A Hong Kong Money Service Operator License can be obtained through the application from the Customs and Excise Department of Hong Kong. The application has to be made in Form 1 of the Money Service Operator Application form and can be submitted to the Department.

Hong Kong Money Service Operator (MSO) License

 

A license for a Hong Kong Money Service Operator (MSO) is issued by the Customs and Excise Department of Hong Kong. The Licenses are issued under the provisions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance of Hong Kong.

A Hong Kong MSO license authorizes a person to change currencies or remit funds under the provisions of the license. The remittance services can include sending money to any country or receiving funds in Hong Kong.

Hong Kong MSO License Costs

The fee for an application for a license is HK$ 3310 with HK$ 2220 for every additional premise. Additionally, a fee of HK$ 860 has to be paid for every person who has to be tested as a fit and proper person. The renewal fee to be paid is HK$ 790 and an additional fee of HK$ 355 for each additional premise.

Empire Global has a team of experienced professionals who will assist you through the entire process of Hong Kong MSO License application including assistance in the preparation of documents, submission of application and responding to any queries from the Customs and Excise Department. We request you to get in touch with Empire Global at the earliest to understand the entire process in detail and apply for a Hong Kong MSO License.

How can I get a Hong Kong MSO License?

A Hong Kong Money Service Operator License can be obtained through the application from the Customs and Excise Department of Hong Kong. The application has to be made in Form 1 of the Money Service Operator Application form and can be submitted to the Department.

What are the Hong Kong MSO License Requirements?

The Application for a Hong Kong MSO License can be made by any person who wishes to operate as a money changer or remitter. The main requirements which have to be fulfilled by an applicant are as follows:

  • The applicant must provide a list of premises for which the licenses are sought
  • The applicant must provide information about the ultimate owner of the business. The applicant and the ultimate owners should be fit and proper persons for the conduct of the business.
  • In case, the application is made on behalf of a partnership, each and every partner must be a fit and proper person to provide the service
  • In case, the application is a corporation, each and every ultimate owner and director must be a fit and proper person (for all the situations mentioned here, and an ultimate owner is generally a person who exercises management control or control over more than 25% of capital or profits or voting rights
  • The applicants must fill and submit the form (Form 3A or 3B) for consideration as a fit and proper person according to the guidelines for every ultimate owner or director
  • Clearly accessible business premises or communication address

The process of addition of directors or ultimate owners is closely regulated and prior approval has to be taken before any appointments are made.

The Licenses are normally granted for a period of 2 years after which they have to be renewed.

Hong Kong Money Service Operator (MSO) License