Licensed Ontario law firm 🔹 Law Society of Ontario 🔹 20+ years of experience 🔹 Works directly with FINTRAC

🔹

Licensed Ontario law firm

🔹

Law Society of Ontario

🔹

20+ years of experience

🔹

Works directly with FINTRAC

🔹

built for non-resident founders

You don't need to live in Canada to own a Canadian MSB

  • 100% foreign ownership
    No Canadian partner required
  • No resident director
    No Canadian director needed
  • ON company, set up for you
    We handle incorporation
  • Fully remote
    The whole process, online
Banking is often the hardest step for non-residents. Approval is always the bank's decision — but we can share a curated list of MSB-friendly providers, at no extra cost.

About CBES & approved msb

Approved MSB Services is Canada's premier provider of tailored solutions for Money Services Businesses (MSB). Located in Toronto, Canada, our team comprises a licensed Canadian lawyer, business compliance specialists, AML consultants and other professionals with the knowledge and expertise to work with the local Canadian regulators and government authorities. We work closely with FINTRAC and monitor all the regulatory changes and updates to ensure our clients' ongoing compliance with the current requirements.

With years of industry experience, we understand the diverse compliance challenges companies offering MSB services face in Canada. That is why we have developed unique, comprehensive and business-oriented solutions that support our clients' operations throughout their lifecycle from the initial MSB registration with FINTRAC (Canadian Regulator) to a complete set of operating policies and procedures, Compliance Officer services and much more. All our products and services are built to fulfill our clients' regulatory obligations, streamline their operations, and minimize risk.

You benefit from our extensive expertise and profound understanding of the regulatory framework when working with Approved MSB Services as your service provider. You also acquire a trusted partner to navigate the intricate journey of securing initial licensing and maintaining impeccable financial compliance as your business grows and expands.

Situated in Canada, our company boasts a substantial local presence that allows us to cater to an international array of clients from regions such as Europe, Africa, Latin America, and Asia. Our physical office space in Canada is a clear indicator of our dedication to both local and global markets.

ATTENTION

We have noticed an increase in fraudulent activities where scammers promise expedited and inexpensive assistance in obtaining a Money Services Business (MSB) license in Canada.

To protect yourself, please be vigilant, ensure you have all necessary documentation, and thoroughly read any agreements before signing.
For added security, please verify the following:

1. The company employs a lawyer licensed to practice in Canada.
2. The company has a physical office in Toronto.
These measures help confirm that the company operates with integrity.
Our company holds all the necessary certificates and licenses and is a member of the Law Society of Ontario. You can verify our membership here:

Law Society of Ontario Member Directory

Additionally, below you will find photos of our office, which you are welcome to visit in person.

results of our work

We assist numerous companies in obtaining Canadian MSB licenses. Below, you can view some supporting evidence.

WHY Canada?

Choosing to apply for a Canadian Money Services Business (MSB) license offers a direct and expedient method to initiate your payment operations.


Unlike the laborious and expensive process of acquiring an EMI license in the EU, a Canadian MSB license takes 6-7 months from the beginning of the process until the moment your business obtains the license.


Canada is a faster, simpler route than the EU EMI process — with no initial capital requirement and a clear, well-defined path to FINTRAC registration


Here are the advantages of getting an MSB license for your corporation:

  • Legal Operation Assurance
    Operating a financial service in Canada requires an MSB license to ensure that the business adheres to the law. Securing this license affirms compliance with stringent regulatory standards and legal frameworks.
  • No Initial Capital Requirement
    Unlike other regions where a significant capital deposit is mandatory, Canada's MSB licensing process is more accessible as it requires no upfront capital.
  • Broad Service Spectrum
    Holders of the Canadian MSB license are authorized to deal with any money services operations, including traditional currencies and VC. The MSB license covers all the services that are included in the FINTRAC list.
  • Streamlined Licensing Procedure
    The licensing process in Canada is notably faster than in many European countries, ranging from two to five months depending on the completeness of the submitted documents.
  • Operational Versatility
    An MSB license in Canada permits the provision of various financial services such as foreign exchange, funds remittance, issuing of money orders, cryptocurrency trading, and even crowdfunding. This versatility allows businesses to diversify their offerings and attract a broad range of investors.
  • Trusted Financial Environment
    Canada's financial sector is known for its safety and stability, attributes that are supported by strong banking institutions and a commitment to innovation. This reputation establishes a trustworthy backdrop for businesses.

