-        Service documents:

-         License application: A license form for the Joint-stock company according to Form (1/E) and an office licensing form according to Form (2/E) accompanied with a copy of the personal identity – a Curriculum Vitae of each founder according to Form No. (3/E). Inquiry notice - a notice of payment of expenses. Study and examination - a recent, notarized power of attorney to the representative authorized to follow up on procedures, if applicable.

-        Meeting with Founders Statement: A meeting with the founders to confirm their serious intention to obtain the license, assess the founders' expertise, prepare a report on the meeting, and obtain signature specimen from the founders and the legal representative (if applicable).

-        Proof of Residence: A valid proof of residence document (issued within the past three months) or the proper equivalent in other countries.

-        Criminal record extract: Criminal record extract for each founder, issued within the past three months.

-        Non-public servant status certificate: A non-public servant status document, issued within the past three months.

-        Statement of financial situations: A statement of the financial situations of the founders, signed and dated by the relevant party and certified by a chartered accountant _ Form (4/E).

-        Statement of Shareholdings: A statement detailing the companies in which the founder has a shareholding, indicating the amount of their share and their position within the company, accompanied with a copy of the company's registration certificate.

-        Statement of Financial Liabilities:  A statement of the standing financial liabilities towards local and foreign banks and any other party certified by a chartered accountant.

-        Statement of Non-Bankruptcy: A certified statement confirming that the founder has not filed for bankruptcy, certified by a chartered accountant.

-        Bank statement: A certified declaration of the founder's bank accounts, both within and outside Syria, accompanied by certificates of good conduct from at least two banks.

-         Statement of Founders' Shareholdings in Money Exchange Companies and Offices: A statement outlining the founders' shareholdings in exchange companies or offices, both within and outside Syria, along with the company or office’s address, legal form, nationality, trade name, the amount of such shareholding and its percentage to the capital, if any. If the founder has no shareholdings in any exchange companies or offices, a clear statement to that effect should be included.

-        The company's Articles of Association: The draft deed of association for offices or the articles of association for companies signed by the founders in accordance with the form approved by the Monetary and Credit Council.

-        Commercial registry: Certified copy of the commercial registry if the person is a registered merchant, or a statement of the opposite in case of otherwise.

-        Undertaking: An undertaking not to violate Law No.24 of 2006 and its executive instructions.

-        Undertaking: An undertaking to cover the costs of an external study of the application, if necessary.

-        Financial Clearance: A financial Clearance by the Ministry of Finance.

-        Data on the Names of the Board Members: Including the full names, nationalities, and residences of the chairperson, all board members, and the general manager of the entity. Copies of their personal identification cards or passports should also be attached.

-        Curriculum Vitae of the founders and the board of directors’ members: A detailed statement indicating the professional and banking experiences and the academic qualifications of each of the board of directors’ members and the general manager.

-         The company’s Articles of Association: Duly certified articles of association of each legal entity.

-        Financial statement: Audited and published balance sheet for the most recent fiscal year for each legal entity.

-        Statement on Companies and Institutions: A statement clearly indicating whether any of the legal entities own or have a shareholding in banks or other exchange houses in Syria or abroad, and the extent of that shareholding.

-        Initial Premises Inspection: To obtain initial approval for the premises, the following conditions must be met:

●      Location: The premises must be located in a city, on a main street, or in a commercial market that caters to the needs of local traders and tourists.

●      Floor Level: The premises must be located on the first floor, with a minimum area of 30 square meters. For companies, the premises must be located on the ground floor, with a minimum total area of 25 square meters, evenly distributed between the ground floor and mezzanine level.

-        Licensing decision: A Licensing decision issued by the Monetary and Credit Council after the certification of the deed of association and the articles of association by the Ministry of Internal Trade and Consumer Protection.

-        Registration application: An application to list the company in the Exchange Companies Register of the Banking Supervision Department.

-        Notice of payment: A notice of payment of 250,000 SYP as company registration expenses.

-        Account Opening Application: An application submitted by the founders to open an account in the Syrian currency and an account in foreign currencies (if it is a non-resident Syrian founder) for the purpose of depositing their capital contributions at the Central Bank of Syria.

-        Payment notice: Receipt of a notification confirming the founders' contributions to the company's share capital, made into the company's designated account at the Central Bank of Syria.

-        Transfer notification: A transfer notification indicating that the entirety of the subscriptions value has been transferred to the accounts opened for this purpose with the Central Bank of Syria.

-        Company’s Articles of Association: A copy of the articles of association certified by the Ministry of Internal Trade and Consumer Protection.

