The possession and acquisition licence (PAL; French: permis de possession et d'acquisition) is the primary firearms licence under Canadian firearms laws. The PAL is the only licence issued to new adult firearms licence applicants in Canada; it is both required and the only permissible document for a person to possess and acquire, or permanently import a firearm. Applicants for a PAL must be 18 years of age or older. Minors 12–17 can apply for a minor's licence to borrow non-restricted firearms only.

There is no requirement of citizenship or residency (although different forms, and slightly different requirements apply). A non-resident firearms declaration form that has been confirmed by a Canada Border Services Agency officer serves as a temporary firearms licence for non-residents that are visiting Canada for fewer than 60 days. Unlike a PAL, however, the non-resident firearms declaration is considered a valid temporary licence only for the specific firearms declared and does not permit the holder to borrow any firearms.

There is a separate licensing system to transport restricted firearms (authorization to transport). In other words, while a restricted-class PAL (RPAL) may permit a person to purchase a restricted firearm, it does not in itself permit that person to transport it from the store to their home. (This particular case can become an endorsement on an RPAL.) For non-restricted firearms, separate authorization to transport is not required.

Other firearm licences for individuals include:

NOTE: While issued licences read either "Possession • Acquisition" or "Possession Only", the Firearms Act and regulations refer to either "possession and acquisition licence" or "possession licence", without the word only.

All licensing of firearms in Canada is managed by the Canadian Firearms Program of the Royal Canadian Mounted Police. In the Canadian system, there are three classes of firearms and firearm licences: non-restricted, restricted and prohibited.

A possession and acquisition licence is a licence that allows individuals in Canada to possess and acquire firearms as well as ammunition. Licences are typically valid for five years and must be renewed prior to expiry to maintain the licensed classes. If a person possessing a PAL is convicted of certain offences, the PAL can be revoked. If a person does not renew their PAL prior to its expiration date or if they have their PAL revoked, they must legally dispose of any firearms in their possession. A licence for prohibited firearms can be issued to qualifying businesses, and very rarely to individuals (firearms they own, as the gun laws changed over time.) Previous convictions for serious violent, drug or weapons offences almost invariably result in the denial of the application.

A PAL is generally obtained in the following three steps: