© 2025 Copyrights by Law's Business Accounting Ltd.
© 2025 Copyrights by Law's Business Accounting Ltd.
Money lender businesses generally refer to providing loans to others, distinct from banks or financial institutions. This includes secured and unsecured loans, such as: (1) personal and commercial credit, (2) mortgages, (3) auto, equipment, and heavy machinery leasing, (4) credit card financing, promissory notes and bill discounting, (5) SME loans, (6) secured loans, and (7) syndicate loans, etc.
The following documents must be submitted when applying for a license:
Applicant's application and declaration form;
Documents proving the applicant's capability to conduct money lending business;
Documents proving the applicant's financial status;
Lease and floor plan of the premises intended for conducting the money lending business;
Written permission from the owner regarding the premises intended for conducting the money lending business;
"Occupation Permit" issued by the Buildings Department;
Land Registry search of the premises from the Land Registry;
Annual return form (if the applicant is a company);
According to Hong Kong Ordinance Chapter 615, the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, anyone operating money services in Hong Kong (including currency exchange services and remittance services) must apply for a license from the Customs and Excise Department of Hong Kong; otherwise, it is a criminal offense. License holders must obtain a license issued by the Customs and Excise Department before operating money services. The license is generally valid for two years, so renewal must be applied for before the license expires to continue operating their money services.
Money Services
Currency exchange services refer to currency exchange services operated as a business in Hong Kong, but do not include such services incidental to the main business.
Remittance services refer to services operated as a business in Hong Kong that provide one or more of the following transactions:
The following documents must be submitted when applying for a license:
After receiving the license application, the Customs and Excise Department will issue a confirmation to the applicant and verify the submitted documents, and may ask the applicant for clarification if necessary. The applicant must bring the notification, payment record, and required original documents to meet with Customs officials after receiving the meeting notification and payment notice for the license application and appropriate candidate assessment fee. The applicant must formally sign the license application in front of the Customs staff.
If the application is approved, the Customs and Excise Department will officially issue the Money Service Operator License, which will clearly state the following items:
**The name of each license holder and the address of each place authorized to operate money services will also be recorded in the Customs and Excise Department's register of license holders.
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