Egypt - Apply for Foreign Exchange Bureaus License or Permit

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Procedure

Apply In-Person:

1. To Apply for Foreign Exchange Bureaus License or Permit in person, the applicant central bank of Egypt Contact link
2. Visit the Authority to obtain the application form.
3. Complete the application form correctly and then write a cover letter addressed to the Authority and indicate the activities of the company.
4. Then the applicant should obtain all the required supporting documents as mentioned in the “Required Documents” section below and attach the document and the cover letter to the completed application form in a single file.
5. Request for additional information for purposes of processing the application.
6. where it is satisfied that all the necessary requirements have been met, issue a letter of intent to the applicant.
7. Pay the license fee of EGP5,000 to the Central Bank of Giza by bankers' cheque.
8. transfer the non-interest-bearing deposit of US$30,000 to the Central Bank of Giza offshore account.
9. Invite the Central Bank of Egypt to inspect the bureau's premises prior to the commencement of business.
10. Upon fulfillment of the above requirements or otherwise the Central Bank shall: issue a license to the applicant; or inform the applicant in writing that the application has been declined and advise the unsuccessful applicant that an appeal to the Central Bank for review of the decision to decline may be lodged within 30 days from the date thereof.
11. On receiving the license from the Central bank of Egypt, the applicant must obtain the certificate of commencement of Business from the registrar of companies, and submit a copy to the Central bank of Egypt.
12. The application is processed within 60 days.

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Required Documents

• Memorandum and article of association.
• Certificate of incorporation.
• Proof of investment.
• Documentary proof of capital to be invested.
• Registration certificate of the company OR certificate of incorporation.
• Copies of personal and company PIN (Personal Identification Number) if the business is running.
• For renewals; audited accounts for the previous 2 years and a certificate of tax compliance
• Cover letter.

Office Locations & Contacts

Central Bank of Egypt
Map. Address: 54 El Gomhoureya St. 11511,
Cairo Governorate, Egypt.
E-mail: [email protected];
Contact number of Central Bank of Egypt: 02 27702770.
Telephone: 16777.
Contact link

Eligibility

• All Individual or company registered for Business in Egypt with the Commercial Registrar of Companies.

Fees

• A non-refundable application fee of EGP2,000 (bankers cheque payable to the Central Bank of Egypt)
• A license fee of EGP50,000 payable to the Central Bank of Giza by bankers cheque.

Validity

• Validity for this permit is 5 years.

Documents to Use

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Sample Documents

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Processing Time

• The application is processed within 60 days.

Related Videos

Videos explaining the procedure or to fill the applications.
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Instructions

• For issuance of a license, please submit the duly completed form, to the CBE
• For purposes of an application for a new license, an applicant is required first to seek approval name from the Central Bank of Egypt and thereafter will be advised on the documents to be submitted together with the duly completed form.
• Upon satisfying all the requirements and paying the applicable licensing fees the applicant will be issued with a license.
• All information provided shall be treated as confidential.

Required Information

• Full Name of Applicant
• Address of Applicant
• Location of Foreign Exchange Bureau
• License Number
• Full names, addresses, and designations of the employees of the bureau.

Need for the Document

• A license is required by CBE to purchase foreign exchange from residents and non-residents visiting Egypt and to sell foreign exchange for specifically approved purposes.

Information which might help

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Other uses of the Document/Certificate

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e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

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