Detailed introduction to the MSO license is to take pictures of Hong Kong’s thousands of years of service，A license established by a person who operates or intends to operate currency exchange or remittance services in Hong Kong，Relevant audits of licensed institutions will be conducted every quarter。Generally speaking，Companies involved in cross-border payment business will need this license.。For example，We want to buy foreign products in China，It will involve collecting foreign currency funds for export companies，Implement fund conversion between two countries for importing companies。
At this time，It is very necessary to apply for an MSO license。This article mainly introduces to you，About the application process time for MSO license，How to apply for a money services license quickly。What format is used for a money services operator license?
The money services operator license must be in a form specified by the Commissioner，and shall—(a)Specify— (i)For the purpose of a license to operate money services in specified premises，the address of each premises at which the licensee may operate money services；(ii)in any other case) the correspondence address of the relevant licensee；(b)Validity period of specified license。How long is the validity period of the license granted? Normally，The license granted is valid for two years。
If the licensee wishes to continue operating money services，Application for license renewal must be submitted before expiration of validity period。anyway，A license ceases to be valid if—(a)If the licensee is an individual，and the individual dies；(b)If the licensee is a partnership，and the partnership is dissolved；or(c)If the licensee is a corporation，and the corporation began to be wound up。What are the consequences of operating a money service without a license?
Any person operating a money service without a license，It is a crime。Once convicted，Can be fined HK$100,000 and jailed for up to 6 months。Who is eligible to obtain a license?
(a)The applicant is an individual，the individual and each ultimate owner are fit and proper persons to operate the money service；(b)The applicant is a partnership，Each partner and each ultimate owner of the partnership is a fit and proper person to carry on money services；(c)The applicant is a corporation，Each director and each ultimate owner of the corporation is a fit and proper person in connection with the conduct of a money services business。What is a lifelong owner?
Where the license applicant or licensee is an individual，The ultimate owner is -(a)means another individual who ultimately owns or controls that individual’s money services business；or(b)(if the first-mentioned individual is acting on behalf of another person) means that other person。
Where the license applicant or licensee is a partnership，The ultimate owner is an individual who meets the following description -(a)has the right, directly or indirectly, to share or control more than 25% of the capital or profits of the partnership；(b)Directly or indirectly entitled to exercise more than 25% of the voting rights in the partnership，or the exercise of voting rights that govern that proportion；(c)exercise ultimate control over the management of the partnership。
Where the license applicant or licensee is a corporation，The ultimate owner is an individual who meets the following description -(a)own or control, directly or indirectly(Includes holding through trust or bearer shares)More than 25% of the issued share capital of the corporation；(b)Directly or indirectly entitled to exercise more than 25% of the voting rights at general meetings of the corporation，or the exercise of voting rights that govern that proportion；or(c)may exercise ultimate control over the management of the corporation。
Since the establishment of Hong Kong Information Communications，We have helped dozens of companies, large and small, successfully obtain Hong Kong financial licenses。The above is only the information provided for applying for Hong Kong Money Service Photography。If you have questions about the application process time for MSO license，How to apply for a money services license? Any questions?，Or there are other needs，You can contact me directly，Learn more。
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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。
