Licence Particulars

1. Year of issuance: 2023

2. Expiration date: July 2025 (easily renewable)

3. Business status: activated, but no customer (clean history)

4. Bank account status: currently no bank account; MSB qualification helps to apply for bank account more easily

5. Licensing Business:

◆ Foreign exchange

    ◆ Fund Transfer

    ◆ Virtual Currency

Compliance status: Full compliance with Canadian regulatory requirements

7. Development opportunities: can start customer business immediately, with expansion potential

Price

30,000 USD

MSB Licensing Business

◆ Foreign Exchange Trading (Foreign Exchange Dealing): Provides exchange services between fiat currencies and virtual currencies.

◆ Issuing or cashing money orders (Money Orders): Authorized MSBs can issue or cash money orders, checks, and other payment instruments for a variety of domestic and foreign transaction scenarios.

◆ Money Transferring: MSBs can provide clients with secure money transfer services, acting as intermediaries.

◆ Digital Payment Processing (Digital Payment Processing):MSB acts as a digital payment processor, providing an efficient and secure payment channel between individuals, businesses and banks.

◆ Remittance services (Remittance):MSB can also specialize in providing fast and convenient cross-border remittance services.

◆ Virtual currency trading (Dealing in Virtual Currencies): Whether through the trading platform or through other financial service providers, MSB can assist customers in the sale and circulation of cryptocurrencies and various types of virtual assets.

Advantages of MSB

◆ Low cost: The Canadian MSB registration process is relatively simple, the application fee is low, and there is no deposit or monthly maintenance fee.

◆ No local personnel requirements: Only one director and one compliance officer are required (there is no Canadian or local residence requirement for both).

◆ No minimum capital requirements: No minimum capital is required, the business can be self-funded, and the initial input cost is lower.

◆ Credibility: Canada's strong regulatory framework for MSBs creates a trusted financial environment that attracts global investment and boosts customer confidence.

◆ High market acceptance: MSB is the industry standard in Canada for many financial services, especially digital currency trading and payment platforms.

◆ Wide range of business: foreign exchange, fund transfer, bill issuance and payment, virtual currency transactions and a variety of payment services.

MSB Main Requirements

◆ Canadian Company Address and Agent: A local company address and registered agent are required to receive and forward official mail in a timely manner.

◆ Personnel Requirements: A Director and a Compliance Officer (Compliance Officer) need to be appointed, without Canadian citizenship or residence in Canada, but the Compliance Officer must be well versed in Canadian Anti-Money Laundering (AML) and KYC regulations and familiar with FINTRAC requirements.

◆ Corporate Bank Account: MSBs operating in Canada require a corporate bank account. We can assist with the opening of compliant accounts (including cryptocurrency-friendly banks).

◆ AML/KYC Compliance: Establish AML and KYC policies that comply with Canadian regulations.

◆ Business Plan: Submit a detailed business plan describing the MSB services and activities to be provided in Canada.

◆ Compliance requirements: MSBs must report suspicious transactions to the FINTRAC as soon as possible, and if there is reason to suspect that the transaction involves money laundering or terrorist financing.

◆ Renewal: After completing the initial registration, renewal is required every two years to maintain compliance.

Steps to acquire MSB

Step 1: Collect information

Step 2: Submit the deposit

Step 3: Accept company documents for due diligence

Step 4: Submit Remaining Money

Step 5: Change Company Name

Step 6: Change of Directors and Ultimate Beneficiaries

OUR SERVICES

1. Document collection and processing

We help collect, review and organize all the necessary documents to ensure a smooth and compliant license transfer process.

2. Local staffing arrangements

We assist you to identify or appoint a local director and, if required, a qualified responsible manager to meet FINTRAC experience and residence requirements.

3. Bank account opening assistance

If required, we can provide you with support in opening and maintaining an MSB company account.

4. Follow-up maintenance

After the license handover, we provide you with continuous compliance support, such as regulatory dynamic follow-up, annual declaration and license renewal, to ensure that your MSB is always in good condition.