Electronic Money Institution Licence in Canada
Fast registration, growing fintech market. FINTRAC regulated. Capital from No capital requirement. Typical timeline 6 to 8 weeks.
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Tell us the business, the markets and your timing. Every enquiry is answered the same business day, with a written proposal: the licence, the requirements, the cost and the timeline.
Your enquiry
Why Canada for Your Electronic Money Institution Licence?
Canada offers fast registration, a growing digital payments market, and proximity to the United States.
Canada's FINTRAC registration covers e-money related activities. Provincial regulations may also apply depending on the specific activities undertaken.
Licence requirements
Detailed requirements
No minimum capital requirement for federal registration. AML/CFT compliance programme required. Provincial requirements may apply.
Application process
Regulatory Strategy
We assess your business model and regulatory position to develop a clear licensing strategy.
Business Plan
We prepare a comprehensive business plan meeting the regulator's expectations.
Programme of Operations
Detailed programme of operations covering governance, compliance, and operational arrangements.
Compliance Framework
Full AML/CFT framework, compliance monitoring programme, and risk management policies.
Application Submission
We compile and submit the complete application package to the regulator.
Regulator Review
We manage all regulator communications and information requests during the review period.
Authorisation
Upon approval, we support your transition to live operations.
Process detail
6 to 8 weeks for federal registration.
Canada vs United Kingdom
| Criteria | Canada | United Kingdom |
|---|---|---|
| Capital | No capital requirement | £350k |
| Timeline | 6 to 8 weeks | 6 to 12 months |
| Regulator | FINTRAC | FCA |
| Key Feature | Fast registration, growing fintech market | Full EMI or Small EMI available, UK market access |
Related services
Licensing & Authorisation
Full-service licensing advisory from strategy to authorisation.
Compliance Support
Ongoing compliance frameworks tailored to your regulatory obligations.
Financial Crime
AML, KYC and financial crime prevention programmes.
Ready to get started?
Every enquiry is answered the same business day, with a written proposal.
Speak to a licensing expertFrequently asked questions
The capital requirement for a electronic money institution licence in Canada is No capital requirement. No minimum capital requirement for federal registration. AML/CFT compliance programme required. Provincial requirements may apply.
The typical timeline for a electronic money institution licence in Canada is 6 to 8 weeks. 6 to 8 weeks for federal registration.
Canada offers fast registration, a growing digital payments market, and proximity to the United States.
After receiving your electronic money institution licence in Canada, you must maintain ongoing compliance with regulatory requirements including safeguarding of customer funds, regular regulatory reporting, maintaining adequate capital, updating AML and compliance frameworks, and cooperating with supervisory reviews and inspections.
Most jurisdictions require local substance for a electronic money institution licence. In Canada, you will typically need a registered office, at least one locally resident director, and potentially additional operational staff. We can advise on the exact requirements and help you establish the minimum viable local presence.
A electronic money institution licence in Canada provides access to the domestic market. Fast registration, growing fintech market. Separate authorisation may be required for other jurisdictions.