Foreign Exchange Bureau Licence — Fees and Charges in Kenya

A Foreign Exchange Bureau (Forex Bureau) is an institution licensed by the Central Bank of Kenya (CBK) to buy and sell foreign currency in spot transactions. Forex bureaux are regulated under the CBK Act and the Forex Bureau Guidelines, 2011, and serve as a key retail channel for foreign exchange in Kenya.

Fees and Charges

Fee Item	Amount (KES)
Application fee (new licence)	20,000 (non-refundable)
Application fee (additional outlet)	10,000 (non-refundable)
Annual licence fee (per bureau)	20,000

All fees are payable by banker's cheque to the Central Bank of Kenya. The annual licence fee of KES 20,000 per bureau was doubled from KES 10,000 following CBK regulatory reforms that also raised capital requirements.

Minimum Capital Requirements

Requirement	Amount
Minimum core capital per bureau	KES 5,000,000 (equivalent to approximately USD 50,000–60,000)
Minimum operating balance (foreign currency)	USD 4,000 equivalent (approximately KES 520,000+)

Key Application Requirements

Requirement	Details
Company registration	Must be incorporated as a private limited company
CBK name approval	Name must include "Forex Bureau", "Foreign Exchange Bureau", or "Bureau de Change"
Feasibility study	3-year financial projections; organisational structure; physical location
Memorandum and Articles of Association	Certified copy required
Fit and proper forms	All proposed directors and senior officers
Minimum core capital evidence	Audited or externally confirmed
Physical premises	Must be an appropriate, dedicated operating location

A forex bureau may not conduct any banking business and is strictly limited to spot foreign exchange transactions. All transactions must be recorded and reported to the CBK. Daily transaction reports, monthly financial reports, and annual audited accounts are mandatory reporting requirements. Regulated by the Central Bank of Kenya (CBK) under the Central Bank of Kenya Act and the Forex Bureau Guidelines, 2011.

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