For Business
Money Services Business Licence
For money transmission, cheque cashing and currency exchange operators.
A money services business licence is required to operate money transmission, currency exchange, cheque cashing or payment instrument services in or from Dominica. The licence is issued and supervised by the Financial Services Unit.
What the application covers
The class of service applied for.
Ownership structure and identification of beneficial owners.
Fit and proper declarations for directors and senior officers.
Anti money laundering and counter terrorist financing procedures.
Systems description, including any technology partner.
Prescribed capital and a security deposit or bond.
Obligations once licensed
Ongoing reporting to the Financial Services Unit.
Annual audited accounts.
Suspicious transaction reporting.
Notification of any change in control or senior personnel.
Money services business application forms