Key Requirements Under
Registration in approximately 4 to 6 months
Canadian MSB registration
Canada's FINTRAC framework is one of the most respected and flexible regulatory paths for fintech and crypto businesses, offering a globally recognised compliance credential without the capital requirements of a full financial license.
What this enables
Permitted
MSB activities
Cross-border payment services
Currency exchange
Virtual asset exchange and transfer services
Payment processing for merchants and digital platforms
International money remittance
Who this Is for
This structure is suited to:
Crypto exchanges requiring a reputable regulated jurisdiction
Payment gateways processing cross-border transactions
Fintech companies seeking an internationally recognised compliance framework without large capital requirements
Global payout platforms, foreign exchange services, and cross-border remittance providers
Who this is for
This is not the right fit if:
You are handling client funds or operating payment accounts that may trigger Bank of Canada RPAA registration requirements – this adds scope and timeline, addressed within the Premium tier
Your primary strategy is active client acquisition in the EU and you need EU passporting — a Latvian EMI or CASP registration may be more appropriate.
Your business model does not involve money services or virtual asset activities as defined by FINTRAC
Registration process
Company incorporation
in Canada
in Canada
Registration of a Canadian legal entity, corporate structuring, and legal address provision.
Your responsibility: provide ownership structure, UBO documentation, and company name preferences.
FINTRAC MSB registration
Preparation and submission of the MSB registration application to FINTRAC, including all required regulatory documentation.
Your responsibility: review and sign off on regulatory documentation.
Compliance framework preparation
Development of internal AML/CTF policies, KYC/KYB procedures, and risk management framework.
Your responsibility: confirm operational model and targeted MSB activities.
RPAA registration (Premium tier, where applicable)
If the business model involves client funds or payment accounts, additional registration under the Bank of Canada Retail Payment Activities Act is required. DM Strategy manages the application and compliance package.
Your responsibility: confirm whether RPAA obligations apply to your intended business model.
Total timeline: approximately 4 to 6 months, depending on business model and FINTRAC review.
What is included
Service Packages
Essentials package
Corporate Setup
UBO / executive director due diligence
1 person
Shareholders as physical persons
Company name verification
Company incorporation in Canada
Corporate Infrastructure
Legal registered address (1 year)
Corporate secretarial Support
MSB activities included:
Basic (2 activities)
Compliance documentation
MSB compliance documentation:
Basic compliance package
Professional package
Corporate Setup
UBO / executive director due diligence
Up to 3 persons
Shareholders as physical persons
Holding ownership structure accepted
Company name verification
Company incorporation in Canada
Notarized corporate documents
Regulatory structuring consultation
Corporate Infrastructure
Legal registered address (1 year)
Corporate secretarial Support
Mail forwarding support
MSB Registration at FINTRAC
MSB activities included:
Full scope
Digital infrastructure
Legal entity identifier (LEI)
Non-connected SWIFT code
Domain name registration
Website development
Single-page
Corporate email setup
Virtual Canadian mobile number (eSIM)
Compliance documentation
MSB compliance documentation:
Standard compliance package
Business plan outline
Premium package
Corporate Setup
UBO / executive director due diligence
Unlimited
Shareholders as physical persons
Holding ownership structure accepted
Company name verification
Company incorporation in Canada
Notarized corporate documents
Regulatory structuring consultation
Corporate Infrastructure
Legal registered address (1 year)
Corporate secretarial Support
Mail forwarding support
MSB Registration at FINTRAC
MSB activities included:
Full scope
Digital infrastructure
Legal entity identifier (LEI)
Non-connected SWIFT code
Domain name registration
Website development
Multi-page
Corporate email setup
Virtual Canadian mobile number (eSIM)
Compliance documentation
MSB compliance documentation:
Advanced compliance package
Tailored business plan
Bank of Canada RPAA application support
Bank of Canada RPAA compliance package
Banking & Operational Support
Search & sourcing of physical office in Canada
Assistance with Operational Bank Account Opening
Introduction to Payment Providers / EMIs
Payment Infrastructure Advisory
Not included: government filing fees, bank fees, staff salaries, third-party software costs.
What is included
Service packages
Essentials
Professional
Premium
Corporate Setup
UBO and director due diligence
1 person
Up to 3 persons
Unlimited
Shareholders as physical persons
Holding ownership structure
Company name verification
Company incorporation in Canada
Notarized corporate documents
Regulatory structuring consultation
Corporate Infrastructure
Legal registered address (1 year)
Corporate secretarial Support
Mail forwarding support
MSB Registration at FINTRAC
MSB activities included
Basic (2 activities)
Full scope
Full scope
Digital infrastructure
Legal entity identifier (LEI)
Non-connected SWIFT code
Domain name registration
Website development
Single-page
Multi-page
Corporate email setup
Virtual Canadian mobile number (eSIM)
Compliance documentation
MSB compliance documentation
Basic compliance package
Standart compliance package
Advanced compliance package
Business plan
Business plan outline
Tailored business plan
Bank of Canada RPAA application support
Bank of Canada RPAA compliance package
Banking & Operational Support
Search & sourcing of physical office in Canada
Assistance with Operational Bank Account Opening
Introduction to Payment Providers / EMIs
Payment Infrastructure Advisory
Not included: government filing fees, bank fees, staff salaries, third-party software costs.
Costs and regulatory requirements
Item
Detail
FINTRAC registration fee
No registration fee
Minimum capital
No minimum capital requirement
Ongoing obligations
AML/CTF compliance obligations apply post-registration
RPAA registration
May apply depending on business model — assessed at project outset
Common queries
Frequently asked questions
Does Canadian MSB registration require minimum capital?
No. Unlike EMI or banking licenses, FINTRAC registration has no minimum capital requirement. This is one of the key advantages of the Canadian framework for fintech and crypto businesses.
What is the RPAA and does it apply to my business?
The Retail Payment Activities Act governs businesses that handle client funds or operate payment accounts in Canada. If your business model involves these activities, registration with the Bank of Canada is required in addition to FINTRAC registration. DM Strategy assesses this at the start of each project.
Which tier is right for my business?
The Essentials tier suits businesses that need basic incorporation and compliance in place quickly, with limited scope. The Professional tier is appropriate for most fintech and crypto businesses seeking a full operational setup. The Premium tier is for businesses that also need banking access, RPAA compliance, and a full physical and digital infrastructure in Canada.
Can a Canadian MSB serve clients internationally?
Yes. Canadian MSBs can serve clients internationally without geographic restrictions, subject to applicable AML/CTF obligations in the client's jurisdiction.
How long does registration take?
Approximately 4 to 6 months, depending on business model complexity and FINTRAC review timelines. DM Strategy manages all regulatory interaction throughout the process.
Understand your regulatory path before starting
The initial call covers your business model, the appropriate tier, and whether RPAA obligations apply to your situation.
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