ComplyKart Services
Full Fledged Money Changer
Package Inclusions:
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Expert FFMC Advisory Service
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Private Limited Company Incorporation
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Document preparation for FFMC License
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FoFFMC Application filing with RBI
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Liaison with the RBI for quickly FFMC License
CA/CS-guided review
Your documents and structure are checked before anything is filed.
Written scope first
Inclusions and payable charges are explained before work begins.
Support till it’s done
One team owns your filing, from the first call to the final handover.
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Experience behind every filing
A quick snapshot of the work so far.
Fees
Fees and packages for Full Fledged Money Changer
Every requirement is a little different, so we quote after a short discussion — the consultation itself is free.
Custom quote
Full Fledged Money Changer
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Full Fledged Money Changer License Package Inclusions
- RBI FFMC application preparation
- Rs. 25 lakh NOF (single branch) documentation
- AML/KYC and reporting framework
- Branch and agent network plan
- Application follow-up until RBI license
Overview
WHAT IS FULL-FLEDGED MONEY CHANGER
Full Fledged Money Changer is an entity authorized by the Reserve Bank of India to deal in foreign exchange and offer essential foreign exchange services under Section 10 of the Foreign Exchange Management Act, 1999. A FFMC is an entity who purchase foreign exchange from non-residents or residents of India and sell the same for private and business travel purposes to the people visiting abroad. An Authorized money changer may either be a restricted money changer or Full-Fledged money changer.
In India people are not authorized to carry out the business of money changer unless they own a valid money changer’s license issued by the RBI. Any sort of money changing business without a valid license is liable to be penalised under FEMA Act. FFMCs may also setup franchisees or branches to undertake business of foreign currency.
To get a FFMC license, one has to register a company registered under the Companies Act, 2013with a minimum Net Owned Funds (NOF) of Rupees 25 lakh for a Single branch FFMC and Rupees 50 lakh for a Multiple branch FFMC. The main objective of such company must reflect the business of money changing into its Memorandum of Association (MOA). Within 6 months of getting the FFMC License the company is required to start the business of money changer and inform it to RBI. The Directors of the Entity undergo a review process under the “Fit and Proper” criteria by the RBI.
Renewal of License of Full-Fledged Money Changer
To renew the license, an application must be made before 1 month from the date of expiry of license with supporting documents. Once the License is expired, application for restoration of money changer’s license shall not be accepted by RBI.
Register and Records maintained by FFMC
Form FLM-1-Daily Summary and Balance book of the Foreign currency notes/coins.
Form FLM-2-Daily Summary and Balance book of Travelers’ cheques.
Form FLM-3-Register of purchases of the foreign currencies from the public.
Form FLM-4-Register of purchases of the foreign currency notes/ coins from authorized dealers and authorized money changers.
Form FLM-5-Register of sales of foreign currency notes/ coins and foreign currency travellers’ cheques to the public.
Form FLM-6-Register of sales of the foreign currency notes/ coins to authorized dealers/ Full Fledged Money Changers/ overseas banks.
Form FLM-7-Register of travellers’ cheques surrendered to the authorized dealers/ authorized money changers/ exported.
FFMC License can be revoked by RBI on the following grounds:
If to revoke the license is in public interest.
If the FFMC has failed to comply with provisions of the Foreign Exchange Management Act, 1999.
The existing conditions of a money changer's license may be altered by Reserve Bank or new conditions can be imposed.
Benefits
Advantage of FFMC License
Open each benefit to see what it means for you.
Authorised to Provide service
Full-Fledged Money Changer is a only entity authorized capable of providing sales facilities for foreign exchange.
Certificate of Encashment
A FFMC can provide Certificate of Encashment upon purchase of coins, foreign currency notes, and Travelers' cheques from residents and also from non-residents.
Easy working process
Having a FFMC License make it easy to take in and take out Foreign Exchange.
Rate of exchange
FFMC deal into transactions related to coins, Travelers' cheques and foreign currency notes at rates of exchange in alignment with ongoing market rates.
Documents
Documents required for an FFMC licence
Clear, current documents matter more than a long checklist. Names, dates of birth and addresses should match across every record — that's what the MCA checks first. Tick what you already have below.
