MSB License In Canada
MSB license in Canada allows providing the following services: foreign exchange dealing; money transferring; issuing or redeeming money orders, traveller’s cheques or anything similar; money orders or bank spending; check cashing; operation of ATMs; dealing in virtual currency, namely virtual currency exchange and virtual currency transfer services.
- Applicant should be a person obtaining a license – director, representative, or financial services partner of a limited liability company in Canada.
- There are no residency requirements for shareholders.
- Director (at least one), must be a resident of Canada and / or have a work permit.
- Compliance Officer and AML Officer must have a residence in Canada, and two positions can be held by one person.
- Legal address is mandatory in Canada. For companies managed and owned by non-residents of Canada, the most convenient province to register a company is British Columbia with an address located in Vancouver.
- No requirements for the amount and payment of the authorized capital.