Licence Application Details
The information below will help you complete form SM-3-V, Money-Services Business Licence Application.
- Information about the money-services business
Enter the requested information about the money-services business (MSB).
- Activities of the money-services business
Specify which money services the business offers.
Provide details regarding the business's activities and explain how the money services the business offers fit into its everyday activities.
- Background of the money-services business
Enter the requested background information for the MSB.
- Information about employees whose duties are unrelated to the offer of money services
Complete this part of the form for each employee who does not contribute to an activity related to the offer of money services.
If you are applying for a licence exclusively for the operation of automated teller machines (ATMs), you are not required to complete this part of the form.
- Information about establishments
If the MSB has more than one establishment or branch, provide the address of each one. Do not reenter information you provided in Part 1 of the form.
- Information about financial institutions
Enter the requested information for all the financial institutions the MSB deals with.
- Information about people associated with a lender that is neither a financial institution nor a natural person
Provide information about each person associated with a lender (that is neither a financial institution nor a natural person) of the MSB.
People associated with a lender that is neither a financial institution nor a natural person are the lender's officers, directors or partners.
Indicate which positions each person associated with a lender holds. Enclose a copy of a piece of photo ID for each person.
Answer the questions regarding the background of each person associated with the lender. Note that answering No may have a negative impact on the issue of a licence.
- Information about the ATMs
Complete this part of the form only if the MSB operates one or more ATMs. You have to complete this part for each ATM.
There are two types of ATMs:
If the MSB operates an ATM in a commercial space it uses as a tenant, provide the information about the lessor of the commercial space if the lessor is responsible for supplying the ATM with cash.
You must enclose the following documents with form SM-3-V:
- a document describing the legal structure of the money-services businesses (MSB) (for example, a copy of the registration declaration filed with the Registraire des entreprises, or a copy of the articles of incorporation or the partnership agreement) and, if applicable, giving the name of the MSB's parent company and all subsidiaries;
- the MSB's business plan and its financial statements for the last fiscal year, unless its only money services are the operation of ATMs;
- an official document confirming the appointment of a respondent for MSB;
- form SM-3.A-V, Declaration of a Person Associated With a Money-Services Business, and any documents that need to be enclosed with it (for more information, see the Information About a Person Associated With a Money-Services Business page.
You must also enclose the fees payable for the money services the licence application covers. The fees are different for each type of money service.
Send form SM-3-V and the required documents to the following address:
C. P. 25900, succursale Terminus
Québec (Québec) G1A 0B9
We will begin our review of the licence application on receipt of form SM-3-V and the required documents.
If your form is incomplete or a required document is missing, we will send you a letter. You must then send us the missing information or documents.
When we have all the required information and documents, we will ask the Sûreté du Québec and the police force in the local municipal territory where the money-services business (MSB) plans to offer money services to prepare one or more security clearance reports. You will be invoiced for each report requested.
Once we have concluded that there is no restriction to issuing a licence and that all fees have been paid, the MSB will receive its licence by mail. If the MSB operates automated teller machines (ATMs), it will receive the decals it has to place on the ATMs. Refer to instruction sheet SM-22.1.G-V, Decal Instructions: Automated Teller Machines, to ensure you affix the decals properly. Only original decals are authorized on an ATM.
If, in reviewing the licence application, we conclude that there are grounds for not issuing a licence, we will contact you. We will let you know how long you have to provide a written explanation or a document needed to complete the MSB's file.