A person carrying on business as a money lender in Hong Kong must obtain a money lender’s licence. The licensing of money lenders and regulation of money-lending transactions are governed by the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong) (MLO). The governing authorities are:

Licensing Court – Responsible for determination of applications for and granting of money lenders licences.

Registrar of Money Lenders (the role is presently performed by the Registrar of Companies) – Responsible for processing applications for money lenders licences, renewal of licences and endorsement on licences; as well as maintaining a register of money lenders for inspection by members of the public.

Commissioner of Police – Responsible for enforcing the Money Lenders Ordinance, including carrying out examinations on applications for money lenders licences, renewal of licences and endorsements on licences; and investigations of complaints against money lenders

Hong Kong Money Lender License Legal Requirements

Hong Kong Money Lender License

Description

General

  • Corporate  vehicle permitted

Hong Kong Company

  • Local physical office required

No

  • Validity of Licence

2 Years

Directors

  • Minimum number

2

  • Corporate directorship allowed

Yes

  • Local director required

No

Shareholders

  • Minimum number

2

  • Corporate shareholders allowed

Yes

  • Local  shareholders required

No

Service Providers Required

  • Company Secretary

Yes

Accounts

  • Requirements to File

Yes

Hong Kong Money Lender License Tax Treatment

There is no capital, value added or inheritance taxes in Hong Kong, nor any stamp or document duties except in respect of Hong Kong real property. 

Hong Kong Money Lender License Duration to Set Up

1 – 2 months

Hong Kong Money Lender License Distinctive Benefits

  • There is no capital, value added or inheritance taxes in Hong Kong, nor any stamp or document duties except in respect of Hong Kong real property.
  • There is no requirements for presence of a physical office
  • There are no minimum capital requirements

Why US (Key Strengths)

  1. We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances.
  2. Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  3. We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly.
  4. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  5. We have a full in-house compliance support for all compliance requirements with the regulator and service providers