem. We support fintech and crypto companies end‑to‑end: incorporation, AML program drafting, FINTRAC filing, and banking setup.

With us, you get transparent guidance, predictable costs, and hands-on support from experts who have already helped dozens of international startups succeed not only in the Canadian market.

All-in-One

From company setup to registration approval.

Quick Start

We launch your application within days.

Compliance Expertise

Tailored AML/KYC for fintech & crypto.

Global Perspective

Banking, BaaS, and partner connections.

The Key Benefits of MSB Registration in Canada

Banking Access

Improve readiness for bank & PSP onboarding.

Credibility & Trust

Win confidence from partners and investors.

International Recognition

Operate globally with stronger positioning.

New Opportunities

Offer remittance, FX, and crypto services legally.

Regulatory Compliance

Meet FINTRAC AML/KYC obligations.

Scalable Growth

Expand with a solid legal foundation.

EMI - EU

MSB - Canada

MiCA / CASP - EU Crypto

€350k+

Capital

No minimum

€50-150k

Starting from 12 months

Setup time

Starting from 4 months

Starting from 12 months

Local office & team needed

Local office/staff

Not required

Country presence needed

E-money & payments only

Scope

Payments + Crypto services + Crowdfunding

Crypto services only

Heavy reporting & audits

Compliance

Light (focus on AML)

Strict EU crypto rules

Crypto excluded (needs separate license)

Crypto rules

Friendly (tokens are allowed, wallets ok, KYC > CAD 1,000)

Privacy coins banned, strict KYC, wallet restrictions

Strong but heavily costly, slow to launch

Positioning

Global Payments & Crypto. Canada = trusted hub

Strong EU crypto compliance, heavy obligations and fines

EMI - EU

Capital

€350k+

Setup time

Starting from 12 months

Local office/staff

Local office & team needed

Scope

E-money & payments only

Compliance

Heavy reporting & audits

Crypto rules

Crypto excluded (needs separate license)

Positioning

Strong but heavily costly, slow to launch

MSB - Canada

Capital

No minimum

Setup time

Starting from 4 months

Local office/staff

Not required

Scope

Payments + Crypto services + Crowdfunding

Compliance

Light (focus on AML)

Crypto rules

Friendly (tokens are allowed, wallets ok, KYC > CAD 1,000)

Positioning

Global Payments & Crypto. Canada = trusted hub

MiCA / CASP - EU Crypto

Capital

€50-150k

Setup time

Starting from 12 months

Local office/staff

Country presence needed

Scope

Crypto services only

Compliance

Strict EU crypto rules

Crypto rules

Privacy coins banned, strict KYC, wallet restrictions

Positioning

Strong EU crypto compliance, heavy obligations and fines

Requirements for Obtaining MSB Registration (Canada)

To operate as a Money Services Business in Canada, companies must meet several legal and regulatory conditions. These requirements ensure transparency, compliance with FINTRAC standards, and readiness to provide safe financial services. Here's what you need to prepare before applying for MSB license:

Canadian company incorporation (or apply as a Foreign MSB if serving Canadians from abroad).

Registered Canadian address for official correspondence.

Disclosure of owners, directors, and senior managers (fit & proper).

Appoint a compliance officer with necessary experience

Implement a written AML/ATF program (policies, risk assessment, training, 2-year effectiveness review).

Prepare and file registration with FINTRAC (MSB number upon confirmation).

How We Get Your Registration Done — Step by Step

Our process is designed to be fast, compliant, and transparent. Below is the exact path we'll take together—from eligibility check of your company's name to final approval letter from FINTRAC.

Discovery & Eligibility Check

1–2 business days

Goal: Confirm your activities fit MSB/FMSB scope (currency exchange, money transfer, virtual currency dealing), decide corporate route, and map risks.

What we do:

Quick interview and business model walkthrough
Jurisdiction & structure suggestion (Canadian MSB vs foreign MSB)
High-level risk flags & banking feasibility

What you provide:

Company vision, target products, countries, rough volumes

Deliverable: Written eligibility memo + project plan & quote

Document Checklist & Kick-off

2–3 business days (parallelizable)

Goal: Assemble everything you’ll need for FINTRAC registration and compliance build.

