What this area covers: brokerage in Canada
Brokerage is one of 8 parts of our “Licensing — MSB / VASP / EMI” practice. It covers the full cycle from initial scoping to operational launch, run by a single named partner from our Canada practice.
What it is in Canada: FX / securities brokerage.
How we handle brokerage
The “Brokerage” project in Canada is structured as a 4-stage process run by a single named partner.
Fintech, crypto, EMI, and payments licences across Canada, the UK, UAE, Estonia, and Singapore — application through to regulator onboarding.
The same desk that runs brokerage handles your banking, bookkeeping, compliance and — where needed — your wind-down.INNOVA · Operating model
Why Canada
Canada is our primary launchpad for MSB licensing and fintech projects. We know where you can genuinely open a corporate account, how to clear FINTRAC on the first attempt, and how to avoid the common pitfalls in provincial corporate law. A G7 country with a developed banking system, a broad network of tax treaties, and a bilingual operating environment.
A reliable regulatory environment
Banking ecosystem
Corporate tax 26.5% federal + provincial blended (Ontario)
INNOVA represented on the ground
Why INNOVA
Operational differences that hold up on the 2nd, 5th and 10th project — not just at first impression.
One partner — the whole cycle
Registration, banking, tax, compliance, immigration — run by one team from start to finish.
14 years of practice
Working since 2012 through several regulatory cycles — including FATCA/CRS, the tightening of banking, and the introduction of UAE CT.
Regulator-grade documentation
Every output document is ready for audit and investor scrutiny — whatever the size of the deal.
Multi-jurisdiction within the group
Cross-border work is handled inside the group — no chain of external subcontractors.
How the work is structured
A 4-stage process led by a single named partner — from the intro call to the operational hand-over.
Feasibility analysis
Jurisdiction selection and assessment of approval prospects
Document preparation
Application and supporting documents
Submission and review
The regulator's review process
Post-licence setup
Banking, operating model and monitoring
What we need from you · what you get from us
What we need from you to begin — and what you walk away with. We won't pester you with needless questions: we already have most of the answers.
- Activity scope + product matrixstructured
- Beneficial-owner packall UBOs
- Business plan10–30 pages
- Financial projections3 years
- Proof of capitalminimum thresholds
- Senior-management CVsfit & proper
- Licence issuedin name
- Regulator approval lettersissued
- Licence-conditions registertracked
- Ongoing-reporting calendarset up
- Bank onboarding initiatedlinked
Four ways to work together
We don't quote a fixed price without understanding your situation — cost depends on the complexity of your case. Start with an initial call, then we pick the right format.
Intro call
A 30-minute online consultation. We discuss your situation, define the project scope, and propose a structure and timeline.
Written analysis
A written consultation with a full review of the business — tax positioning, structure options, jurisdiction comparison, banking path. Turnaround: 5 business days.
Operating roadmap
For complex situations — multi-jurisdiction structures, regulated activity, founder relocation. A full plan with stages, dependencies, deliverables and timing.
Direct execution
You know what you need — we execute. No advisory mark-up and no discovery phase.
Fill in the questionnaire
Complete the online questionnaire: it creates your account on the portal, where your structure, renewal reminders and documents will live.
Fill in the questionnaire
4 steps · creates an INNOVA portal account · 24h review.
Once you submit the questionnaire we create a portal account. Inside: your live structure, a renewals calendar (annual returns, register updates, tax filings), a document vault (certificates, share register, bank letters), a partner chat and project status. A single place for your entire operational life.
From a client
A review from a client who went through a comparable project. Verified, the engagement is ongoing.
Frequently asked questions
The questions we're asked most often. If yours isn't here, an intro call is the fastest way to get an answer.
Most “Brokerage” projects in Canada run 4–9 months start to finish. The fastest stage is document filing; the longest is post-registration onboarding (banking, tax registration). A single named partner runs the project throughout.
From US$ 18,000 · depends on licence type. The lower bound is for clean, standard profiles; the upper bound is for complex ownership structures, multi-jurisdiction projects or regulated activity. A fixed quote follows a 30-minute scoping call.
In most cases, no. The entire process runs remotely under a notarised power of attorney. A handful of jurisdictions require an in-person visit (typically biometrics for a residence permit) — we plan those as efficiently as possible.
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.
MSB (Canada) is a licence for fiat money services. VASP (EU and others) covers virtual assets. EMI (EU/UK) is an Electronic Money Institution — a broader status, regulated like a quasi-bank. The choice depends on your activity, jurisdiction and capital.
Yes — the licence application and the AML/KYC programme are developed in parallel. Filing an application without the programme leads to conditions or a refusal.
Brokerage in other countries
The same service — in every jurisdiction we run. One desk, one standard.
