Canada money services business (MSB) and FINTRAC registration

Canada MSB — incorporation and FINTRAC registration

Incorporation of a Canadian corporation and its registration as a money services business (MSB) with FINTRAC.

In short

Incorporation of a Canadian corporation and its registration as a money services business (MSB) with FINTRAC. The price is from €19,500, excluding VAT. How long it takes: several weeks (FINTRAC's processing). It is ordered and paid on micaconsult.com.

Who it is for

Businesses providing money transfer, foreign exchange, virtual currency or similar services to or in Canada.

Price

Service	Price	Order
Canada MSB — incorporation and FINTRAC registration	from €19,500	Order

All prices are in euros and exclude VAT. VAT is added where it applies under the Estonian Value Added Tax Act.

What the price includes

Incorporation of a Canadian corporation
FINTRAC MSB registration
Mandatory: compliance programme and compliance officer appointment (added automatically)
Incorporation
FINTRAC registration
Compliance programme and compliance officer appointment (required)

Not included in the price

Provincial licences
Banking in Canada

State and notary fees

All fees and charges are included in the price — you pay nothing extra.

Government incorporation fee (federal or provincial)
FINTRAC charges no fee for MSB registration
Quebec licence fee where applicable

Requirements

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.

Before we start

Directors and owners not subject to PCMLTFA ineligibility (e.g. certain convictions, sanctions)
Canadian registered office address

Documents and information we need from you

Passports and proof of address of directors and 25 % owners
Criminal record checks where requested
Description of the services (money transfer, foreign exchange, virtual currency, payment services)
Bank / payment partners and countries

Process

You: Provide owner and director information and run the compliance programme.
LexorCorp: Incorporate, register and set up compliance.
Authority: FINTRAC registers the MSB.

How long it takes

Several weeks (FINTRAC's processing)

Law and requirements

Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its Regulations (Canada)

General information about our service, not legal advice.

Questions and answers

Canada MSB: what does it cost?

From €19,500, excluding VAT. All fees and charges are included in the price — you pay nothing extra.

Canada MSB: who is it for?