What is MSB licence?

Every business providing one of the services listed below must obtain and keep in good standing its MSB license with FINTRAC:

Does your business

need an MSB license?

Check to see if you need to register with FINTRAC as a money services business
Please enter your contact information for a free consultation and we will contact you soon.
Do you offer one or more of the following services?
Do you have a place of business:
Does your business direct services at persons or entities in Canada? 
Does your place of business provide services to clients in Canada?

How to get your MSB Registration in Canada?

MSB license application is a multi-faceted process, which requires understanding of various FINTRAC regulations, knowledge of the licensing process and experience in financial compliance. Using our expertise in the industry, we at Approved MSB Services have created a comprehensive proposal that will take your business through all the stages of the licensing process and will generate proper compliance paperwork to make sure you continue to operate in compliance with FINTRAC regulations.
Free consultation
Contact us for a free initial consultation. We review your business and map out your path to a Canadian MSB.
Company & structure
We will review your current business/corporate structure, if any, and assist you with any incorporation or corporate reorganization that your business may need and will advise you on other relevant legal matters that may be important for your business and the MSB Registration.
FINTRAC & compliance
We will assist with the entire application process with FINTRAC, including the collection and submission of information required by FINTRAC, and the drafting of a comprehensive compliance program and record-keeping documentation to help you meet the PCMLTFA requirements and any other relevant FINTRAC requirements.
Note: unlike most consultants providing MSB Registration services, CBES is a business law firm with extensive experience assisting entrepreneurs, start-ups, and businesses. CBES can help navigate other legal matters that may arise in connection with your application process, or with your business, without you necessarily having to seek legal advice elsewhere.
How to get your MSB Registration in Canada?
Step one
Contact us for a free initial consultation. We review your business and map out your path to a Canadian MSB.
Step two
We will review your current business/corporate structure, if any, and assist you with any incorporation or corporate reorganization that your business may need and will advise you on other relevant legal matters that may be important for your business and the MSB Registration.
Step three
We will assist with the entire application process with FINTRAC, including the collection and submission of information required by FINTRAC, and the drafting of a comprehensive compliance program and record-keeping documentation to help you meet the PCMLTFA requirements and any other relevant FINTRAC requirements.
MSB license application is a multi-faceted process, which requires an understanding of various FINTRAC regulations, knowledge of the licensing process, and experience in financial compliance. Using our expertise in the industry, we at Approved MSB Services have created a comprehensive proposal that will take your business through all the stages of the licensing process and will generate proper compliance paperwork to make sure you continue to operate in compliance with FINTRAC regulations.
Note: unlike most consultants providing MSB Registration services, CBES is a business law firm with extensive experience assisting entrepreneurs, start-ups, and businesses. CBES can help navigate other legal matters that may arise in connection with your application process, or with your business, without you necessarily having to seek legal advice elsewhere.

Evgene Jakubov

Senior Consultant, Barrister and Solicitor (ONT)

Our senior consultant, Evgene (Eugene) Jakubov, has over 20 years of experience as a licensed lawyer and more than 10 years working with MSBs and other growing businesses, providing licensing, compliance, and legal support services.

He has served as a legal consultant for medium-sized financial services organizations, including credit card issuers, POS distributors, acquirers, and those offering financing solutions for small and medium businesses.

As a successful entrepreneur himself, Eugene understands the significance of proper compliance in the MSB industry. He has prepared all our legal and governance documents to ensure they are easily and efficiently implemented and used by your business.

Certification

& Expertise
Take the Next Step
Ready to register your Canadian MSB? Tell us about your business and get a clear, no-obligation roadmap from a licensed Ontario law firm.

Our dedicated team will guide you through the process, addressing all queries & concerns.

Together, we'll ensure your Canadian MSB is licensed & compliant with FINTRAC laws.