Licensed companies formation in Canada involves establishing business entities that require specific licenses to operate legally. These licenses could pertain to various industries such as finance, healthcare, or transportation. The formation process includes selecting a suitable legal structure, completing necessary paperwork, obtaining the required licenses, and ensuring compliance with relevant regulations, enabling the company to conduct its activities within the boundaries of the law. The process of registration of MSB companies will require various KYC documents, such as personal details about the owners and senior firm management, workers number, account information, etc. Entrepreneurs need to send name and address of Canadian representative. The representative will be primarily responsible for getting notices and documentation on behalf of the company and liaising with government structures. Upon completion of registering process, businesspersons receive an approval notice and a registration number.