Finance
Authorised Foreign Exchange Office
Formation and Ministry of Treasury and Finance licensing of authorised institutions dealing in foreign currency.
- Regulator
- Ministry of Treasury and Finance
- Required company form
- Joint stock company
- Sector
- Finance
- Licensing time
- 4–8 months
Authorised institutions are joint stock companies that may buy and sell foreign currency and precious metals under Turkish currency protection legislation, subject to Ministry of Treasury and Finance approval. There are two authorisation levels, Group A and Group B, with different activity scopes and minimum capital. The licensing process examines the financial and professional competence of founding shareholders, the physical security of the premises and the internal control system separately.
Requirements
- Incorporation as a joint stock company with all shares registered in name
- Shareholders and managers meeting financial strength, reputation and criminal record conditions
- Full payment in cash of the minimum paid-up capital set for the group
- A compliance programme for anti-money-laundering obligations and appointment of a compliance officer
- Premises meeting physical security, camera and safe standards
Let's start with a conversation
In a free 30-minute call, let's clarify which company structure and which incentives fit you. Non-binding, but useful.