FINTRAC MSB registration in Canada

About This Company

Registration is granted to one legal entity. FINTRAC gives the money services business (MSB) registration to that specific entity, and it cannot be assigned or sold to another entity. The company holds this registration, and the registration type covers money remittance, currency exchange, virtual asset exchange and transfer, and crowdfunding services. FINTRAC assesses the criminal eligibility of owners, leaders and agents under section 11.11. Applicants submit criminal record checks for the CEO, the president, all directors and each person or entity owning or controlling 20% or more. Changes in ownership are notified to FINTRAC within 30 days, on the official Change form, and a late report can bring revocation. A move of operations to a different company is a separate matter: the acquiring entity completes pre-registration and submits a new MSB registration application. The registration is valid for two years and is renewed before the expiry date. The MSB Registry entry shows the registration number and the approval and expiry dates.