MSO Licensing Peculiarities and Basis

Published:
March 3, 2025
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Companies that offer financial services in Hong Kong, in almost any case, must have the appropriate license obtained directly in Hong Kong. Talking about MSO licensing peculiarities, we should mention that Money Service Operators License (MSO) is a financial operator license that allows a firm to offer currency exchange and cash transaction services. Currency exchange service is carried out in Hong Kong or from this, but this is not a secondary service to the main business. Let’s say you have a retail business that needs to accept payments in foreign currencies. This can be done in a number of cases.

  1. If the service is used in a hotel, so that guests can conveniently pay.
  2. If the company exchanges foreign money for the local currency of Hong Kong.

Money transfer field is one or more of the services listed below, carried out in or from Hong Kong:

  • transmitting money to any place outside Hong Kong;
  • receiving money from all places that is outside Hong Kong;
  • arranging the receipt of funds outside jurisdiction.

If a firm operates without a license, it can receive a $100,000 fine and go to jail for six months. Licensing is carried out both for local enterprises and for foreign ones. An MSO license applicant can be:

  • LLC verified in Hong Kong;
  • unlimited liability firm;
  • foreign structure.

Regardless of fact that both locals and foreigners can obtain a license, firm should have physical commercial space in Hong Kong. It is important to carefully study demands for renting an office, as this is significant checkpoint before obtaining a license.

When you first apply, you should have the main package of papers. These are documents on the company, on organization’s employees, activities plan, AML policy, and documentary evidence of physical company address where office is located.

Establishment in Hong Kong is up for sale

This is a company that has a Hong Kong MSO license. Anyone who wants to work in the field of financial management in Hong Kong must pass such a license.

What is included in the offer?

  1. License that was obtained in 2021.
  2. A clean company with no history of activity that has 2 bank accounts: a corporate one with HSBC. Segregated with Asia Bank HK.
  3. Also, 2 qualified employees will remain working (1 AML specialist and 1 technical support).
  4. Full support during the transition period and beyond.

This MSO licensed firm can provide financial management services such as cash exchange and money transfer. There are no new owner requirements yet, but the current owner wants a match before the sale. Compliance Director must be 1 person. You will also need to pay tax for license renewal every 24 months.

If you have the intention to start your own commercial project, consider ready businesses for sale. ELI Deal will advises you on any issue, and offers many deals in certain categories, in particular, “MSB (Money Service Business License) Canada”, “Bank with Crypto License”, “Class A bank license” and many others.

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