-        Registration certificate of a company: A duly certified copy of the company's commercial register.

-        Data on the Board Members: Data on the full names of the chairperson and members of the board of directors, their addresses, and the proposed general manager.

-        Minutes of meeting: A copy of the minutes of the meeting of the founding general assembly certified by the Ministry of Economy and Foreign Trade, and a copy of the minutes of the first board of directors meeting.

-        Data on the names of shareholders: A hard copy and an electronic copy of the names of shareholders, the percentage of each of their contributions, and a copy of the decision to allocate shareholders with the shares offered for public subscription.

-        Criminal record extract: An unexpired criminal record extract of each of the members of the board of directors and the general manager.

-         Curriculum Vitae of Founders and Board Members: A dated and signed original resume for each member of the board of directors and the general manager. The resume should include, in chronological order, their previous work experience and positions both within and outside the country, current employment, educational qualifications, current residence, and personal phone and fax numbers. A copy of the personal identity card should be attached.

-        Non-public servant status certificate: An unexpired document for non-public servant of each member of the board of directors and of the general manager.

-        Signature Specimens for Signatories: Copies of signature specimens for the General Manager and authorized signatories of the company, as per the commercial register.

-        Undertaking: An undertaking signed by the chairperson of the board of directors and the general manager pledging their commitment to comply with the provisions of Law No. 24 of 2006 regulating the money exchange profession and its executive instructions.

-        Data on the company and its branches: The company’s main headquarters’ telephone and fax numbers.

-         Governorate Approval for Proposed Headquarters Use: Approval from the governorate for the use of the approved property as the office's headquarters. It is permissible to postpone the submission of this approval until after the commencement of operations in accordance with the applicable decisions in this regard.

-        Undertaking: An undertaking to deposit 25% of any reserves held by the company into the bank account in which the 25% cash reserve has been frozen, in accordance with the provisions of Law No. 24 of 2006, and to notify the Central Bank of Syria of each deposit transaction.

-        Bank account number: A statement of the account number opened in the name of the company for the purpose of transferring capital to it with banks operating in Syria.

-        Premises Final Inspection Application: Notification of completion of Central Bank of Syria's premises requirements in accordance with the approved form pursuant to Monetary and Credit Council decision No. 269/M.C.C Dated 10/4/2007 to conduct the final inspection and submit the inspection report to the Management Committee for final approval in accordance with established procedures.

-        Registration Approval: The decision to register the company and grant it permission to operate is issued by the Management Committee of the Central Bank of Syria.

-        Registration Application: An application to register the office in the Exchange Offices Register held by the Banking Supervision Department.

-        Account Opening Application: Receipt of the founders' application to open a Syrian pound account and a foreign currency account (in the case of a non-resident Syrian founder) to pay the value of their capital contributions to the Central Bank of Syria.

-        Deed of Association: A copy of the deed of association certified by the Ministry of Internal Trade and Consumer Protection.

-        Payment notification: Receipt for payment of office registration fees to the Central Bank of Syria Fund.

-        Name of the office manager: The name of the manager of the exchange office and a specimen of their signature.

-        Information about the general manager of the proposed office.

-        Unexpired criminal record extract.

-        Curriculum Vitae (CV): A dated and original signed CV that includes a chronological overview of the applicant's previous work experience, both within and outside Syria, as well as their current work activities, educational qualifications, and current residence.

-        Copy of the personal ID.

-        Non-public servant status document.

-        Office/Branch Information: Phone and Fax Numbers for the Office Headquarters.

-        Undertaking: An undertaking by the manager of the exchange office to comply with the provisions of Law No. 24 of 2006 regulating the money exchange profession and its executive instructions.

-        Signatory Signature Specimens: Signature specimens of the authorized signatories of the office, as per the commercial register.

-        Governorate Approval for Proposed Headquarters Use: Approval from the governorate for the use of the approved property as the office's headquarters. It is permissible to postpone the submission of this approval until after the commencement of operations in accordance with the applicable decisions in this regard.

-        Insurance Contract: A copy of the insurance policy for cash and fixed assets at the company's headquarters.

-        Undertaking: An undertaking to deposit 25% of any reserves held by the company into the bank account in which the 25% cash reserve has been frozen, in accordance with the provisions of Law No. 24 of 2006, and to notify the Central Bank of Syria of each deposit transaction.

-        Bank account number: A statement of the account number opened in one of the banks operating in the Syrian Arab Republic in the name of the office.

Final Inspection Application: Notification of fulfillment of the Central Bank of Syria requirements.