As cross-border trade and investment activities become increasingly frequent，Hong Kong as an international financial center，Its Money Service Operator (MSO) license has become an important compliance tool for companies to carry out currency exchange and remittance businesses.。at present，We provide one-stop services for license transfer and new license application，Covers initial compliance review、Licensee configuration、office space、Professional consultants and legal support, etc.。Welcome to contact Hong Kong Information Communications Consultants for more details。
Requirements for reporting changes to licensees
According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance，Licensed money service operators are required to make a written declaration to the Commissioner of Customs and Excise (hereinafter referred to as the "Commissioner") regarding changes in specified matters.。The following are the key reporting items:、Time limits and penalties。
Changes that need to be reported
Licensees are required to fill in specified forms，Notify the Commissioner of Customs regarding changes in the following details:：
- Change of business or corporate name
- Changes in the nature of money services business
- Change of primary mailing address
- Changes to contact information
- Changes to business premises information
- Change of telephone and fax numbers of business premises
- Changes to other business information conducted at the business premises
- Change of occupier of residential business premises
- sole proprietor、Partner、Changes in details of directors or ultimate owners
- Partner、Change of directors or ultimate owners
- sole proprietor、Partner、Change of “fit and proper” status of director or ultimate owner
- Changes to bank accounts used to conduct money services businesses
Declaration time limit
The licensee shall within one month from the date of the relevant changes，Report in writing to the Commissioner。
Consequences of violation
According to section 40 of the Ordinance(1)strip，If relevant changes are not reported in writing in a timely manner，It is a crime。Once convicted，The maximum penalty is HK$50,000.。also，The Commissioner may, under section 43(1)(c)Disciplinary action for non-compliance。
Changes that require prior approval from the Commissioner
Some changes require not only reporting，It is also necessary to obtain prior written approval from the Commissioner before proceeding.，Mainly involves directors、ultimate owner、Change of partners or business premises。The specific provisions are as follows：
Change of directors
If a person intends to become a director of a licensed corporation，Licensees must fill in the application form in advance，and obtained written approval from the Commissioner。According to section 35 of the Ordinance(1)strip，Becoming a director without prior approval，It is a crime，Can be fined HK$50,000 and jailed for six months。The Commissioner may also rely on section 43(1)(c)take disciplinary action。
Change of final owner
New person proposed to become the ultimate owner of the licensee，Application forms must also be submitted to the Commissioner in advance，and be approved in writing。
Change of partners
Persons who intend to join as partners，The same must be approved by the Commissioner in advance.，and fill in the relevant application form。
Add new business premises
If the licensee wishes to carry on a money services business in another premises，Or add a new business point at a specific location，All must obtain prior written approval from the Commissioner，and submit the application form。
Any of the above changes without prior approval，All serious violations，May incur fines、Imprisonment and disciplinary sanctions。Licensees must consult professional compliance advisors before making changes，Ensure full compliance with statutory requirements。
About Hong Kong Xintong
Hong Kong Xintong focuses onHong Kong Securities and Futures Commission license、Hong Kong Insurance Broker License、Hong Kong MSO Licenseandmoneylenders licenseApply for service，Assist customers to applyUS MSB license、NFA、RIA、Canadian MSB license、Mainstream overseas financial licenses such as Australia and Mexico，Support enterprises to achieve compliance expansion of cross-border financial business。Also availableCayman Islands Offshore Company Registration、Offshore fund establishment and global compliance operations and other services，Help enterprises expand their presence in international markets。Provide one-stop compliance solutions for enterprises。To learn more，Please contactHong Kong Information Communications Consultant。
