Are you searching for FFMC License? Get All The Information Related to Full Fledge Money Changer (FFMC) License. We are the Best Consultant for RBI FFMC License Providing Service Across India. Explore FFMC License Features, Requirements, Process, Documentation, Compliance etc
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What is FFMC License?
In India, Only Reserve Bank of India (RBI) Authorized Money Changer can deal in currency exchange services. As per Section 10(1) of Foreign Exchange Management Act, 1999 RBI Can grant Full Fledge Money Changer (FFMC) License to undertake sale and purchase of foreign exchange for specified purpose like private and business travel abroad. Thus, Full Fledge Money Changer License Required for Doing Business as Authorized Foreign Exchange/Money Changing Activity in India. Reserve Bank of India (RBI) Issues the License commonly known as FFMC License.
Following transaction can be carried by Full Fledge Money Changer
- FFMC can purchase any foreign currency notes, coins or traveler’s cheques from Resident or Non Resident of India.
- Full Fledge Money Changer can Sell India Rupee (INR) to foreign visitors and tourist against International Debit Cards/Foreign Currency/Prepaid Card/Prompt Methods.
- FFMC allowed to deal in foreign exchange for Private Visits, Business Visit, Tourist etc.
FFMC License Consultant
We Provide Complete Consultancy of RBI FFMC License. We are India’s Best FFMC License Consultant Serving Guaranteed License Process. We Serves following services in regards to FFMC License
- Incorporation of Company (if required by client)
- FFMC License Related Ancillary Registration
- Document Preparations
- Declaration and Board Resolution Drafting
- Undertaking Related Drafting
- Projection of FFMC, Balance Sheet and Profit Loss Account
- Net Worth Certificate
- CA Documents
- AML KYC Policy Drafting
- Filing of Application With Complete Attachments
- Process With Department
- Support During License Process
- Till License Approval (We Provide Updates and Support, Incase required we regular visits Department)
Minimum Criteria to be Fulfilled
Full Fledge Money Changer License Application can be filled if they are (Check Detailed Criteria – Click here)
- Company Entity (Private Limited or Limited)
- Minimum Net Owned Fund (Net Worth) is Rupees Twenty Five Lakhs for Single Branch (and Rupees Fifty Lakhs for Multiple Branch License)
- Director Must have Clean Criminal Record