To operate as an MSB in Ontario, an applicant is obliged to complete a registering procedure. It consists of the below-listed steps: To be registered as an MSB, the applicant can reach out Canada’s financial intelligence unit, FINTRAC, which mandate is to facilitate the operation of the Canadian financial sector….

Foreign MSB companies (further mentioned as FMSB) are obliged to carry out the KYC procedure while performing services to their clients. These entities are required to undertake client due diligence measures that are divided into simplified and enhanced. The process of collection and evaluation of relevant information about a client…

To stay compliant with rules imposed on Money Service Businesses, it is obligatory to: Get registered with FINTRAC; Draw up AMLCTF compliance programs and related internal control systems; Employ an officer in charge of the execution of the internal conditions properly documented; Prepare internal and external operational papers that are…

Canada is a great place to invest your money, with a stable economy, strong rule of law, and a business-friendly environment. As a G7 country with a highly educated workforce, a wealth of natural resources, and a strategic location between North America and Europe, Canada offers investors a range of…