• Professional services include: audit and assurance, tax, accounting and bookkeeping, corporate secretarial services, consulting services, and listing advisory services.

Licence application

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Wilson Accounting Limited

LicenceApplication

Since its establishment, Xuchen Certified Public Accountants is a consulting company that provides professional compliance consulting services, and the team has accumulated many successful experiences. We are adept at leveraging our team members’ past practical experience in licensed institutions, coupled with rich and professional compliance knowledge, to provide specific compliance advice and operational solutions to help our clients comply with local regulations and improve operational efficiency.

1. Money Service Operator Licence (MSO)

Pursuant to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”), any person who wishes to operate remittance and/or money changing services must obtain a licence from the Commissioner of Customs and Excise with effect from 1 April 2012 and is under the supervision of the Customs and Excise Department (“C&E”).

Glorious Morning CPA provides comprehensive advisory services to clients who wish to apply for an MSO license, including assisting in the entire application process, post-application compliance consultation, etc.

Scope of Services

  • Conduct feasibility consultations
  • Advising on compliance with client due diligence, record-keeping requirements, licensing requirements and licensing conditions
  • Prepare the application documents for an MSO licence, including various forms, supplementary documents and business plans, and submit them to the Customs and Excise Department
  • Follow up with the Customs and Excise Department on MSO licence applications until the licence is formally granted

Notes to Applicants

Pursuant to section 30(3) of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615 of the Laws of Hong Kong), the Commissioner of Customs and Excise shall take into account the following factors when granting an application for a money service licence:

  • Whether the applicant has appointed a Joint Venture Compliance Officer or a Money Laundering Reporting Officer
  • whether the applicant or one or more applicants in the applicant's business are fit and proper to carry on money services
  • whether any premises involved in the application are suitable for the operation of money services (e.g. ground floors, mixed commercial and residential buildings)
  • The fit and proper test is based on whether the applicant has been convicted of a relevant offence in or outside Hong Kong, or is involved in personal bankruptcy and winding-up of a company

Required Documents

  • Business plan
  • Certificate of Incorporation (CI)
  • Valid Business Registration Certificate (BR)
  • Identification documents of the company's directors and shareholders
  • Memorandum and Articles of Association (M&A)
  • A document issued by the bank to prove that a bank account is held
  • Annual Return NAR1 and all documents submitted for NAR1 filing
  • Documents relating to the premises to which the application relates (e.g. floor plans, photographs, tenancy agreements or title records)
  • Incorporation Form NNC1 (Company Limited by Shares) or Form NNC1G (Company other than Company Limited by Shares)

2. Money Lender Licence (ML)

A money lender’s licence is required for any person to carry on a money lender’s business in Hong Kong. The licensing of money lenders and money lending transactions are governed by the Money Lenders Ordinance (Cap. 163). The vetting authorities are the Licensing Tribunal, the Registrar of Money Lenders (now the Registrar of Companies) and the Commissioner of Police.

Glorious Morning CPA provides comprehensive advisory services to clients who wish to apply for a money lender’s license, including assisting in the entire application process, post-application compliance consultation, etc.

3. Securities and Futures Commission License (SFC)

Any corporation carrying on regulated activities in Hong Kong (e.g. dealing in securities, securities advisory, corporate finance advisory or asset management, etc.) is required to obtain one or more relevant licences from the Securities and Futures Commission (SFC) of Hong Kong

Any person who carries on the 10 regulated classes under the Securities and Futures Ordinance (Cap. 571) in Hong Kong is required to obtain a corresponding SFC license. The SFC’s licensing and related transactions are regulated by the Securities and Futures Ordinance and are approved by the Chairman of the SFC.

Glorious Morning CPA provides comprehensive advisory services to clients who wish to apply for an SFC license, including assisting in the follow-up of the entire application process, pre-application compliance consultation, etc.

Overview of Licensing Services

Financial Industry License

  • Money Service Operator License
  • SFC license
  • Money lender license
  • Insurance Brokerage License

Restaurant Licence

  • General Restaurant Licence
  • Import & Export Distributor License
  • Light Refreshment Restaurant Licence
  • Bakery Licence
  • Frozen Confectionery Manufacturing Factory License
  • Liquor license
  • Licence for other types of restaurants

Other types of licenses

  • Radio Dealer License
  • Import & Export Distributor License
  • Precious metals and gemstones dealer A&B

License application service process

01

Company Registration

02

Prepare application documents and arrange for a store or office

03

Preparing to apply

04

Submit the application officially

05

Meetings with relevant departments and site visits

06

Review Complete

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