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.

Licensing Provisions

Integrated Licensing Provisions of Bank Indonesia through the Licensing Front Office PBI 22.8.PBI.2020 – Integrated Licensing of Bank Indonesia through the Licensing Front Office PADG Number 12 of 2024 dated September 30, 2024 - Implementation Regulations for Integrated Licensing of Bank Indonesia through the Licensing Front Office

Provisions for Money Changers / KUPVA BB

KUPVA BB Provisions PBI 18 of 2016 – Business Activities of Non-Bank Foreign Exchange Trading SEBI 18 42 DKSP – Business Activities of Non-Bank Foreign Exchange Trading PBI Number 3 of 2023 – Regarding Consumer Protection by Bank Indonesia PBI 19/10/PBI/2017 – Regarding Anti-Money Laundering and Counter-Terrorism Financing