Starting November 1, 2024, PSPs must complete RPAA registration with the Bank of Canada to continue providing payment services. On November 22, 2023, the Department of Finance Canada issued relevant regulations in Part II of Canada Gazette concerning the registration requirements. The RPAA refers to Payment Service Provider any person...

The Canadian work environment is known to be one of the most respectful and approachable environments in the globe. If you are willing to work in Canada, you will be first required to understand the work permit Canada requirements. Canadian workplaces have a strong emphasis on soft skills which helps...

Canada has been a country that offers numerous advantages and opportunities to the businesses present there. Canada company registration is a necessary step in order to comply with the Canadian legislative framework. Business licenses in Canada can be obtained after the registration of the company. The registration requires some prerequisites...

Canada has a large banking network with various reputed banks present in their eco-system. For maintaining the financial system in Canada banks as well as their financial sector plays an important role. The ecosystem is so vast and developed that many entrepreneurs from all around the world intend to commence...

Canada is one of the largest countries in the world having a large population base that makes it an important economic center that contains a developed legislative framework suitable for almost all business types. An individual who needs to execute a fintech project and serve payment services needs to opt...

Compliance officers are an integral part of ensuring the success of Canadian MSBs by ensuring that these organizations adhere to all regulatory requirements relating to anti-money laundering (AML) and counter-terrorist financing (CTF). Since the AML/CTF landscape is constantly evolving, compliance officers must stay updated with regulatory changes, industry trends, and...

The money services business (MSB) industry, consisting of money transmitters and foreign exchange providers, is a significant sector that spans from small businesses to large, global corporations. Compliance with anti-money laundering (AML) regulations is perceived to be inconsistent across the industry. This perception is reinforced by the actions of Canada's...

The Canadian fintech landscape, which includes the thriving centers of Toronto, Montreal, Calgary, and Vancouver, is still blowing up following a robust in 2021, which saw the country's highest-ever levels of fintech investment. Canada's importance in the global fintech ecosystem is growing, with 2021 placed to be a milestone year...

Deciding on which countries to expand your business to can be a complex and difficult decision. As an aspiring entrepreneur, you might have heard of the lucrative business environment for MSB in Canada and might be wondering about the obligations to consider when starting a money services business as well...

In recent times, “cryptocurrencies”, “Bitcoins” and digital assets have become buzzwords and are taking the financial landscape by storm as people rave about their massive earnings and upsides. With its influence garnering support and increase in adoption rates, the digital currencies and assets have become an undeniable form of investment...