Hong Kong Money Services Operator (MSO) License
Turn-key solutions for establishing a legal entity in Hong Kong and securing money services operator (MSO) registration with local authorities.
Money Services Operator (MSO) registration
We guide you through each step, from the initial setup to obtaining your Money Services Operator (MSO) registration. Our expert team ensures you meet all Hong Kong regulations, making the process smooth and hassle-free. Whether you're a startup or an established company, our customized solutions will help you achieve your business goals with ease.
OUR COMPREHENSIVE SERVICES PACKAGE
Register a company in Hong Kong
1-year certificate (subject to annual prolongation)
Est. ca. 2 weeks
Incorporation Services
Search & Appointment of:
Resident Executive Director
Est. ca. 4-7 weeks
Staffing
Resident Executive Secretary
Prepare all relevant policies and procedures (AML and alike) and create business plan according to the intended business model
Compliance
Search and rent office in HK, appropriate for chosen business model,
1-year rent
1-year rent
Office
Apply to HK Customs & Excise Dept. for MSO Registration
Fit & Proper Test for UBO and Responsible Resident Executive
Est. ca. 4-8 weeks
MSO Application
Document Submission and Approval
Open bank account for MSO-registered entity
Bank Account
Domestic HK Bank or Payment Institution
Est. ca. 4-12 weeks
Account overseas
Hong Kong Money Services Operator (MSO) License in Brief
Licensed MSOs must comply with all regulatory requirements, including maintaining proper records, submitting periodic reports, and adhering to AML regulations.
Regular audits and inspections by the authorities ensure continued compliance with the licensing conditions.
Compliance and Ongoing Obligations:
Fast Facts and Important Considerations
The MSO license is required for businesses that intend to operate money services, including remittance and money changing services, in Hong Kong. The licensing process is overseen by the Customs and Excise Department of Hong Kong.
Customer Due Diligence (CDD): Conducting thorough checks on clients (KYC/KYB) to verify their identity and assess the risk of money laundering or terrorist financing.
Continuously monitoring transactions for any suspicious activities and reporting them to the authorities.
Submitting periodic reports to the Customs and Excise Department regarding business activities and compliance status.
Permitted Activities
Currency Exchange: Buying and selling foreign currencies to individuals and businesses.
Provision of Currency Exchange Rates: Offering competitive exchange rates for different currencies.
Money Changing Services:
By obtaining an MSO license, businesses can offer a wide range of financial services, provided they adhere to the regulatory framework and maintain high standards of compliance and transparency.
Payment Processing: Facilitating payments for goods and services, both online and offline.
Bill Payments: Offering services to pay utility bills, taxes, and other payments on behalf of clients.
Payment Services:
Domestic Money Transfers: Facilitating the transfer of money within Hong Kong.
International Money Transfers: Enabling the transfer of funds
to and from foreign countries.
to and from foreign countries.
Remittance Services:
Electronic Funds Transfers: Handling transfers through various electronic methods, including online platforms and mobile apps.
Money Transfer for Businesses: Assisting businesses with bulk remittances for international trade or other business purposes.
Cashing Cheques: Offering services to cash cheques for individuals or businesses.
Cheque Cashing Services:
Validity Period of the MSO License
The MSO license in Hong Kong is typically granted for a period of two years. License holders must apply for renewal before the expiration of the current license to continue their money service operations without interruption.
CONTACT US
Get in touch with us to inquire on our services.
+371 2811 4110
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