Licensing

Aiger has extensive experience in efficiently and as seamlessly as possibly obtaining various licenses for firms providing regulated services in Hong Kong and elsewhere. We also support hundreds of individual licensees with their licensing requirements on behalf of the companies we work for. We work closely with your other advisers to ensure that the important legal, tax and accounting issues connected with an application are also addressed. After your firm has obtained its licenses, we can continue to provide ongoing support to help you to maintain your obligations. Our licensing services include:

  • Preparing and submitting licensing applications for corporations and individuals
  • Liaising with local regulators
  • Negotiating licensing conditions
  • Preparing critical compliance documents, such as compliance manuals and regulatory business plans
  • Assisting with capital adequacy returns and planning

  • SFC Licenses

Any person carrying on regulated activities in Hong Kong has to be licensed or registered with the Securities and Futures Commission unless it falls within a specific exemption category. You will need a license if you are not an authorized financial institution (such as a bank or deposit-taking company) and you (i) carry on a business in one or more regulated activities; (ii) actively market to the public any services that you provide which could constitute a regulated activity if provided in Hong Kong; or (iii) are an individual performing a regulated function for your principal in relation to any regulated activity. Schedule 5 to the Securities and Futures Ordinance stipulates 10 types of regulated activity, including such as type 1 dealing in securities, type 4 advising on securities, type 9 asset management.

  • Money Lenders License

Money lenders service means in general making loans to others that is distinct from banks and financial institutions. Any person carrying on business as a money lender in Hong Kong must obtain a money lender’s license pursuant to the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong). Normally, the Money Lenders license has a validity period of 12 months. Licensee shall apply for renewal of license within 3 months prior the expiration to continue its operation of money lender service.

  • Money Service Operators License

Money service includes money changing service and remittance service. Any person operating a money service should be licensed with the Commissioner of Customs and Excise pursuant to the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance. Normally, the Money Service Operators 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.

  • Insurance Brokers License

An insurance broker means a person who carries on the business of negotiating or arranging contracts of insurance in or from Hong Kong as the agent of the policy holder or potential policy holder or advising on matters related to insurance. A person, whether a sole proprietorship, partnership or limited company can apply to become an authorized insurance broker. Authorization is to be sought from the Office of the Commissioner of Insurance or apply to become a member of a body of insurance brokers approved by the Insurance Authority in Hong Kong. The chief executive and technical representatives of the broker need to be registered as well.

  • Trust Company Registration

Any company incorporated in Hong Kong but is not a private company may apply in writing to the Registrar of Companies to be registered as a trust company pursuant to the Trustee Ordinance to engage in trustee services. The Company has to submit the required application documents and written confirmation of compliance along with application fees to the Hong Kong Companies Registry. Upon approval of application, a Certificate of Registration as a Trust Company will be issued by the Companies Registry and the Company will be allowed to carry out trust businesses.

  • Trust or Company Service Providers License

A person who carries on or wishes to carry on a trust or company service business in Hong Kong is required to apply to be a registered trust or company service provider (“TCSPs”)

under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).  Normally, the TCSP License has a validity period of 2 years. The Registrar of Companies may impose conditions on granting a license.

Compliance

 

Aiger is a global provider of licensing and compliance services. We are best placed to share insights about leading practices for global legislative and regulatory environments. Our team combines broad experience, deep subject matter expertise and technical know-how to advise companies on a wide range of complex compliance topics. We can handle everything from meeting anti-money laundering requirements to managing compliance related to complex corporate structures. Our aim is to deliver insights beyond the pure legal aspect, adding value through practical implementation guidance and innovative tools.