Skip to content

Guam Money Transmitter License

Who regulates foreign exchange licenses in Guam?

According to the Guam Finance and Taxation act, money transmitters operating in Guam are required to obtain a foreign exchange license with the Guam Department of Revenue and Taxation through the office of the Commissioner of Banking and Insurance for the territory of Guam.

Who needs a foreign exchange license in Guam?

No person shall engage in the business of selling foreign currency notes or engage in the business of receiving money for the purpose of transmitting the same or its equivalent to foreign countries without first obtaining a license from the Commissioner.

Persons engaged in the business of receiving money for the purpose of transmitting the same within the United States by an instrument or order drawn upon and directed to the person receiving the money for transmission should also obtain this license.

Guam Foreign Exchange License Cost

In order to apply for a money transmitter license in Guam, you need to pay an application fee of $500, have $50,000 in surety bonds and a market value of at least $50,000.


How to Apply for a Foreign Exchange License in Guam?

An application for a license shall be in writing, under oath, and in a form prescribed by the Commissioner. It shall contain:

  • The name and address of the applicant
  • The name and address of every agent
  • If a corporation, every officer and director

Additionally, it shall state whether the license being applied for is to be used for the sale of foreign currency notes or the transmittal of money or both. The application shall also contain such other information as the Commissioner may require.

How Can We Help?

Applying for a foreign exchange license in Guam means investing thousands of dollars and waiting up to a year or even more. Do the associated costs and timeframe sound like a lot? We can help you obtain a foreign exchange license in Guam for a fraction of the total cost and you can start your business within 30 days!

This page was last updated on January 18, 2023.