Obtaining the Financial Licenses in Hong Kong
If the company’s activities are related to financial services, the possession of a specialized license can convince potential partners and customers of the company’s stability, as well as its reliability.
Our experts accompany the procedure for obtaining the financial licenses in various countries.
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When Ordering the Licenses from Us, You:
- Save your time and money;
- Bring the probability of an error and exit from the legal field to zero;
- Insure yourself against risks;
- Keep data confidential;
- Get competent advice, including in highly specialized topics that staff members might not have encountered;
- Use effective tools to increase profitability;
- Get access to a range of other services (registration of companies outside the country, opening accounts in offshore companies, assistance in obtaining residence permits, and so on).
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The Main Types of Financial Licenses:
- Brokerage. Licenses for brokerage activities allow you to bring end customers to the stock markets of various countries for transactions.
- Forex trading. Forex licenses increase the level of customer loyalty and trust, which indicates the safety of funds and honest company policies.
- License for electronic money. Payment systems have high revenues from the customers’ cash turnover, providing the customer’s transaction management services. Such a license will convince your customers of the reliability of your resource.
- Investment. They are needed for more productive interaction with other companies in which you intend to invest client finance. The license for such financial services allows you to work with private and public funds, exchanges and organizations of any type.
- Banking. Each microcredit company or large financial institution fights for its customers. A license to provide such financial services not only expands the number of potential counterparties in the field of deposit and credit services, private banking aimed at serving VIP clients, but also increases the chances of increasing the international level.
Professional Service. A Wide Range of Services.
If you decide to obtain an MSO license in Hong Kong or buy a Hong Kong payment system, contact our specialists for assistance.
We will help in the organization and licensing of monetary services. In obtaining a permissive license, issued by the Commissioner of the Department of Customs Duties and Excise (Commissioner of Customs and Excise (CCE)) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, Chapter 615 of the Hong Kong Code of Law (AMLO).
It is important to remember that the provision of monetary services without a license qualifies as a crime in Hong Kong and it is punishable by law with a fine of 100,000 Hong Kong dollars or in the form of imprisonment.
If your goal is an MSO license, then an application for receipt in Hong Kong is filled out and submitted to the CCE.
Applicants should provide:
- 4 basic types of supporting documents at the time of application:
- supporting documents for the applicant’s data, such as a Business Registration Certificate and Articles of Incorporation;
- supporting documents for each premise, such as a lease and floor plan;
- supporting documents relating to the particular partner, director, or business owners for whom the application is submitted, namely, the Fit and Proper Person Declaration Forms; and
- an authorization letter, signed by all partners or the board of directors, which authorizes the application.
- In addition to the four main types of supporting documents, applicants may be asked to provide other supporting documents not listed on the application form, such as a Business Plan.
The authorized representative of the Department makes an audit for individuals and companies, as well as on-site visit to the territory of the company. At the final stage, the Commissioner informs the applicant of the result by mail.
After obtaining a financial license from the MSO, the Commissioner will ask the licensee to designate a Compliance Officer and a Money Laundering Reporting Officer.
After filing all the necessary documents, the Commissioner of the Customs and Excise Department (CCE) requires payment of the application filing fee (both for the application itself and for each partner/director/ultimate beneficial owner).
After paying the fee, the Commissioner conducts an interview with the applicant and issues the form to the applicant to enter additional information into it. The applicant (or any partner/director/ultimate owner) should not have a criminal record for committing a financial or criminal offense or be not reinstated as a bankrupt; the Commissioner of the Department should also approve the choice of premises for doing business.
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Comprehensive support of any business—from opening an offshore company to providing a full list of consulting, auditing and legal services. A high level of professionalism and daily work on empowerment allow customers to feel confident even in crisis and atypical situations. Your well-being is always in our competence.
