Renno & Co. helps you incorporate your Canadian company seamlessly. We’ll assist in selecting the best jurisdiction (Ontario, Alberta, British Columbia), complete your incorporation paperwork, and handle all necessary documents.
Documents Required From You:
Short Incorporation Questionnaire
Our Deliverables To You:
Corporate documents (bylaws, articles of incorporation, etc.)
Get Started With Company Incorporation
Fintech companies in Canada must comply with two main regulatory frameworks:
1. AML Compliance (Anti-Money Laundering): Focuses on preventing money laundering and terrorist financing.Involves customer KYC, transaction monitoring, and reporting suspicious activities.
2. Risk Management: Ensures protection of client funds and data, with requirements like safeguarding, continuity plans, and data protection.
MSB Registration
MSBs must register with FINTRAC to comply with Canada's AML regulations, focusing on transaction monitoring and KYC obligations.
Who needs to register as an MSB?
Common business models requiring MSB registration:
Payment Service Providers
Multi-Currency Account Providers
Merchant Account Providers
Our Services
Required From You
Completion of the MSB questionnaire, providing details about your services, products, and key personnel.
Starting November 2024, all MSBs must register as PSPs under Bank of Canada’s RPAA, increasing risk management compliance requirements.
Who Needs to Register with the Bank of Canada?
Payment Service Providers
Multi-Currency Account Providers
Merchant Account Providers
Our Services
Assistance with Bank of Canada registration
Writen risk management framework development (all RPAA-registered companies need to prepare a written risk management framework)
Ongoing regulatory advice
Click Here To Start MSB & RPAA Registration Process
Without a proper bank account, your fintech company cannot operate. Renno & Co will help you establish multi-currency accounts with suitable Financial Institutions (FIs), ensuring smooth operations.
Our Services
Introduction to banking partners
Onboarding package preparation
Coordination of FI queries on your behalf
Required From You
Completion of the FI onboarding questionnaire.
Secure Your Multi-Currency Account
Compliance is not a one-time task but an ongoing requirement. Renno & Co provides full support for maintaining compliance post-licensing, ensuring your business remains compliant with all AML and regulatory obligations.
Ongoing Support Includes
AML Compliance Maintenance
Support in onboarding with reputable financial institutions
Physical presence support in Canada (expected from FINTRAC and from most FIs)
Our Fractional AML Service
We offer part-time AML compliance support, helping companies establish physical presence and comply with Canadian regulations.
Talk To A Compliance Expert