How buying a registered MSB works
- Consultation. Your plans: the services you'll offer, your customers and your timeline.
- Matching. A company registered for the money services you need.
- Due diligence. Corporate records, registration status and history, reviewed before you commit.
- Change of ownership. The transfer of the company to you.
- FINTRAC updates. Changes to the registration information, such as owners, directors and compliance officer, reported within 30 days.
What to check before you buy
- that the registration is active and covers the services you plan to offer;
- when the registration is next due for renewal;
- the company's corporate records, ownership history and any past compliance issues;
- that the new owners and directors can provide what FINTRAC asks for, including criminal record checks for directors and anyone owning or controlling 20% or more;
- whether provincial requirements apply where you'll operate. Quebec, for example, licenses money services businesses separately.
After the purchase
The obligations come with the company. The business needs a compliance officer and a compliance program that reflect its new owners and services, and it must report to FINTRAC, keep records and renew its registration every two years. FINTRAC registration doesn't guarantee a bank account or payment partners, which make their own decisions.
Buying an MSB or registering a new one
| Register a new MSB | Buy a registered MSB | |
|---|---|---|
| Our fee | US$3,500, fixed | From €28,000 |
| Starting point | A new or existing company of yours | A company already registered |
| Main wait | Preparing the application and FINTRAC's review | Due diligence and the change of ownership |
| Afterwards | The same obligations: compliance program, reporting, record keeping and renewal | |
Sources: FINTRAC, Register your MSB or FMSB; Update, renew or cancel your registration; Money services businesses. Checked 11 October 2026. General information, not legal advice.