Until recently, any crypto-currencies were not listed on these islands, but in light of the rapid development of the crypto-industry around the world, now this jurisdiction has become one of the most promising and popular places for obtaining a crypto-license. Below we will look at the main aspects of crypto-regulation and the procedure for obtaining…
In the dynamic monetary field of Singapore, achieving an Electronic Money Institution (EMI) permission is a pivotal step for enterprises aiming to operate in the digital payments sector. This comprehensive article explores the intricacies of acquiring an EMI permission in Singapore, including the adjustment substructure, application process, operational conditions, and strategic considerations for accordance and…
Malaysia is one of the first countries to introduce cryptographic regulation policies. Under such policy, crypto-currencies are classified as securities, and according to Minister of Finance, the Malaysian governmental authorities believe that crypto-currencies and blockchain-technologies have tremendous potential to stimulate economic progress. It is believed that digital assets and their underlying blockchain technology can help…
The Dubai Worldwide Financial Centre (DIFC) is a pivotal hub for global finance in the Middle East, providing a sophisticated and business-friendly circumstances designed to facilitate growth and invention in the economic sector. As one of the world’s premier monetary free zones, DIFC supplies a unique adjustment and legal substructure, attracting a broad array of…
Overview An Australian Financial Services License (AFSL) licensed company for sale, established in 2004 and holding a credit license, is available for sale. This company is authorized to conduct comprehensive financial services and is perfectly suited for immediate operational commencement. Company Details Registration Year: 2004 Bank Account: Maintained with St. George Bank Support: Assistance with…
Overview This Securities Dealer licensed company for sale in Seychelles and registered in 2023, is currently available for sale. It operates under full compliance with local regulations, presenting a clean and streamlined opportunity for immediate operational takeover. Company Details Location: Seychelles Registration Year: 2023 License Type: Securities Dealer License Staffing and Infrastructure Staff Composition: The…
This is a new investment opportunity – AFSL license in Australia for sale. Please check out the main details regarding this proposal below. AFSL license in Australia for sale: key considerations Active company licensed by Australian Securities & Investments Commission (ASIC) in 2023; Allowed activities (financial product advice, deal in a financial product, custodial or…
Corporate Overview Establishment Year: 2018 Capital Structure: CHF 100,000 Licensing: Licensed as a Portfolio management company in Geneva for sale by FINMA in 2022; previously operated under SRO status. Business Operations of Portfolio management company in Switzerland for sale Core Activities: Specializes in providing financial advice and asset management services. Additional Capabilities: Authorized to establish…
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+1 (888) 647 05 40Today, Canadian banks and the entire financial system are considered one of the most reliable in the world, and in 2020, this country entered the ten best and most stable economies, ranking 9th. Of course, banks, financial institutions and payment systems support the financial sector. Instead of unattainable requirements, the Canadian regulator has established quite understandable rules and criteria for the ability to work in the financial sector and provide such services. All monetary transactions that are carried out by this or that institution are necessarily monitored by a special center. FINTRAC in Canada operates completely separate from law enforcement agencies, but has the right to share the information it finds with them. Individuals and businesses, as defined by the Act, are required to report a number of identified suspicious transactions to this official body.
The new law expands the powers of the FINTRAC in Canada beyond the monetary sphere and thus obliges banks, trust and insurance companies, and other bodies to inform state structures about the presence of illegal financial payments. The Center is authorized to communicate with the Police and Security Canada. In accordance with existing UN resolutions and sanctions, the federal government can confiscate any property on suspicion that it is located or controlled, or may be used by a terrorist group, or may facilitate terrorist activities.
As stated earlier, FINTRAC is the body that grants or denies licenses in Canada. To pass the check in this body successfully, you will need to perform the following actions:
You will also need to provide information about the incorporation of the company along with statements about the director and everyone who owns more than 20% of the shares. FINTRAC, in addition to all of the above, will also request an estimate of the planned annual amount of transfers for each of the services provided (in dollars) and detailed information about each MSB agent.
FINTRAC in Canada is tightening regulation of digital assets. The new rules took effect on June 1, 2020. Exchanges need to pay special attention to passing the KYC procedure. The regulator proposes to tighten control over cryptocurrency companies and digital asset transactions.
Under the new rules, if a company has a turnover of more than CAD 10,000, it must register as a cash operator. When making a transaction worth more than $ 1,000, companies must provide the name of the sender and recipient of funds, their addresses, date of birth, contact phone number and the name of the transaction cryptocurrency. In the case of larger transactions, the list of information provided will be expanded.
Eternity Law specialists will provide you with professional assistance in obtaining FINTRAC approval and registration of the company, as well as in obtaining an MSB license. In addition, Eternity Law offers ready financial licenses for sale, not only in Canada, but also in many other jurisdictions.
If you are interested in a ready-made MSB in Canada, please see our offers below:
https://www.eternitylaw.com/ready-licenses-for-sale/financial-institution-msb-in-canada-for-sale/
You can also see our offers in category ready-made companies and licenses for sale.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.