Canada is a country with one of the most developed legal systems in the world. It proved to be effective during the international crisis. As a result, many financial institutions tend to work here. Obtaining MSB license in Canada is a good decision if you want to work legally in this country. Getting a work permit is not difficult if you are willing to work openly and honestly. Specialists can conduct a full consultation and help obtain a work permit as quickly and efficiently as possible.
Several companies must get a permit to operate legally in Canada. It includes companies that provide the following services:
Thus, if your organization provides any financial services, you must obtain permission to do so.
If you want to provide financial services in Canada, you need to get permission anyway; otherwise, you may get in trouble with the regulators. As soon as they identify an unlicensed team, they immediately block the site, considering it a scam. It leads to the fact that the company can no longer work usually or the functioning of it stops completely. In addition, the authorities launch an investigation against the owner of such a company. At best, they face a fine for non-payment of taxes and, at worst, suspicion of fraud or money laundering.
In addition, finding new investors or partners will be much easier if you have a license, ensuring the company’s sustainable development. Nobody wants to cooperate with unlicensed financial institutions because they cannot guarantee their reliability.
The same applies to clients. They are ready to pay more to licensed companies, as they will be confident in their reliability. In addition, after obtaining a work permit, you will be able to actively promote promotions without fear of attracting the attention of regulatory authorities.
As you can see, financial companies cannot work stably without a license.
If you decide to get a license, you need to go through 3 simple steps:
In general, we can confidently say that obtaining a license in this country is as simple as possible. It usually takes no more than 2 months if all documents are in order and the company meets all requirements. Let’s find out what problems you will have to face when going through each of the stages.
Before registering an organization, people in business can choose any province. For foreigners, British Columbia is most often suitable. At this stage, you must come up with a company name, register an address (you need to rent an office), determine the authorized capital, and consider management.
Pre-registration involves passing a short interview with a government official. Here you need to provide the following information:
A company specialist can ask leading questions about the work of your company.
It is the most crucial step in obtaining a license. Here you need to provide a large package of documents containing all the information about your company. It is advisable to seek help from lawyers to collect documents for this stage since you are unlikely to do this correctly on your own.
Companies like Gofaizen-Sherle have a teams of experts who advise on obtaining an MSB license in Canada so you can get:
So, you can issue a power of attorney to our specialists, who will handle all the most challenging work.
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