Money Changer (Forex) FFMC

APPLICATION FORM & REQUIRMENT FOR FFMC LICENSE UNDER SECTION 10(1) OF FEMA, 1999

  1. Name of  location/s  where  the  applicant  proposes  to  conduct Money Changing Business (Please enclose copies of Licenses under Shops and Establishment Act )
    • Date of establishment of the company (b) Name/s and address/es of the Directors of the company

  1. Copy of the Certificate of Incorporation of the company and copy of  the  Certificate  of  commencement  of  business  of  the company.

  1. Copy of  Memorandum  of  Association  together  with  a  letter  indicating   the   clause   which   provides   for   taking   up   money  changer’s business.

  1. Confidential report from the applicant’s bank/s in CIR format.

  1. Net Owned Funds CA Letter.

  1. Declaration to  the  effect  that  the  company  and  any  of  its  directors  are  not  under  investigation/  adjudication  of  any  law  enforcing  agencies,  such  as  ED/DRI  &  also  that  no  criminal  proceedings filed by Crime Investigation Agencies are pending against the company or any of its directors.

  1. Undertaking to   post   competent   staff   to   handle   the   money changer’s business.

  1. A brief  write  up  of  the  activities  of  the  applicant/  nature  of business.

  1. Any other particulars / special reasons the applicant may wish to state in support of the application.

 

Enclosures:-

  1. Bankers’ confidential Report
  2. Attested copies of audited accounts for the past 3 years.

Note:- Single branch FFMCs shall have net owned funds not less than Rs. 25 lakh while FFMCs intending to operate through more than one branch will have to maintain net owned funds not less than Rs. 50 lakh.

Interested to Make application for Money Changer or get advisory and solution regarding it’s legal compliance then feel free to make a call back request or email with complete info to: ask@moneychanger.in
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