Need help to form a MSB license in Canda

[offshore xpert]

Hi,
I would like to apply for a MSB license in Canada, and I would do all the paperwork with my team (KYC manuals, business plan, etc). However, I need a local provider that can assist with: the company formation, resident agent, local address, local bank account opening and guide me through the paperwork.

It has to a be a team on the ground, preferably a boutique law firm. The providers I have found online don't reply or are simply resellers that are not located in Canada.
If you have any Canadian reliable providers you have used before please do share. Thank you.

 

[Sols]

Company formation: almost any law firm or accountant can do this for you.

Resident agent: not required to incorporate but you'll need someone who can provide a mailing address if you register with FINTRAC.

Local address: provided as part of incorporation.

Local bank account: not going to happen, unless you are an existing business with a lot of history, strong operations, and credible banking partners already, or unless you're willing to pay around 10,000 CAD/month in fixed fees to bank with one of the few credit unions that accept start-up MSBs). However, as long as you can make a decent case for yourself, you should be able to find EMIs or foreign banks. RCB was among the last of the local banks to onboard MSBs but they have practically stopped doing it.

Have you familiarized yourself with the new laws that came into effect recently? Do you require registration with both FINTRAC and Bank of Canada?

Providers:
https://www.blakes.com/
https://www.outliercanada.com/
https://www.tmf-group.com/en/locations/north-america/canada/
https://www.mccarthy.ca/en
https://www.rennoco.com

 

[linusAG]

You can DM me, My partner lawyer can assist with the whole progress
We can also refer you to local US & Canadian banks or FIs