Want to Have a Licensed Money Changer?
Becoming a Licensed Money Changer is now easier than ever. The licensing and approval process with Bank Indonesia can now be done online through https://www.bi.go.id/elicensing. Before applying for a license, it’s recommended to:
- Understand the business processes of a money changer.
- Understand the regulations for operating a money changer.
- Understand the risks involved in its operations.
- Understand the licensing process at Bank Indonesia.
Licensing Documents
| No | Dokumen |
|---|---|
| 1 | Letter of Application |
| 2 | Copy of the Limited Liability Company Deed and its amendments. |
| 3 | Copy of ratification as a legal entity from the authorized authority. |
| 4 | Copy of domicile certificate from the authorized authority. |
| 5 | Copy of Tax Identification Number (NPWP) under the company name. |
| 6 | Organizational structure. |
| 7 | Copy of the company bank statement showing fulfillment of paid-up capital. |
| 8 | Company financial statement signed by the Directors and Board of Commissioners. |
| 9 | Institutional document - Tax clearance letter from the tax authority for the past year. |
| 10 | Shareholders and Directors/Commissioners Documents - Copy of ID card. |
| 11 | Shareholders and Directors/Commissioners Documents - Recent color photo (4x6 cm). |
| 12 | Shareholders and Directors/Commissioners Documents - Signed CV by the person concerned. |
| 13 | Shareholders and Directors/Commissioners Documents - Copy of NPWP. |
| 14 | Individual debtor information (SLIK OJK). |
| 15 | Shareholders and Directors/Commissioners Documents - Tax clearance letter for the past year. |
| 16 | Shareholders and Directors/Commissioners Documents - Wealth form. |
| 17 | Shareholders Documents - Personal statement with sufficient stamp duty. |
| 18 | Directors/Commissioners Documents - Minimum diploma-level educational certificate. |
| 19 | Directors/Commissioners Documents - Personal statement with sufficient stamp duty. |
| 20 | Written policies and procedures (Standard Operating Procedure) on management and governance. |
| 21 | Written policies and procedures (Standard Operating Procedure) on risk management. |
| 22 | Written policies and procedures (Standard Operating Procedure) on Anti-Money Laundering and Counter-Terrorism Financing (APU PPT). |
| 23 | Written policies and procedures (Standard Operating Procedure) on foreign exchange rates. |
| 24 | Written policies and procedures (Standard Operating Procedure) on consumer protection. |
| 25 | Human resources readiness including organizational structure and job descriptions. |
| 26 | Copy of ownership proof of business premises or lease agreement. |
| 27 | Photos and layout of the premises, showing the workspace and administrative areas. |
| 28 | Location map showing proximity to main roads and public areas. |
| 29 | Infrastructure readiness (e.g., counters, currency authenticity detection tools, safes, exchange rate boards, etc.). |
| 30 | Feasibility study for the establishment of a Money Changer Operator. |
| 31 | Draft cooperation agreement with other operators or related third parties, if applicable. |