Buying and selling foreign currency, for travellers, businesses or remittance adjacent services, requires an RBI money changing license. Unauthorised dealing in forex is a FEMA violation with severe consequences.
Krishna TaxNova obtains FFMC licenses end to end: eligibility structuring, the application file, RBI clearance and the KYC/AML systems that money changers must run from the first transaction.
What is FFMC License?
Full Fledged Money Changers are authorised under FEMA to purchase foreign exchange from residents and non residents and sell it for private and business travel. Eligibility requires a company with minimum net owned funds of twenty five lakh rupees for a single branch (fifty lakh for multiple branches), fit and proper directors and suitable premises. Licenses are renewable, and operations follow RBI’s KYC, AML and reporting norms including transaction registers and suspicious transaction reporting.
Who Should Apply for FFMC License?
- Travel companies adding currency exchange
- Entrepreneurs opening money changing outlets
- Businesses in tourist and airport catchments
- Existing RMCs upgrading to full fledged status
Benefits of FFMC License
Lawful Forex Dealing
The license authorises currency purchase and sale that is otherwise illegal.
Tourist Economy Revenue
Margins on currency conversion in travel corridors are attractive.
Business Travel Services
Corporate clients need compliant forex for overseas travel.
Branch Scalability
Higher capital unlocks multi branch operations under one license.
Franchise Structures
FFMCs can appoint franchisees under RBI’s agency framework.
Documents Required for FFMC License
Keep these documents ready. You can upload them using the form on this page or send them to us on WhatsApp.
- Incorporation documents with money changing objects
- Net owned fund proof with CA certificate
- Director KYC and confidential reports from bankers
- Premises proof for the proposed outlet
- Board resolution for the application
- Declaration of no criminal proceedings against directors
Step by Step Process for FFMC License
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Step 1: Eligibility Structuring
Company, capital and premises are aligned to RBI requirements.
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Step 2: Application Filing
The application with annexures goes to the RBI regional office.
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Step 3: Clearance Process
RBI scrutiny and empanelment checks are followed through to license issue.
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Step 4: Systems Setup
Registers, KYC/AML procedures and reporting formats are implemented.
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Step 5: Operations and Renewal
Concurrent audit arrangements and renewal timelines are tracked continuously.
FFMC License at a Glance
Estimated Timeline
3 to 6 months including RBI processing
Governing Authority
Reserve Bank of India (RBI), Foreign Exchange Department
Validity
Renewable as per license terms
Government Fees
NOF of 25 lakh (single branch) or 50 lakh (multi branch)
Why Choose Krishna TaxNova for FFMC License?
Money changing is an AML supervised business. We deliver the license with the transaction registers, reporting lines and concurrent audit setup that keep RBI inspections uneventful.
CA Led Team in Delhi
Your work is handled by a qualified Chartered Accountant team, not a call center. You get correct advice the first time.
Upload Documents Online
Share everything from your phone or laptop. Use the secure upload form on this page or simply WhatsApp us your documents.
Transparent Pricing
You approve a clear quote before we start. No hidden charges at any stage.
End to End Support
From document collection to final approval and post registration compliance, one team stays with you throughout.
FFMC License: Frequently Asked Questions
Can a proprietorship get an FFMC license?
No, the applicant must be a company registered under the Companies Act with the prescribed net owned funds. We structure the entity as the first step.
What is the difference between FFMC and AD Category II?
FFMCs handle currency exchange for travel; AD-II licenses permit a wider set of remittance transactions. Ambitious forex businesses often plan FFMC first, AD-II later, a path we map with you.
Can FFMCs sell forex for education or medical remittances?
Those outward remittances belong to AD category banks and AD-II entities; FFMC scope centres on travel related exchange. We keep your product set inside the authorisation.
What compliance runs day to day?
Daily registers of purchases and sales, KYC documentation by transaction slab, suspicious transaction reporting and periodic returns to the RBI. Our setup makes these routine from launch.
How long does FFMC License take?
In most cases the work is completed in 3 to 6 months including RBI processing. The exact time depends on how quickly documents are shared and on processing time at the department. We keep you updated at every stage.
What documents are needed for FFMC License?
The key documents include incorporation documents with money changing objects, net owned fund proof with ca certificate, director kyc and confidential reports from bankers, premises proof for the proposed outlet. Our team shares a simple checklist after the first call so nothing is missed.
Can I complete FFMC License fully online?
Yes. The entire process is online. Fill the form on this page, upload your documents or WhatsApp them to us, and our experts handle the filings. You do not need to visit any office.
Which authority handles FFMC License?
FFMC License falls under Reserve Bank of India (RBI), Foreign Exchange Department. Krishna TaxNova prepares and files your application in the required format and responds to any queries raised by the department.
What is the validity of FFMC License?
The validity is renewable as per license terms. We send renewal and compliance reminders in advance so you never miss a due date.
Do you provide FFMC License outside Delhi?
Yes. We are based in Delhi and serve clients across India. Since the process is fully online, your location does not matter. Documents can be shared through the website or WhatsApp.
Get FFMC License Done by Experts
Fill in your details, upload your documents online or send them on WhatsApp. A qualified CA will review your case and call you back with the exact steps and a fixed quote.