Forex Bureau license
To increase transparency of remittance and payment flows in and outside Uganda by ensuring that anti-money laundering and
the combating of the financing of terrorism measures are observed in the forex bureau business
- Purpose: To increase transparency of remittance and payment flows in and outside Uganda by ensuring that anti-money laundering and
the combating of the financing of terrorism measures are observed in the forex bureau business
- Application Fees: 400,000 Ugx
- License Fee: 1,000,000 Ugx
- Maximum Processing Time: 3 Months
- Related Websites: <a href="https://www.bou.or.ug/bou/home.html">www.bou.or.ug</a>
- Validity: 1 Year
- Contact Office: <a href="https://www.bou.or.ug/bou/home.html">Bank of Uganda</a>
- Renewal Fee: 1,000,000 Ugx
- License Type: License
- Legal Basis: The Foreign Exchange Act, 2004. The Foreign Exchange (Forex Bureaus and Money Remittance) Regulations,2006
- <ul><li> If owned by a bank, be registered as a wholly owned subsidiary of
that bank.</li><li>A bank statement for the period of six months before the
submission of the application.</li><li>Must be a company registered under the Companies Act as a limited
liability company whose main objective is to conduct foreign
exchange bureau business.</li><li><font color="#3366ff"><a href="http://ursb.go.ug/services/business-registration/registering-a-new-company/" target="_blank"><b>A</b> certificate of incorporation and memorandum and articles of association from Uganda Registration Services Bureau.</a></font></li><li>A certified copy of the resolution of the board of the proposed forex bureau authorising the submission of the application.</li><li>A minimum paid up share capital of not less than one
thousand currency points.</li><li>Business and financial plans.</li><li>Individual references relating to the fit and proper status of each of the applicant’s shareholders and proposed directors.</li><li>Particulars of the applicant’s bankers. <br></li><li>Proposed management, directors and owners who must be persons of
good repute and integrity with the necessary qualifications
and competence required to run a forex bureau.</li><li>Provide the name and full address, including telephone and email
address of the proposed forex bureau. </li><li>Should have a fixed and identifiable place of business that is accessible to
the public and suitable in all
respects for the business of a
forex bureau.</li><li>The applicant’s memorandum and articles of association.</li><li>The names and curriculum vitae of all the applicant’s proposed
shareholders and management team.</li><li>Work permits for all non-Ugandan directors and employees of the applicant.</li><li>Any other information that the Bank of Uganda may request the
applicant to provide.</li></ul>
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- Tel: +256 414 259090, +256 417 302000, +256 312 392000
- Physical Address: Head Office, Plot 37/45 Kampala Road
- Postal Address: P.O Box 7120, Kampala, Uganda
- City: National
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- Website: www.bou.or.ug
- Operating Hours: Moday to Friday, 8:00am-5:00pm (excluding weekends and public holidays)
- Directions:
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