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Money Service Business License Registration & Compliance Services

Are you looking to register for a Money Service Business (MSB) license in Canada? Do you need your MSB’s ongoing compliance obligations taken care of? We can help you with the process from start to finish. Our straightforward, modular services make it easy to get your MSB registered, banked, and compliant.

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What We Do

We've worked with money service businesses from around the world to help them become registered and compliant in Canada. We can assist you, whether you're a cryptocurrency exchange, money transmitter, virtual “wallet” provider, or payment service provider.

Solutions that Match Your Needs

Registration only

30-90 days
Register you as an MSB or fMSB, which includes the following:
Completing your company formation process
Preparing your risk assessment
Creating your KYC/AML policy
FINTRAC registration, including handling all communications with FINTRAC
Corporate documents and accounts setup
Drafting legal recommendation of required registration status

Full-suite CCO-as-a service

Ongoing
Complete outsourcing of your AML(FINTRAC) compliance function:
Providing you with a local CCO
Assisting with obtaining CAD(and US) banking services
Local anti money laundering officer
Establishing a local office / physical presence in Canada
Client onboarding and KYC
Ongoing FINTRAC reporting
Ongoing record keeping obligations
Buildout and maintenance of your compliance program
All other ongoing AML obligations

Ongoing compliance consulting

Ongoing
Advice and assistance with any part of your compliance function, including:
Assisting with ongoing KYC
Ongoing FINTRAC reporting
Ongoing record keeping obligations
Help build out and maintain your compliance program
Supporting two-year effectiveness review
Help your compliance team with the above
A
B
C

Tier

Registration only

Full-suite CCO-as-aservice

Ongoing compliance consulting

Features

Register you as an MSB or fMSB, which includes the following:-

  • Completing your company formation process
  • Preparing your risk assessment
  • Creating yourKYC/AML policy
  • FINTRAC registration, including handling all communications with FINTRAC
  • Corporate documents and accounts setup
  • Drafting legal recommendation of required registration status

Complete outsourcing of your AML(FINTRAC) compliance function:

  • providing you with a local CCO
  • Assisting with obtaining CAD(and US) banking services
  • Local anti money laundering officer
  • Establishing a local office / physical presence in Canada
  • Client onboarding and KYC
  • Ongoing FINTRAC reporting
  • Ongoing record keeping obligations
  • Buildout and maintenance of your compliance program
  • All other ongoing AML obligations

Advice and assistance with any part of your compliance function, including:

  • Ongoing KYC
  • Ongoing FINTRAC reporting
  • Ongoing record keeping obligations
  • Help build out and maintain your compliance program
  • Supporting two-year effectiveness review
  • Help your compliance team with the above

Expected Timeline

30-90 days

Ongoing

Ongoing

A

Tier

Registration only

Features

Register you as an MSB or fMSB, which includes the following:-

  • Completing your company formation process
  • Preparing your risk assessment
  • Creating your KYC/AML policy
  • FINTRAC registration, including handling all communications with FINTRAC
  • Corporate documents and accounts setup
  • Drafting legal recommendation of required registration status

Expected Timeline

30-90 days

B

Tier

Full-suite CCO-as-a service

Features

Complete outsourcing of your AML(FINTRAC) compliance function:

  • Providing you with a local CCO
  • Assisting with obtaining CAD(and US) banking services
  • Local anti money laundering officer
  • Establishing a local office / physical presence in Canada
  • Client onboarding and KYC
  • Ongoing FINTRAC reporting
  • Ongoing record keeping obligations
  • Buildout and maintenance of your compliance program
  • All other ongoing AML obligations

Expected Timeline

Ongoing

C

Tier

Ongoing compliance consulting

Features

Advice and assistance with any part of your compliance function, including:

  • Ongoing KYC
  • Ongoing FINTRAC reporting
  • Ongoing record keeping obligations
  • Help build out and maintain your compliance program
  • Supporting two-year effectiveness review
  • Help your compliance team with the above

Expected Timeline

Ongoing

Process to Register a Trademark

Meet

Pouya Makki

Pouya helps fintech companies navigate complex Canadian AML and securities regulations with creative approaches and practical solutions. His clients range from payment service providers, e-money businesses, and crypto exchanges. Outside of work, Pouya teaches blockchain law at George Brown College and is a member of the Canadian Blockchain Consortium's Legal Committee and Access to Banking Committee.

Meet

Tigran Rostomyan

Tigran is the founder of AML Incubator, and is a Financial Crime Mitigation Consultant within the AML/TF and General Compliance sector and a board member of the ACAMS Vancouver Chapter as a Member at Large. He has over 10 years of experience. His has overseen the design, implementation, and monitoring of financial crime mitigation management for many crypto & banking businesses worldwide. His interests fall in with Blockchain Analytics, DeFi and CeFi, NFT & Web 3.

Meet

Firstname Lastname

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Why Renno?

We offer peace-of-mind through the complex MSB setup and on-going compliance process. We provide a full suite of compliance consulting services, from initial structuring and MSB registration to ongoing compliance.

Banking and Connecting

Getting registered and operating compliantly is only half the battle for players in the payments space. The real challenge lies in getting banked and building valuable relationships with other players, service providers, and potential clients in the space.

We understand the importance of relationship building and as one of Canada’s forefront fintech-focused law firms, we have a network of trusted partners in the payments and digital asset industry. This allows us to be more than just legal and compliance experts to our clients - we take a broader approach to our clients' needs by serving as connectors and business advisors. Our goal is to help our clients succeed by providing strategic guidance and introducing them to banking partners and other key contacts. We believe that our role is to be partners in our clients' businesses, not just their lawyers.

End to End Solution

With Renno, you can get all of your compliance and legal needs met. There’s a lot MSBs have to worry about, especially when it comes to legal and compliance - we want to make it as easy as possible. Which is why we are offering a 1-stop solution for both needs.

Our CCO service can be offered with the tools you are already using or we offer a full suite of compliance tools, including client screening, transaction monitoring and other KYC/AML tech stack options.

Get Started

Ready to get started? Contact us today to begin your MSB licensing process.

Thank you! Someone from our team will get back to you within 1-2 business days in response to your inquiry.
Nous vous remercions. Un membre de notre équipe vous répondra dans un délai de 1 à 2 jours ouvrables.
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