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Full Fledged Money Changers (FFMC)

Money Changer is a company carries out trading activities like forex currency after a prior approval from the Reserve bank of India. These companies are sanctioned under the Foreign Money Exchange Act, 1999. The Reserve Bank of India authorizes the Business entities to deal with foreign exchange for specific purposes.  These business entities are referred to as Authorized Money Changers or AMCs.

There are three types of AMCs:

  1. Authorized Dealer Category: I Banks (AD Category-I Banks)
  2. Authorized Dealer Category: II Banks (AD Category –II)
  3. Full-fledged Money Changers also called as FFMCs

The reasons for the three types of AMCs to exist are the following:

  1. The foreign tourists have a wider access to foreign exchange facilities
  2. To a wider access to foreign exchange facilities
  3. Making sure that the customers get the most efficient service
  4. There is increased competition in the market.

In order to work as an AMC in India, the aspirant has to get an AMC License that is issued by the Reserve Bank of India. If any company dares to engage with Forex trading without the appropriate license, then they are going to get penalized.[/vc_column_text]

Eligibility Criteria for FFMC License

  1.  The applicant of the Full Fledged Money Change should be an incorporated company under the Companies act 2013.
  2. The minimum Net owned fund should be INR 25 lakhs in case of a single branch, and INR 50 Lakh in case of multiple branches.
  3. The activity of Money changing activity should be specified in the Memorandum of Association of the company.
  4. The company should be clean, and by this we mean that there should be no current legal cases lodged against the company at the department of Enforcement or Department of Revenue Intelligence.

Documents Required for FFMC License

  1. Certificate of incorporation of the company
  2. Copy of MOA and AOA of the company
  3. A confidential report from the Bank
  4. The latest copy of the latest audited license sheet along with the certificate from the statutory auditors involved.
  5. Details of Nature of the business
  6. If there is other FFMC application filed by the applicant, those are required as well.

FFMC License Procedure

  1. Company incorporation according to the Companies act 2013
  2. Collection and collation of the documents required to file the application of FFMC license
  3. Submission of these documents along with the application to the concerned department of the Reserve Bank of India
  4. Liaison with the RBI until FFMC license in acquired

After inspection of the documents and the application, the RBI grants the FFMC License


Private Limited Company

INR 7,999/-

One Person Company

INR 6,999/-

FSSAI Registration

INR 4,999/-

Section 8 Company

INR 29,999/-

Trademark Registration

INR 6,499/-

Trademark Objection

INR 2,999/-

Trademark Renewal

INR 1,999/-

Trademark Restoration

INR 2,000/-

Annual Compliances for Private Limited Company

INR 19,999/-

LLP Annual Compliance

INR 9,999/-

ROC Annual Filing

INR 19,999/-

Change in Name of the Entity

INR 4,999/-

Change of Place of the Company

INR 2,499/-

Increase in Authorized Capital of Company

INR 4,999/-

Change of Director or Partner


ISO Registration

INR 19,999/-

Import Export Code Registration

INR 3,999/-

Import Export Code Registration

INR 3,999/-

DOT OSP Registration

INR 29,999/-


Find a plan that’s right for you

Whether you’re looking to create just one project, or multiple project, we have a plan that will best match your needs.

INR 6,999/-
Sole Promoters

1 Director & 1 Nominee

Not Required

Few Tax Advantages

Moderate Compliances

7-8 Days

INR 7,999/-
Startups and Small Companies

2 Shareholders/Directors.

Not Required

Few Tax Advantages

Stringent Compliances

7-8 Days

INR 7,499/-

2 Partners

Not Required

Few Tax Advantages

Less Compliances

15-25 Days
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