How to Apply For a Forex Bureau License in Egypt

4 min



Step I

Book an appropriate name with the Commercial Registrar of Companies and write to the Central Bank of Egypt to seek approval for the name. The name should incorporate the words Forex Bureau, Foreign Exchange Bureau or Bureau de Change.Step II

After the name has been approved by the Central Bank, register the company and then make a formal application to the Director, Bank Supervision Department, Central Bank of Egypt in a duly completed FORM attaching the following documents:

  • non-refundable application fee of EGP2,000 (bankers cheque payable to the Central Bank of Egypt);
  • a certified copy of a statement of affairs of the applicant;
  • a certified copy of the applicants memorandum and articles of association;
  • a certified copy of the applicants certificate of incorporation;
  • a feasibility study including financial projections for three years (balance sheet, profit and loss account and cash flow statements), organizational structure, physical location and postal address;
  • bank statements of the bureaus shareholders and directors for a period of six months prior to the date of application;
  • duly completed fit and proper forms for the shareholders, directors and principal officers of the bureau;
  • credit reports from a credit reference bureau for the shareholders, directors and the principal officers of the bureau;
  • a declaration by the applicant that none of its directors and/or shareholders has ever been declared bankrupt, participated in the management of a collapsed institution, convicted by any court of competent jurisdiction in Egypt or elsewhere of a criminal offence involving fraud, money laundering, tax evasion, or any other act of dishonesty;
  • a declaration by the applicant that none of its directors and/or shareholders holds a similar position or role in any other forex bureau;
  • an undertaking by the applicant to comply with the provisions of the Central Bank of Egypt Act, the Regulations, the Forex Bureau Guidelines and any instructions/ directions issued by the Central Bank of Egypt regarding the establishment and operations of forex bureaus at all times; and
  • any other information as may be required by the Central Bank of Egypt.

Step III

The Central Bank shall within 90 days of the date of lodging the application:

  • request for additional information for purposes of processing the application;
  • where it is satisfied that all the necessary requirements have been met, issue a letter of intent to the applicant advising the applicant to;

Step IV

  • pay the licence fee of EGP5,000 to the Central Bank of Egypt by bankers cheque;
  • transfer the non-interest bearing deposit of US$30,000 to the central Bank of Egypt offshore account;
  • invite the Central Bank of Egypt to inspect the bureaus premises prior to commencement of business.

Step V

Upon fulfillment of the above requirements or otherwise the Central Bank shall:

  • issue a licence 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.

Step VI

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.

  • Notify the Bank of Egypt of its Shareholders,directors and Staff of the Forex Bureau including the following details:
  • Names
  • Residential Address
  • Specimen signature
  • Recent passport size photos endorsed by the Bureau Directors.

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Required Documents

  • Proper book keeping Register
  • Academic Qualification documents
  • designation and specimen signature of the staff members
  • Address of applicant
  • evidence of provisional tax payment
  • A tax clearance certificate.

Office Locations & Contacts

Central Bank of Egypt

Contact Information

Central Bank of Egypt

54 El-Gomhoreya Street

11511, Cairo Egypt


Tel:+202 27702770

Tel:+202 27701770

Tel:+202 25976000

Emails: General enquiries / Complaints HelpDesk

Fax:+20 2 25976081

You can visit this link for various foreign Forex bureau : by Google


  • A Forex bureau may be established by any eligible corporate body or corporation duly licensed by the Central Bank of EGypt to buy foreign currency and draft and sell foreign currency.
  • A Forex Bureau applicant must be an Egyptian Nationality.
  • All Individual or company registered for Business in Egypt with the Commercial Registrar of Companies.


  • 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 Egypt by bankers cheque; .


Valid for 5 years

No person shall carry out a Forex business unless he/she is in possession of a Forex Bureau business License.
A person who fails to contravenes or fail to comply with section 88 shall be guilt of any offense and shall be dealt with in accordance with law.

Required Information
Full Name of Applicant
Address of Applicant
Location of Foreign Exchange Bureau
License Number
A tax clearance certificate.
Evidence of provisional tax payment
Full names, addresses and designations of the employees of the bureau.
Proof of legal identification. Your national driver’s license or international passport are the best for this.
Proof of legal address. House rent receipts, and utility bills stating your house address are acceptable.
Bank statement. Not all Authorities require this except for further verification purpose or alternatives.
Utility Bill Receipt. Some Authorities require this to further verify your legal identity and proof of social responsibility.

Need for the Document
Following the passage of the Unified Banking Law, No. 88/2003, on June 15th 2003, the Central Bank of Egypt (CBE) enjoys clearer, stronger oversight powers in the foreign-exchange market. Banks are governed by Banking Law (Law 88 of 2003)and supervised by CBE (Four Bank). d The steps required to Apply for a Forex Bureau License are quite easier due to the virtual nature of the License.

The new law gives a stronger hand to the Central Bank of Egypt (CBE) in regulating the foreign-exchange market.Forex Bureaus were established and first licensed in January 2001 to foster competition in the foreign exchange market and to narrow the exchange rate spread in the market.

If you are planning to conduct a Forex bureaus business you need to follow the Forex Bureau regulated Rules under the provisions of the sections No.88/2003 and other written laws governing the operation of the Forex Bureau in Egypt.

The central Bank of Egypt Act (Cap 162&93) and Guidelines issued thereunder enumerate all the required procedure to Run a Forex Bureau Business in Egypt .

The Forex Bureau Guidelines are therefore issued under the Central Bank of Egypt Act.

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