Turnkey Exchange Office Setup

Basic – CZK 79,000 excl. VAT

Obtaining the CNB licence and notifying the premises.

• introductory consultation and analysis of your project (form of business, location of premises, staffing);
• review of the statutory conditions – trustworthiness of the applicant and managers, professional competence, registered office and premises;
• drafting the licence application and compiling all annexes (questionnaires and affidavits of managers, criminal record extracts, proof of legal title to the premises, evidence of professional competence);
• electronic filing via the REGIS system and representation in the proceedings – communication with the CNB, responses to requests and remedying defects (1–2 rounds);
• notification of the exchange premises to the CNB (at least 3 business days before activity starts) and registration in the list of operators;
• basic methodological support on post-licensing duties and a pre-launch compliance check-list.

Entry – CZK 114,000 excl. VAT

Everything in Basic + complete documentation for running the office, tailored to your premises.

AML/CFT documentation: the internal AML policy; the risk assessment of the obliged entity including scoring tables for customer risk; customer identification and due diligence forms (individuals and legal entities); a checklist for PEP and sanctions verification including the counter procedure; the procedure for reporting a suspicious transaction to the FAÚ and the assessment form; appointment of the AML contact person and notification to the FAÚ; designation of the responsible member of the statutory body; archiving and disclosure rules (10 years).

Operating documentation: template signage for the premises; the exchange rate list in Czech and English with all mandatory particulars and the fee; pre-contractual information bilingual CZ/EN; a template transaction receipt (CZ/EN); a withdrawal form and customer notice; the book of exchange transactions (paper and electronic records) and archiving rules.

Cash and currency in circulation: a cash handling policy; the procedure on suspicion of a counterfeit including the confirmation of seizure and records of seized notes; an assessment of which staff need the CNB certificate of professional knowledge for recognising banknotes and coins.

Consumer protection, GDPR and whistleblowing: complaints rules and mandatory consumer information (CNB supervision, the financial arbiter); a customer notice on the processing of personal data during identification and due diligence; records of processing activities and retention periods; an internal whistleblowing reporting system including the designation of the person handling reports.

All-in-one – CZK 139,000 excl. VAT

Everything in Entry + staff training and two on-site inspections.

• AML/CFT staff training – an entry test, training on thresholds, customer identification and due diligence, PEPs and sanctions, indicators of suspicious transactions and the reporting procedure; a certificate for each employee, training records for inspection purposes and a refresher plan;
• a pre-launch on-site inspection against a check-list and a test exchange simulating the CNB's procedure (rate list → pre-contractual information → identification above the threshold → transaction → receipt → withdrawal notice), including a written report;
• a follow-up inspection one month after launch – verifying that actual operations match the documentation, reviewing the records kept during the first month, and a final report with recommendations.

All packages cover the notification of one set of premises; additional premises can be added by agreement.