# Policy and regulatory basis
Article 5 of the Administrative Measures for the Pilot Program of Individual Foreign Currency Exchange Concession Business
A domestic non-financial institution planning to operate franchised business shall apply to the foreign exchange administration for the qualification to operate within the area under the jurisdiction of the branch or foreign exchange administrative department of a single foreign exchange administration (hereinafter referred to as the foreign exchange branch) or across the country. And has obtained the "Individual Local and Foreign Currency Exchange Franchise Business License" (hereinafter referred to as the "exchange license").