Hong Kong Asset Management License No. 9：Application conditions、Processing procedures and competency requirements of responsible personnel

Hong Kong No. 9 plateyesHong Kong Securities and Futures CommissionFinancial qualifications for Type 9 regulated business under the Securities and Futures Ordinance，that is commonly referred to asAsset management license。The enterprise or institution holding the license，May provide services for managing portfolios of securities or futures contracts。

Completed by business or organizationHong Kong No. 9 plate processingback，Will be eligible to provide stocks to domestic and foreign institutions、fund、Bond and other investment portfolio management services，Thus becoming a private equity or public equity fund company in Hong Kong。

Application from mainland private equity institutionsHong Kong No. 9 platecore motivation

Why are mainland private equity companies eager to obtain Hong Kong’s No. 9 license plate? The main reasons are as follows：

1. FinishHong Kong No. 9 plate applicationback，The company can provide stocks to domestic and foreign institutions、fund、Bond and other investment portfolio management services。
2. With the help of Hong Kong asset management platform，Companies can not only develop more overseas real estate or stock funds and other products，Investment immigration can also be introduced、Investment consulting and other value-added services，Provide diversified services to high net worth clients。
3. Overseas investors are more rational，Once funds are selected，Very stable for long-term holding，Different from the speculative tendency of mainland customers。
4. Overseas investors have more relaxed performance requirements。In China, it is required to achieve positive returns and hit new highs before withdrawing 20% ​​of floating returns.，Overseas, you only need to exceed the international mainstream stock index to withdraw profits.。This is alsoHong Kong No. 9 plate processingProcess requirements are higher、But there are still important reasons that attract many companies to apply.。
5. Private equity institutions can participate in overseas investments，On the one hand, expand the scope of investment targets，On the other hand, the investment atmosphere in overseas markets is relatively rational and the operating system is complete.，Create a better environment for private equity institutions that pursue value investment concepts。
6. Establishing an investment company in Hong Kong enjoys tax benefits compared to those in China。Many private equity firms are currently registered in the Cayman Islands，At the same time, a fund management company was established in Hong Kong，Can significantly reduce tax burden。
7. After private equity institutions accumulate operation and investment experience in international markets,，Can cultivate a more mature operating model and management team，Improve one's competitiveness，Officially entered the ranks of international asset management companies。

Application conditions for Hong Kong No. 9 plate

Among the application conditions for Hong Kong No. 9 plate，There are some hard requirements：

• Enterprises must have individual licensed personnel holding Hong Kong license No. 9，and passed the examination of the Securities and Futures Commission of Hong Kong。
• The company must have a physical office address in Hong Kong，And have an experienced management team to assist in operating the company。
• Lease agreement required。

Company requirements in the Hong Kong No. 9 plate application process

In the process of applying for Hong Kong No. 9 plate，Companies need to meet the following main requirements：

1. The asset management company applying for a license must be a company incorporated in Hong Kong，or an overseas corporation registered with the Companies Registry。According to the Securities and Futures Ordinance，Neither a sole proprietorship nor a partnership will be issued a license。
2. The China Securities Regulatory Commission will consider the company’s financial condition and solvency、Qualifications and experience of each person，and whether the company has the ability to carry out regulated activities competently。
3. In terms of ability，The company must demonstrate that it has an appropriate business structure、Good internal control system and qualified personnel，Ensure proper risk management capabilities and compliance with relevant rules and regulations。
4. The company must have at least twoResponsible person。licensed individuals andResponsible personnationality，The Securities and Futures Commission of Hong Kong stated that the mainland、Hong Kong or foreign identity is acceptable。However, at least one responsible officer must be based in Hong Kong，in order to directly supervise the relevant business；The responsible officer does not need to be in Hong Kong at all times，However, the SFC must be able to contact immediately at least one responsible officer of the asset management company when necessary。Except for the responsible person，Any person who is a licensed asset management company or conducts asset management activities on its behalf must be licensed as a representative。
5. At least one responsible person within the asset management company must be a member of the board of directors。If other board members are not actively involved in or responsible for direct supervision of asset management activities，You do not necessarily need to be licensed to be a responsible person in the asset management business。
6. Companies planning to apply for a Securities Regulatory Commission license must meet relevant capital requirements。If you hold a Type 9 license and do not hold client assets，The company must maintain liquid capital of HK$100,000。The general requirement for working capital is HKD 3 million，Non-current assets must be HK$100,000，Registered capital is at least HKD 5 million。

Competency regulations for responsible personnel

The Hong Kong No. 9 plate application process has relatively strict competency requirements for the responsible personnel.。When an individual applies for a license from the Securities and Futures Commission，Must demonstrate that they have met the standards of competence and integrity，Be a fit and proper person to carry out regulated activities。The specific provisions are as follows：

• Academic or industry qualifications：Hold a university degree in a specified field (e.g. accounting、Certified Financial Planner、economy、or other degree and have passed at least two subject examinations in designated areas、Business Administration、Finance and Legal)，or obtain a professional qualification (e.g. Chartered Financial Analyst)。
• Relevant industry experience：Have at least 3 years of relevant industry experience within the past 6 years。
• Management experience：At least 2 years of management experience。
• Pass the local regulatory framework exam：Must pass the Securities and Futures Practitioners Qualification Examination Papers 1 and 6 of the Hong Kong Securities Institute (applicable to Type 9 Regulated Activities License)。

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