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
GXT-HKComposed of professional teams from mainland China and Hong Kong，Focus on providing global company registration、Financial license application、Bank account opening、One-stop cross-border services such as tax financial planning and compliance consulting，core coverageHong Kong MSO License、Hong Kong Insurance Brokers and Hong Kong Money Lenders Licenses、US MSB license、Hong Kong 149 license、9license plate，Helping enterprises to go overseas efficiently and compliantly，Steady global layout。
