LICENSES
Asia Strategic Growth Enterprises helps all businesses not only reach, but exceed their goals. Our experience helps us lay out a strategy that perfectly fits our clients. This collaboration is essential for the successful transition from strategy, to plan, to action.
The four financial regulators are the Hong Kong Monetary Authority (HKMA), the Insurance Authority (IA), the Mandatory Provident Fund Schemes Authority (MPFA)and the Securities and Futures Commission (SFC). Those issue and oversee different activities and licenses.
MSO
(MONEY SERVICE OPERATORS)
Any person operating a money service should be licensed with the Commissioner of Customs and Excise pursuant to the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (Chapter 615 of the Laws of Hong Kong) (the “AMLO”).
Functions included:
(1) sending, or arranging, for the sending of money to a place outside Hong Kong;
(2) receiving, or arranging for the receipt of, money from a place outside Hong Kong;
(3) arranging for the receipt of money in a place outside Hong Kong.
Asia SGE is relying on expert vetted third parties taking full responsibility and spearheading the process on the behalf of the client with fluid communication and transparency.
The service includes bank account opening.
SFC LICENSES
The Securities and Futures Commission of Hong Kong is the independent statutory body charged with regulating the securities and futures markets in Hong Kong.
If you are reading this, it is likely you will need a license unless you: are an authorized financial institution (bank or deposit-taking company) and you carry on a business in one or more regulated activities. actively market to the public any services that you provide that could constitute a regulated activity (if provided in Hong Kong).
There are a variety of licenses depending on the activities you carry. If you are not sure about which licenses you need, reach out to us for a consultation session explaining your business model.
Asia SGE is relying on expert vetted third parties taking full responsibility and spearheading the process on the behalf of the client with fluid communication and transparency.
VIRTUAL BANK AND ASSETS
"The introduction of virtual banks in Hong Kong is a key pillar supporting Hong Kong's entry into the Smart Banking Era. The HKMA believes that the development of virtual banks will promote fintech and innovation in Hong Kong and offer a new kind of customer experience. In addition, virtual banks can help promote financial inclusion as they normally target the retail segment, including the small and medium-sized enterprises (SMEs)." - HKMA
Please reach out to us for a Consultation Session and guidelines.
Asia SGE is relying on expert vetted third parties taking full responsibility and spearheading the process on the behalf of the client with fluid communication and transparency.