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welcome everybody to another invent right comm TV show we have a mr. Steven key invent right co-founder and Im also an event right co-founder my name is Andrew Krause we got another show for you and what are we going to talk about Steve on this show so book royalties okay oh my garage Andrew how much how much money am I gonna make I want 50% man I came up with this invention I should get 50% of the profit you know am i off there I kind of a little bit thats thats a little you know thats why a lot of these deals dont make it you know you heres heres amazing Andrew we talk to a lot of people in this industry we have a lot of students a lot of students that come to us that have made mistakes and work when we think student C we call our clients students because we teach and coach and mentor we have to steal a few guys like I want to come a few years but Im not in college Im like no no youre a student when were teaching you Im coaching committee Im like okay we we look at it v

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How do I get a FINTRAC license?

To register Complete the pre-registration form(This will open a new window) online. You will be contacted by a FINTRAC officer within 5 business days. Sign in to the MSB Registration(This will open a new window) System using your user ID and password. Complete and submit your MSB registration form.

What is a FINTRAC number?

Telephone: 1-866-346-8722 (toll free) Technical support. Email: tech@fintrac-canafe.gc.ca. Electronic reporting.

What is considered a money service business?

The term money services business includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities: (1) Currency dealer or exchanger. (2) Check casher. (3) Issuer of travelers checks, money orders or stored value.

How do I get a money transfer license in Canada?

Any person or entity that wants to operate a money-services business (MSB) for payment must hold a licence under the Money-Services Businesses Act (MSBA). To get the licence, the business must file form SM-3-V, Money-Services Business Licence Application. The form should be completed by the MSBs respondent.

What is a MSB license?

An MSB is generally any person offering check cashing; foreign currency exchange services; or selling money orders, travelers checks or pre-paid access (formerly stored value) products; for an amount greater than $1,000 per person, per day, in one or more transactions.

How much does it cost to get MSB registration?

There is no fee for the federal registration.

What is FINTRAC license?

License Issuance Procedure FINTRAC (Financial Transactions and Reports Analysis Center of Canada) is the financial intelligence agency, which reviews the documents and decides on the license issue.

Who has to register with FINTRAC?

All MSBs and FMSBs in Canada must register with FINTRAC. This includes those individuals and entities who have registered or have been licensed with a province or territory. Foreign money service business include those individuals or entities that provide MSB services to Canadians with a place of business in Canada.

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