According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, Chapter 615(Regulations)Relevant powers given to，From April 1, 2012，Hong Kong Customs and Excise Department(customs)is the relevant authority that regulates money service operators。Anyone operating a money service must report to the Commissioner of Customs and Excise(Commissioner)Apply for a license。Any person operating money services without a license in Hong Kong commits an offense。one、What is money service? Money service refers to currency exchange service or money transfer service。
What is a currency exchange service? currency exchange services(moneychangingservice)Refers to currency exchange services carried out as a business in Hong Kong，However, it does not include such services incidental to the main business，For example, a retail business that accepts foreign currency in transactions or is so operated by a person who manages a hotel。What is a money transfer service?
Remittance service(remittanceservice)Refers to a business conducted in Hong Kong、Providing one or more than one of the following transaction services：(a)Send money or arrange for money to be sent outside Hong Kong；(b)Receiving or arranging to receive money from a place outside Hong Kong；(c)Arrange to receive money outside Hong Kong。
two、Application for Hong Kong Money Service Operator License
Require
- shareholder，director，Anti-Money Laundering Suitable Personnel
Require
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- Fixed business or contact address；
- pay license
cost
；4、Keep proper books and accounts；three、The first step in the Hong Kong money service operator license application process，due diligence：Shareholder background，financial strength，Company business scope and direction，Suitable candidates determined，Local company registration，Bank account opening。
Step 2，Prepare information：According to the actual situation of the company，Prepare relevant documents for licensing and submit to regulatory authorities。Step 3，CEO interview：Regulators conduct interviews with company’s anti-money laundering staff。Step 4，Registration successful：After the regulatory authorities have no doubts about all the information and questions，The company will be issued a license and announced online.。
Four、Apply
cost
Apply
cost
Generally includes due diligence on the company to be registered、Data preparation、Registration document preparation、Communicate with regulatory authorities and provide necessary financial information during the application process、law、Compliance Consultant
cost
，For details, please consult our customer service staff。five、The application time starts from the date the regulatory authority accepts the application.，Usually it can be completed in 2 months。
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。
