WHY SHOULD YOU REGISTER A MONEY SERVICES BUSINESS IN CANADA?

Embarking on the journey of registering as a Money Services Business (MSB) in Canada is not just a legal necessity; it's a strategic move towards unlocking a realm of financial opportunities.

As outlined by Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), a business falls under the MSB umbrella if it provides one or more of the following services:

• Foreign exchange dealing
• Remitting or transmitting funds
• Issuing or redeeming money orders, traveler's cheques, or analogous instruments
• Dealing in virtual currency
• Facilitating crowdfunding platform services

If you are not currently located in Canada, Country extends its welcome to businesses currently operating beyond Canadian borders, offering a streamlined process for expansion into the nation boasting a population nearing 40 million.

This is done via registering as a Foreign Money Services Business (FMSB), affording the privilege of conducting business in Canada from an external location. This alternative route broadens horizons and fosters a global outlook for your enterprise.

MSB or FMSB registration offers more than just geographical advantages. It provides better access to banking services, opportunities for profitable partnerships, and licenses that strengthen the groundwork for long-term success. Essentially, registering as an MSB not only ensures compliance but also accelerates your business's path toward new opportunities.

For more information on Money Services Businesses:
https://fintrac-canafe.canada.ca/msb-esm/msb-eng
Looking to register your MSB or FMSB? Get in touch with us today to see how we can help!