Hong Kong as Asia’s financial center，Has an open financial policy and a huge foreign exchange market，Attracting many companies to deploy cross-border payments、Fund management and currency exchange services。operating a currency exchange business in Hong Kong orRemittance service，All must holdmoney service operator(MSO) license。Detailed introduction belowMSO licenseservice scope、Application information andViolation penaltiesetc.。
one、Definition and service scope of MSO license
According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615)，Money service refers tocurrency exchange servicesor money transfer service。The specific definition is as follows：
currency exchange services
Currency exchange services refer to currency exchange services operated as businesses 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 so operated by the person who manages the hotel、Services that meet the description below：
(a) the service is operated on the hotel’s premises，Mainly for the convenience of customers staying in the hotel；
(b) Only includes the person’s purchase of non-Hong Kong dollar currencies in exchange for Hong Kong dollar currencies.。
Remittance service
Remittance services refer to those carried on as a business in Hong Kong、Provide services for any of the following transactions：
(a) Sending money or arranging for money to be sent to a place outside Hong Kong；
(b) Receive or arrange to receive money from a place outside Hong Kong；
(c) Arrange to receive money outside Hong Kong。
two、Legal basis and penalties for violations
In accordance with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance，Anyone wishing to operate money services must apply for a license from the Commissioner of Customs and Excise。It is an offense to operate money services without a license，Once convicted，punishable by a fine of HK$100,000 and imprisonment for 6 months。
three、Apply for a money services operator licenseRequired information
To apply for an MSO license, you need to submit the following documents:：
- Original registration certificate of the company applying for；
- Original business registration certificate (BR) of the company you are applying for；
- Apply for clear scans of ID cards or passports of company directors and shareholders；
- Apply for clear scanned copies of travel documents (Hong Kong and Macau passes) of company directors and shareholders；
- Two copies of the company’s articles of incorporation；
- Apply for a copy of company account information，Can accurately reflect the company’s account name and account number；
- Company business description。
Four、Process and professional support
The application procedure for MSO license is clear，But the overall process may take longer、Spend more energy。Enterprises can entrust qualification processing to professional institutions，Improve efficiency。Hong Kong Xintong Business Service Company has been focusing on qualification agency for 12 years，Has far-reaching influence and good reputation in the industry，Provide reliable MSO license application for your business、Transfer and other one-stop services。
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。