What we do:

Tailored checklist + templates (owners, directors, branches, products, delivery channels)
Drafts for org charts, services mapping, and initial risk mapping

What you provide:

Corporate/ID documents for owners & senior management
Expected volumes by service, business plan, locations/agents (if any)

Deliverable: Clean, validated application pack baseline

Company Incorporation & Obtaining Business Number

2–5 business days

Goal: Set up a Canadian entity (if operating as a Canadian MSB) and obtain a business number.

What we do:

Registration of company with preparation of articles of association
Canada Revenue Agency Business Number support

What you provide:

Director/Shareholder decisions & signing

Deliverable: Incorporated entity + BN

Compliance Program Build (AML/ATF, KYC, Risk Policies)

~1 week

Goal: Implement a full FINTRAC-compliant program (AML/ATF policies, KYC, risk appetite, suspicious transaction training, CO appointment, review plan).

What we do:

Draft & tailor AML/ATF policies and risk procedures
Formalize Compliance Officer and staff responsibilities

What you provide:

Confirmed business model specifics & risk appetite

Deliverable: Signed compliance program package (ready for filing and operations)

FINTRAC Pre-Registration & Filing

starting from 4 months

Goal: Submit pre-registration form, then complete registration with FINTRAC.

What we do:

Prepare and submit pre-registration request
Complete registration forms with corporate & compliance docs
Manage correspondence until registration is approved

What you provide:

E-signs and factual confirmations

Deliverable: Application submitted + FINTRAC tracking point

Approval, MSB Number & Public Registry

2–3 business days

Goal: Obtain confirmation and appear in FINTRAC MSB registry.

What we do:

Confirm registration status and MSB number
Provide proofs for banks, PSPs, partners

Deliverable: MSB registration confirmation + public listing reference

Banking / PSP Onboarding (Recommended)

2–6 weeks

Goal: Secure operational accounts aligned to your risk profile.

What we do:

Prepare and submit enhanced KYC pack (policies, governance, ownership, volumes, flows)
Introduce suitable providers; support Q&A

What you provide:

Final business flowcharts, geos, counterparties

Deliverable: Operational account(s) ready for go-live

RPAA Registration

Goal: Register with Bank of Canada under RPAA if safeguarding customer funds.

What we do:

Gap assessment
RPAA registration support
Ongoing obligations mapping

If you’re a PSP or plan to safeguard fiat money

7.5

After Approval — Reporting, Monitoring & Renewal (Lifecycle)

Goal: Keep you compliant, audit-ready, and live.

What we do:

Suspicious Transaction, EFTR, LCTR reporting via FINTRAC
Annual compliance report & renewals
Change management to keep registration updated

Deliverable: Ongoing compliance lifecycle established

Trusted Partner for Fintech,Crypto & Payments

We’ve helped fintech startups, crypto exchanges, and payment providers obtain MSB registrations and build sustainable compliance functions. Clients value our specialization, hands‑on support, and partner network.

Trustpilot

4.9/5

Google

4.8/5

MSB registrations

10+

Jurisdictions served

Years of experience

Dedicated fintech experts

MSB License Packages & Costs

We're transparent about MSB registration costs and typical timelines. Choose a fresh setup or our Ready-Made MSB company for faster market entry. FINTRAC does not charge a government fee; prices reflect incorporation, compliance, professional services, and optional add-ons.

*Availability varies by package and model. We'll advise what's fit-for-purpose.

MSB Registration + RPAA

popular

Best for: Payment service providers who need both FINTRAC MSB registration and Retail Payment Activities Act (RPAA) compliance with the Bank of Canada.

