Regulatory Alerts2020-03-17
Bureau de Change Licensing Requirements
The Bank of Tanzania requires companies limited by shares incorporated in Mainland or Zanzibar to obtain a licence to operate as a bureau de change, forex bureau, or foreign exchange bureau. Applicants must pay a TZS 1,000,000 non-refundable fee, maintain a minimum paid-up capital of TZS 1,000,000,000, and submit comprehensive documentation covering director fitness, source of funds, citizenship verification, and location feasibility. These capital, governance, and operational standards are enforced under the Foreign Exchange (Bureau De Change) Regulations of 2019 to ensure market stability and regulatory compliance.
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