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Licensing system for trust or company service providers
After the implementation of Part 5A of the Anti Money Laundering and Counter Terrorist Financing Ordinance (Chapter 615) (hereinafter referred to as the "Anti Money Laundering Ordinance"), the "Trust and Company Service Provider Registration Office" under the Companies Registry (hereinafter referred to as the "Registry") will implement and enforce a new licensing system for trust or company service providers.
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Money lender's licence
Anyone operating a money lender business in Hong Kong must obtain a money lender license. The licensing and lending transactions of money lenders are regulated by the Money Lenders Ordinance, Chapter 163 of the Laws of Hong Kong.
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Supervision of Money Service Operators (MSOs)
The Anti Money Laundering and Counter Terrorist Financing Ordinance, Chapter 615 of the Hong Kong legislation, was revised again in December 2022 and will come into effect on April 1, 2023. According to the Anti Money Laundering Regulations, anyone who wishes to operate remittance and/or currency exchange services (i.e. money services as defined in the Anti Money Laundering Regulations) must apply for a license from the Customs Commissioner (Commissioner).
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Combat money laundering and terrorist fundraising
The international standards for combating money laundering and terrorist fundraising are developed by the Financial Action Task Force (FATF). As a member of FATF, Hong Kong is implementing the recommendations issued by this intergovernmental organization on combating money laundering, terrorist fundraising, and proliferation fundraising. In Hong Kong, the main legislation related to money laundering, terrorist financing, and proliferation financing is the Anti Money Laundering and Counter Terror
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Exemptions from applying for a licence
This section outlines certain circumstances in which exemptions from the licensing requirements under the Securities and Futures Ordinance may apply.
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