Bureau de Change Licence

A Bureau de Change is a business licensed under the Bank of Botswana Act to carry out the business of buying and selling foreign currency. These businesses are licensed to give members of the public assurance that the businesses are operating prudentially and in accordance with sound business practices. Performance of Bureaux de Change is monitored by BOB and they are required to operate according to the Bureau de Change regulations of 2004. It is therefore illegal for anybody to trade in foreign exchange without a licence. Bureaux de Change may only operate from the premises approved by the BOB, and are required to observe a daily cash transaction limit per individual of P10,000.00.

Requirements for Obtaining a Bureau de Change Licence (Companies)

  1. Application forms completed in duplicate
  2. P2,240.00 application fee
  3. Certificate of Incorporation
  4. Certificate of Registration (should include the words “bureau de change”)
  5. Personal questionnaire to be completed by all shareholders
  6. Curriculum Vitae of Principal Officer(s) if not a Director
  7. Written consent from the principal/applicant allowing the Bank of Botswana to carry out a check on the financial propriety of the Directors, shareholders and Principal Officer
  8. Certified copies of official identity documents of the beneficial owners
  9. Two passport-size photos of each beneficial owner
  10. Financial reference from the current bankers of the applicant
  11. Police clearance report
  12. Minimum balance of P5, 000.00 maintained in a deposit account

Requirements for Obtaining a Bureau de Change Licence (Individuals)

  1. Application forms completed in duplicate
  2. P2, 240.00 application fee
  3. Certificate of Registration (should include the words “bureau de change”)
  4. Personal questionnaire
  5. Curriculum vitae of Principal Officer(s) if not a Director
  6. Two passport-size photos of the applicant
  7. Certified copies of the applicant's official identity documents
  8. Financial reference from the applicant's current bank
  9. Applicant's police clearance report
  10. Letter of consent allowing the Bank to carry out an independent check on the applicant's financial propriety
  11. Minimum balance of P5, 000.00 maintained in a deposit account

Renewal of Bureau de Change Licence

Bureau de change licences are renewed annually. The annual licence fee is P4, 480.00 (inclusive of VAT).

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