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Tick what you already have. This checklist resets when you leave the page.
Company and financial documents
Verified against MCA requirements
KYC and operational details
Verified against MCA requirements
What is a CIN?
Every Private Limited Company gets a unique 21-character Corporate Identification Number from the MCA. It's proof your company legally exists. You'll need it for bank accounts, tax filings, and contracts. We handle the entire application — you just provide the documents above.
Not sure if your documents are ready?
Send us what you have. A ComplyKart expert will review them for free and tell you exactly what's missing — no obligation.
Get Free Document ReviewQuestions Founders ask us about documents
What if my address proof is old?
Utility bills and bank statements must be less than 2 months old. If yours are older, get a fresh copy — the MCA rejects stale proofs.
Do I need original documents?
No. Clear scans or photos work for the entire process. We never ask you to courier originals.
What if directors live in different cities?
That's normal. Each director uploads their own documents separately. Our system keeps everything organised.
I'm outside India. Can I still register a company?
Yes. India allows 100% foreign ownership in most sectors, and the entire process happens online. You need one Indian resident director, and your passport + address proof must be apostilled — we'll guide you through both. NRI founders and foreign investors do this with us regularly.
Check if you're eligible →How long does registration actually take?
7 to 10 working days from the day your documents are verified. Name approval takes 2-3 days, MCA incorporation another 5-7. We track every stage and update you.
Can I start if I'm missing one document?
Yes. Start now with what you have — we begin name reservation and DSC while you arrange the rest. Most founders are missing one proof; it rarely blocks the timeline.
Process
FFMC licence process — step by step
You’ll see each stage, what’s pending and what we need from you — so filings don’t bounce back.
Step 1 of 6
Meet the net owned funds requirement
You need minimum net owned funds of Rs. 25 lakh for a single branch or Rs. 50 lakh for multiple branches.
Prepare the application to RBI
FFMC licences are issued by the Reserve Bank of India to eligible companies.
Submit to the RBI Regional Office
File the application with all financial and KYC documents at the regional office covering your area.
RBI scrutiny and inspection
RBI verifies the capital, ownership, and compliance systems of the applicant.
Licence issuance
On approval, the FFMC licence is granted. Licences are renewed by RBI periodically.
Follow ongoing compliance
Maintain the prescribed registers, file returns with RBI, and follow AML and KYC directions strictly.
For NRI founders & foreign investors
If a founder or investor is outside India
You don't need to fly down. Most of our foreign-founder incorporations are completed without the founder ever visiting India — 100% foreign ownership is allowed in most sectors, and the entire process happens online.
Before you start
- 100% foreign ownership is allowed in most sectors — no Indian partner needed
- One Indian resident director is required by law — we help you find a compliant way forward
- Check whether your sector permits automatic-route foreign investment
- Your passport + address proof need an apostille, not an embassy visit
- Map ownership, beneficial ownership and pricing early
After incorporation
- Receive funds through permitted banking channels
- Complete RBI/FEMA reporting (FC-GPR, FLA) and keep the bank evidence
- Coordinate tax and ongoing compliance advice early
Free 15-minute eligibility call. No obligation.
What clients say about working with us
Real stories from businesses we've worked with.
Our Trademark was applied in all the classes with a short span of time by Complykart Trademark Experts and I can say the level of expertise and commitment they carry is remarkable. It's an A+ from my side. We are now sticking to ComplyKart only.
I found the professionalism of the staff at complykart.com, a pleasure to work with. As a foreigner to India, they took the time to explain the documentation and assisted in every question I raised. I was pleased that complykart.com made it easy for my Business.
Trust, Commitment, Dedication and responsiveness are the best things with ComplyKart. Thanks for handling our Merger assignment with so much care. After my business disputes, complykart handles all things with own sense of understanding.
Trust & transparency
Sources & how we keep this page accurate
Primary sources we refer to:
- Ministry of Corporate Affairs (MCA)
- GST Portal
- Income Tax Department
- IP India (Trademark / Patent / Copyright)
Last verified: 6 October 2026
Compliance rules change. If something on this page looks outdated, tell us on WhatsApp and we'll fix it — and your filing will always follow the current rules, not just what's written here.
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