Ordered and paid online
We incorporate a Canadian corporation and register it as a money services business with FINTRAC, or manage the acquisition of an existing FINTRAC-registered corporation — together with the compliance programme the registration requires.
In short
Incorporation of a Canadian corporation and its registration with FINTRAC as a money services business (MSB), or acquisition of an already registered MSB corporation. The price is from €19,500, excluding VAT. How long it takes: incorporation 1–3 business days; FINTRAC registration usually several weeks — FINTRAC's own processing time.
The compliance programme an MSB must have consists of:
The authority is the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
This page states no processing period for FINTRAC, and we cannot promise timing. We confirm our own preparation time for your case in writing before the work starts.
Usual time: incorporation 1–3 business days; FINTRAC registration usually several weeks — FINTRAC's own processing time. This is what it usually takes, not a promised date.
| Service | Price |
|---|---|
| Canada MSB | |
| Canada MSB — incorporation and FINTRAC registrationFee for the standard scope — ordered and paid onlineAll fees and charges are included in the price — you pay nothing extra. | from €19,500 |
| Canada MSB — acquisition of a FINTRAC-registered corporationFee for the standard scope — ordered and paid onlineAll fees and charges are included in the price — you pay nothing extra. | from €47,500 |
| FINTRAC compliance | |
| FINTRAC compliance programmeFee for the standard scope — ordered and paid onlineAll fees and charges are included in the price — you pay nothing extra.Prepared for your company: usually delivered within 7 working days after we have received the necessary information. | from €4,600 |
| Designated compliance officer — appointmentFee for the standard scope — ordered and paid onlineAll fees and charges are included in the price — you pay nothing extra.Prepared for your company: usually delivered within 7 working days after we have received the necessary information. | from €2,200 |
| Risk assessment and two-year effectiveness reviewFee for the standard scope — ordered and paid onlineAll fees and charges are included in the price — you pay nothing extra.Prepared for your company: usually delivered within 7 working days after we have received the necessary information. | from €3,400 |
| FINTRAC registration renewalAll fees and charges are included in the price — you pay nothing extra.Prepared for your company: usually delivered within 7 working days after we have received the necessary information. | €1,950 |
This price is our professional fee for the corporate and regulatory work described, and all fees and charges are included in it — you pay nothing extra. The registration is made by FINTRAC; we cannot promise its outcome.
All fees and charges are included in the price — you pay nothing extra.
FINTRAC does not charge registration fees for a money services business, and there is no federal minimum capital for an MSB registration; the cost lies in the compliance programme.
We do not guarantee that FINTRAC will accept or keep a registration, and we cannot promise timing. We do not open bank or payment accounts and cannot promise that any institution will open one.
A FINTRAC registration is tied to the registrant and its declared activities. Changes to the registration information must be reported to FINTRAC within 30 days, and the registration is valid for two years and must be renewed before expiry. The purchaser and its beneficial owners remain subject to due diligence. Bank and payment accounts are not included and are granted solely at the discretion of the financial institution.
This price is our professional fee for the corporate and regulatory work described. It is not the price of a licence and does not include state or supervisory fees, regulatory capital, or third-party costs. The authorisation is granted by the competent supervisory authority.
Our own licence FIU000117, issued by the Estonian Financial Intelligence Unit, covers LexorCorp Global's activity as a company service provider. It is not an authorisation for your business and gives us no right to grant one: the final decision on every licence, authorisation and registration is made by the competent supervisory authority alone.
New corporation. We incorporate a Canadian corporation and prepare and file its money services business registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC does not charge registration fees (FINTRAC — register your money services business).
Acquisition. We manage the purchase of an existing corporation that is already registered with FINTRAC: due diligence on the corporation, the share transfer, and the reporting of the changes to FINTRAC. The registration stays with the corporation that holds it; it is not a separate asset that can be moved to another company.
A registration is valid for two years and must be renewed before its expiry date, and changes to the registration information must be reported to FINTRAC within 30 days (FINTRAC — update, renew or cancel your registration). A registered MSB must run a compliance programme with a compliance officer, a risk assessment, written policies and procedures, training and a review of its effectiveness at least every two years (FINTRAC — compliance program requirements). Our add-ons cover these elements.
Provincial requirements may apply as well, depending on where the business operates; we identify them in writing before the work starts.
Required add-ons are added to the order with the service. Strongly recommended add-ons arrive ticked and can be removed. Each line names the provision it rests on, read in the official text. General information about our services, not legal advice. The same list for every licence is in the guide required and recommended documents for licence applications.
Add-ons and upgrades
Each add-on states what you receive and what is not included. Prices come from our price list; every add-on is ordered and paid in the order form on this page.
from €4,600Strongly recommended
Required with: Canada MSB — incorporation and FINTRAC registration. Optional with: Canada MSB — acquisition of a FINTRAC-registered corporation.
All fees and charges are included in the price — you pay nothing extra.
from €2,200Strongly recommended
Required with: Canada MSB — incorporation and FINTRAC registration. Optional with: Canada MSB — acquisition of a FINTRAC-registered corporation.
All fees and charges are included in the price — you pay nothing extra.
from €3,400Recommended
Ordered together with: Canada MSB — incorporation and FINTRAC registration; Canada MSB — acquisition of a FINTRAC-registered corporation.
