Compliance and License Services
Business licences are required by the legislation and administered by various government agencies, statutory bodies and local authorities.
Obtaining A Money Service Operators (“Mso”) Licence In Hong Kong
Our Services Include:
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Tailor Made Business Plan
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Tailor Made AML/CTF Policy
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Prepare External Audit Report
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Application and Maintenance Services
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Competence Assessment Mock Papers
Under the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (“the AMLO”), a person who wishes to operate a remittance and / or money changing service (i.e. money service as defined under the AMLO) is required to apply for a licence from the Commissioner of Customs & Excise (CCE).
More Information:
A money service means a money changing service or a remittance service. It is an offence to operate a money service in Hong Kong without a license.
Money changing service means a service for exchanging of currencies that is operating in Hong Kong as a business, but not include those service that is incidental to the main business. Remittance service means a service of one or more of the following that is operated in Hong Kong as a business:
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Sending, Or Arranging For The Sending Of, Money To A Place Outside Hong Kong;
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Receiving, Or Arranging For The Receipt Of, Money From A Place Outside Hong Kong;
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Arranging For The Receipt Of Money In A Place Outside Hong Kong.
One shall only operate a money service after being granted a license by the Hong Kong Customs and Excise Department. Normally, the Money Service Operators (“MSO”) License has a validity period of 2 years. Hence the licensee shall apply for renewal of license before expiration to continue its operation of money service.
Obtaining A Money Lender Licence In Hong Kong
Our Services Include:
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Tailor Made Business Plan
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Tailor Made AML/CTF Policy
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Prepare External Audit Report
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Application and Maintenance Services
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Premise Rental Service
A person carrying on business as a money lender in Hong Kong must obtain a money lender’s licence. The licensing of money lenders and regulation of money-lending transactions are governed by the Money Lenders Ordinance, Chapter 163 of the Laws of Hong Kong.
More Information:
Licensing Court
Responsible for determination of applications for and granting of money lenders licences.
Registrar of Money Lenders
(the role is presently performed by the Registrar of Companies) Responsible for processing applications for money lenders licences, renewal of licences and endorsement on licences; as well as maintaining a register of money lenders for inspection by members of the public.
Commissioner of Police
Responsible for enforcing the Money Lenders Ordinance, including carrying out examinations on applications for money lenders licences, renewal of licences and endorsements on licences; and investigations of complaints against money lenders.
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