existHong Kong Securities and Futures Commission licensein the system，Can I hold client assets?，It is one of the key criteria to distinguish "big brands" from "small brands"。Big names (unlimited) can hold client assets，Similar to the operation model of mainland public funds，Client assets can be transferred directly to the company's account，And conduct investment management in the form of unified account；at the same time，Such investors may also not be professional investors (PI)。
Because big names can target a wider range of investors and hold client assets，In order to protect the rights and interests of ordinary investors, the Hong Kong Securities Regulatory Commission，The review standards for such licenses are more stringent。Whether it isPaid-up share capital、Liquid capital，stillHong Kong No. 1 plate acquisition：Responsible Personnel Qualifications and Transfer Practices(RO) Qualifications and Competencies，All need to meet higher requirements。therefore，Market prices for big brands are usually higher，The scope of business that can be carried out is also wider，Large listed institutions tend to be more inclined to apply for or acquire large licenses，to support subsequent business expansion。
Difficulty of applying for Hong Kong 149 financial license and company requirements
ApplyHong Kong 149 financial number licenseHave a high compliance threshold。Private equity firms planning to apply for a license in Hong Kong，Usually requires a request from the corporate body、financial capability、Internal control、Staffing and client asset arrangements meet the requirements of the Hong Kong Securities Regulatory Commission.。
- The applicant must have been incorporated in Hong Kong，Or have been registered with the Companies Registry as an overseas corporation；
- The company's financial status and debt repayment ability are good，And all company personnel have certain qualifications and experience；
- The company must demonstrate that it has an appropriate business structure、Good internal control system and qualified personnel；
- A licensed asset management company must have at least two responsible officers；
- At least one responsible officer must be a member of the board of directors；
- If the company needs to hold client assets，The minimum paid-up share capital is HKD 5 million，Liquid capital is no less than HKD 3 million，At the same time, the company also needs to comply with strict risk control mechanisms.。
Competency requirements for responsible persons and licensed representatives
at the personnel level，When relevant responsible persons and licensed representatives apply for a license from the Securities and Futures Commission of Hong Kong，Must demonstrate that they are competent，and meet integrity standards，able to be a fit and proper person to carry out regulated activities。The China Securities Regulatory Commission usually comprehensively evaluates the applicant’s industry experience、Professional qualifications、management ability、Compliance awareness and track record，To determine whether they are suitable to perform the relevant regulated functions。
9Business restrictions and applicable scenarios of small license plates
9Small license plates cannot hold customer assets，Therefore, the company must set up separate accounts for each customer，and shall not actually hold relevant assets，Only valet management is possible。at the same time，The scope of investors will also be relatively restricted。
Since sub-account management is relatively cumbersome in practice,，This type of license is usually more suitable for specific business scenarios such as private equity fund management.，Not suitable for covering a wider range of fund projects。When companies plan license types，Should be combined with target customer groups、Asset custody arrangements、Make prudent judgments on product structure and long-term business development direction。
Two paths for mainland private equity companies to apply for Hong Kong’s No. 9 license
For private equity institutions planning to apply for Hong Kong license No. 9，Generally, two main paths can be considered：One is to set up a subsidiary in Hong Kong，and submit a license application to the Hong Kong Securities and Futures Commission as a new entity；The second is to acquire a company that has successfully obtained the No. 9 license，To shorten the business implementation cycle and improve promotion efficiency。
Both paths have their own emphasis。Establishing a new subsidiary is more conducive to the ownership structure、business model、Systematically design staffing and compliance systems；Acquisition of licensed companies places greater emphasis on due diligence、License plate status check、Historical compliance risk investigation and subsequent change approval arrangements。Hong Kong Information Communications recommends that enterprises complete a license feasibility assessment before launching，Clarify business boundaries、capital requirements、RO configuration and regulatory communication strategy，To reduce uncertainty during the application or acquisition process。
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 covers Hong 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。