All fees and charges are included in the price — you pay nothing extra.
€1,950Recommended
Preparation and filing of the renewal of the money services business registration, which is valid for two years.
Ordered together with: Canada MSB — incorporation and FINTRAC registration; Canada MSB — acquisition of a FINTRAC-registered corporation.
What you receive
Not included
All fees and charges are included in the price — you pay nothing extra.
All prices are in euros and exclude VAT. VAT is added where it applies under the Estonian Value Added Tax Act.
General information, not legal advice. Prices are in the table above.
Incorporation of a Canadian corporation and its registration as a money services business (MSB) with FINTRAC.
For whom: Businesses providing money transfer, foreign exchange, virtual currency or similar services to or in Canada.
An MSB must implement a compliance programme and appoint a compliance officer; registration must be renewed every two years. In Quebec a separate provincial licence may be required. FIU licence FIU000117 is LexorCorp's own licence for its trust and company services; it does not authorise the client. The authorisation is granted or refused by the competent authority — no service provider can promise it.
Acquisition of a FINTRAC-registered Canadian corporation and the update of its registration.
For whom: Buyers who want an existing MSB.
Changes must be reported to FINTRAC within the set time. FIU licence FIU000117 is LexorCorp's own licence for its trust and company services; it does not authorise the client. The authorisation is granted or refused by the competent authority — no service provider can promise it.
FINTRAC compliance: the compliance programme, the compliance officer appointment, the risk assessment and two-year effectiveness review, and the registration renewal.
For whom: Canadian MSBs.
A two-year effectiveness review and renewal are legal requirements. FIU licence FIU000117 is LexorCorp's own licence for its trust and company services; it does not authorise the client.
FINTRAC compliance programme: price, requirements, process and deadline on its own page
Designated compliance officer — appointment: see FINTRAC compliance programme.
Risk assessment and two-year effectiveness review: see FINTRAC compliance programme.
FINTRAC registration renewal: see FINTRAC compliance programme.
You: You decide whether to incorporate a new Canadian corporation or acquire one that is already registered with FINTRAC.
We: We explain in writing what each route involves and which documents it needs from you.
You: You send passports and proof of address of the directors and owners and a description of the planned services.
We: We carry out due diligence on the persons and check that nothing makes them ineligible.
You: You confirm the corporation's name, directors and registered office address in Canada.
We: We incorporate the Canadian corporation, federally or provincially; incorporation itself takes 1–3 business days.
You: You appoint the corporation's compliance officer, which every MSB must have.
We: We write the compliance programme: policies and procedures, risk assessment, training plan and the two-year effectiveness review plan.
You: You check the application data, because FINTRAC closes incomplete applications and they must be resubmitted.
We: We prepare and submit the MSB registration application to FINTRAC.
You: You open bank or payment accounts yourself and run the compliance programme from the first day.
We: We pass on the registration number once FINTRAC, which alone decides on the registration, has issued it; its own processing usually takes several weeks.
You: You report changes in the registration information to FINTRAC within 30 days.
We: We prepare the renewal, which is due every two years, when you order it.
| From you | Why |
|---|---|
| Your choice: a new corporation or an existing one | It decides whether we incorporate a new Canadian corporation or arrange the acquisition of one already registered with FINTRAC. |
| Passports and proof of address of directors and owners | Directors and owners must not be subject to ineligibility under the PCMLTFA, for example because of certain convictions or sanctions. |
| Criminal record checks, where requested | You supply them only where they are requested. |
| Description of the services the business will provide | We need to know which services are planned: money transfer, foreign exchange, virtual currency or payment services. |
| Bank and payment partners, and the countries | We prepare the registration from this information together with the description of your services. |
| Corporation name, directors and Canadian registered office address | A Canadian registered office address is a prerequisite, and you confirm these details for the corporation. |
| The person you appoint as compliance officer | Every MSB must have a compliance officer, and the appointment is yours to make. |
No. FINTRAC states that it does not charge registration fees. Our price is our professional fee for the corporate and compliance work.
Two years. It must be renewed before its expiry date. Changes to the registration information must be reported to FINTRAC within 30 days.
No. The registration is tied to the registrant and its declared activities. In an acquisition you buy the corporation that holds the registration, and the changes are reported to FINTRAC.
No. Bank and payment accounts are not included and are granted solely at the discretion of the financial institution. Introductions to banking partners are available on our compliance services page, without any promise of an account.
Every two years, before its expiry date. Changes to the registration information must be reported to FINTRAC within 30 days. FINTRAC does not charge registration or renewal fees.
Yes. We check that every change after the acquisition was reported in time and prepare the renewal from the current information. Changes that require a new registration, and provincial licences, are not included.
No, a foreign MSB can register with FINTRAC, but it must meet Canadian requirements — a compliance programme and a compliance officer. In Quebec a separate provincial licence may be required.
FINTRAC examinations, reporting obligations and the two-year effectiveness review; missing them can lead to penalties or revocation.
An MSB registration must be renewed every two years; without renewal the registration lapses.
All our prices on one page. Compare this service with every other service in our price list.
See these prices in the price listGuides