Understanding financial crime prevention and risk management strategies.
Operational policies (risk, incident response, safeguarding)
FINTRAC correspondence handled
AML/KYC aligned with Bank of Canada & RPAA
RPAA registration with the Bank of Canada (extra 2500 CAD ~ 1600 EUR)
Appointment of Chief Compliance Officer*

21,000 EUR

19,900 EUR

FMSB Registration (Foreign Entity)

Best for: Foreign companies that want to register as an MSB in Canada without setting up a Canadian entity.

All services from the MSB License (with Canadian Company Setup) package
Excluding incorporation of a Canadian company
Option: Non-Canadian company may be created by the client or arranged by us upon agreement

21,000 EUR

9,800 EUR

MSB Registration (Canadian Company)

Best for: Companies that want to incorporate in Canada and get full MSB registration, including bank account setup.

Name reservation & incorporation of Canadian LTD
Full set of corporate documents
Preparation & submission of MSB application
Liaising with FINTRAC
AML/ATF & compliance policies
Assistance with AML Compliance Officer
Virtual business address (licensing period)
B2B account opening in payment institution

21,000 EUR

11,900 EUR

Ready-Made MSB Company

Fast-Track

Best for: Businesses that want to skip the waiting time and start operations immediately with a registered MSB company.

Ready-made Canadian MSB company (listed with FINTRAC)
All corporate documents are ready to use
Existing compliance program
Ownership transfer & changes in the structure of company
Immediate ability to operate
Why choose this?
- No waiting for MSB license approval in Canada
- Lower operational risk (pre-vetted structure)
- Perfect for fast market entry

32,000 EUR

from 30,000 EUR

MSB License FAQ — Everything You Need to Know

An MSB license (Money Services Business) is mandatory for companies dealing with money transfers, foreign exchange, or cryptocurrencies. It ensures legal compliance with FINTRAC regulations and allows your business to operate legally in Canada.

The process includes: - Registering your company in Canada (or applying as a foreign MSB). - Preparing AML/KYC policies and appointing a Compliance Officer. - Submitting your application to FINTRAC. - Responding to any regulator requests. Once approved, your company is listed in the public MSB registry.

Costs vary depending on your setup: - Standard MSB registration: from 11,900 EUR - MSB + RPAA package: from 19,900 EUR - FMSB registration: from 9,900 EUR - Ready-made MSB company: from 30,000 EUR

Timelines: - Standard MSB registration: from 4 up to 12 months - FMSB registration: from 4 up to 12 months - Ready-made MSB company: operational in 2–3 weeks after transfer of ownership

Yes. Crypto companies in Canada generally need to register as an MSB with FINTRAC if they deal in virtual currency. This includes exchanging fiat for crypto (and vice versa), exchanging one crypto for another, transferring crypto on behalf of clients, or providing payment/invoice services using crypto.

MSB: Canadian company with a local presence (address, possibly director/officer). FMSB: Foreign company providing services to Canadian and non-Canadian clients without local incorporation. Requirements differ, especially for taxation and corporate structure.

An MSB-licensed company in Canada must comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and FINTRAC regulations. This includes registering with FINTRAC, maintaining AML/CTF policies, assessing risks, monitoring transactions, and reporting large cash/electronic transfers or suspicious activities. Non-compliance can result in penalties, follow-up assessments, or referral to law enforcement.

A director must: - Have financial and regulatory competence - Be free of criminal convictions - Be approved as fit and proper by regulators Appointing a local director or AML officer can strengthen the application.

Yes. Registration is possible online. A Canadian address and representative are still required, and all corporate documents must meet FINTRAC’s standards.

Consequences of non-compliance include administrative monetary penalties (AMPs), potentially in the hundreds of thousands of dollars. FINTRAC publicly discloses penalties, damaging reputation and credibility. In serious cases, non-compliance may be referred to law enforcement for prosecution.

Yes. Ready-made MSB companies are available from 30,000 EUR. They are already incorporated, registered with FINTRAC, and come with a compliance program. Ownership transfer usually takes 2–3 weeks, allowing immediate market entry.

Connect with our experts

Tell us about your model (remittance, FX, crypto exchange, wallet, PSP). We'll reply within 24h.

Free 15-minute eligibility check