FINTRAC MSB Registration — Federal Coverage, 6–8 Weeks, No Provincial Fragmentation
MSB registration via FINTRAC covers all of Canada federally — a single FINTRAC-ready filing instead of a province-by-province stack. Also VASP, EMI, and PSP structures. Typical timeline: 6–8 weeks.
What Licensing — MSB / VASP / EMI includes in Canada
What you receive
How it works
Helpful resources
Where to register and how we differ
Licensing — MSB / VASP / EMI in Canada — frequently asked questions
FINTRAC MSB registration runs through the online portal, no government fee: once the full package is in, FINTRAC publishes no processing service standard — requests are handled in the order received, and a clarification request carries a 30-day response window. In our files the review lands in 10–30 business days; registration takes effect from the date of written confirmation. With incorporation (1–5 days) and account opening (2–6 weeks), the full path to a working MSB is 6–8 weeks. The package, and the back-and-forth with FINTRAC, we handle.
Yes. FINTRAC is a federal registration covering all ten provinces and three territories — no separate provincial MSB licence needed, unlike the US with its state-by-state licences. The exception is Quebec: the AMF requires a separate provincial licence for MSBs under the Loi sur les entreprises de services monétaires. Provincial requirements, we assess at the outset.
To register you provide: the company legal name and CRA business number (BN), a description of the specific MSB activities (foreign exchange, transfers, virtual assets, etc.), names and addresses of all agents and branches, details on the compliance officer and beneficial owners (25% or more), and confirmation that a PCMLTFA program is in place. No registration fee. Renewed annually.
Yes — a non-resident can own a Canadian corporation registered as an MSB. The company needs a Canadian registered address (not a virtual office) and a compliance officer accessible to FINTRAC, with all PCMLTFA records held in Canada or accessible from Canada. The address, a Canadian compliance officer, and the record-keeping infrastructure come from us.
Under the PCMLTFA, MSB registration is mandatory for commercial dealing in any of: (1) foreign exchange dealing; (2) money transfers / remittance; (3) issuing or redeeming money orders, traveller's cheques, and similar instruments; (4) virtual currency exchange or transfer. Incidental exchange within another business (a hotel, say) generally doesn't trigger it. The test is commercial dealing, not volume. On activity classification, we advise before you file.