How much are the licence fees?
Fees per class of licence
Along with the completed access form, the MSB must pay fees of $640 for each class of licence filed (except in the case of a licence filed for the “Operation of automated teller machines”). If the MSB files an application for a licence in three classes of money services, the amount of fees payable will be $1,920.
An amount of $213 per ATM will be charged to the business for the class of licence “Operation of automated teller machines.”
Charges for the issue of security clearance reports
Along with the completed licence application, the MSB must pay fees of $119 for each security clearance report the AMF is required to request from the Sûreté du Québec.
A security clearance report must be issued for each natural or legal person that has a business relationship with the money-services business (see step 4 of the Money-Services Business User Guide (pdf - 2 MB)This link will open in a new window).
A report must also be issued for the MSB itself and for its respondent.
I am the sole owner of my business. Do I still have to disclose business relationships?
As the sole owner, you must disclose at least the following business relationships:
- Officer of the money-services business;
- Person who has ownership or control of the business (natural person);
- Branch manager (linked to your head office, if money services are offered at head office);
- Employees with money services functions;
- Financial institution.
As you are the person concerned by these business relationships, use the function 'Select a person already disclosed' to quickly disclose your business relationships.
A natural person has several business relationships within my business. Can I disclose only one relationship?
You must disclose all business relationships that apply to a person. Use the function 'Select a person/entity already disclosed' to disclose all relationships quickly.
You may send only one appendix for this person: the one that is alphabetically the closest to A. Also, only one payment of $119 applies to the issue of a security clearance report.