The Money Service Operator License (MSO license) is a legal permit that allows the provision of currency exchange, cross-border remittance, and other related financial services in Hong Kong.
Advantages:
Legal operation: Having an MSO license means that your business operates legally in Hong Kong, which helps establish credibility and trust and attracts more customers.
Financial regulation: Holding an MSO license means that your business is regulated by the Hong Kong Monetary Authority, which helps ensure that your business complies with regulatory standards, including anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
Market access: Holding a license makes it easier to enter the Hong Kong financial services market, which is a potential market that attracts many international clients.
Increased customer trust: Holding a license can increase customer trust in your business because they know that you are supervised and protected by regulatory authorities.
Compliance: MSO license holders must comply with a range of compliance requirements, which can help prevent illegal activities and financial crimes.
What we are responsible for:
Document preparation: A series of documents need to be prepared, including company registration certificates, shareholder information, financial statements, business plans, AML/CTF policies and procedures, etc.
Application submission: The application is submitted to the Hong Kong Monetary Authority (HKMA). Ensure that all necessary forms are filled out and pay the application processing fee.
Undergo investigation: The HKMA will conduct a review of the business to ensure compliance with regulatory requirements. This may include on-site inspections and interviews.
Await approval: Once the application is approved, the MSO license will be obtained, and the legal operation of financial services can begin.