Service

Introduction to TCSCP License

The Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615 ) introduces a new licensing regime for trust or company service providers, which requires trust or company service providers  to start a business on June 28, 2018 ( i.e. at the end of the four-month transition period) or before     applying to the Registrar of Companies for a licence.

 

 

statutory requirements

It is an offence for any person to carry on a trust or company services business in Hong Kong without a licence. Trust or company service licensees are also required to comply with statutory requirements for customer due diligence and record keeping. It is an offence for any person to carry on a trust or company services business in Hong Kong without a licence. Upon conviction, he is liable to a fine of HK$100,000    and imprisonment for 6 months.

 

 

Why choose Li Siyao Accounting Firm

We are a legal TCSP qualified licensed company with many years of experience in handling TCSP license renewal applications.

 

Applying for a Trust or Company Service Provider Licence Requirements?

1. the formation of a corporation or other legal person;
2. 1. act or arrange for another person to act; a director or secretary of a corporation;

   a partner in a partnership; or in the case of another legal person, a similar position or position;

   2. provide a registered office, business address, correspondence or administrative address for a corporation, partnership or any other legal person or legal arrangement;
   3. act or arrange for another person to act as; trustee of an express trust or similar legal arrangement; or

   a nominee shareholder of a person, unless the person is a corporation and whose securities are listed on a recognized stock market,

   does not include that person.

    

    

   Services provided by a trust or company service provider licence

   • Form a company
   • Act as company secretary

   -Provide registered office, business address, correspondence or administrative address

   • Arrange to act as a director or company secretary of the company
   • Arrange the partner of the partnership firm
   • Arrange to act as trustee of an express trust

    

    

   Our services include :

   Assist clients to apply for TCSP license, prepare license application documents and prepare required documents for application

   Wrote letters of appointment as Compliance Officer and Anti-Money Laundering Officer

   Advised to serve as Compliance Officer and Anti-Money Laundering Officer as required by the license Detailed explanation of the licence conditions and additional documents for a TCSP licence

   Detail the responsibilities of TCSP licence holders

   Explain relevant compliance information, such as the Anti-Money Laundering and Counter-Terrorist Financing regulations, document requirements

   Act as the intermediary liaison between clients and regulators, and follow up on the process and progress   of license applications in real time

   Continuous improvement and notification of licensing matters and responsibilities

    

    

   The TCSP review consulting service process we provide for you :

Introduction:

 

Tourism has always been one of the pillars of Hong Kong's economy. For the healthy and orderly development of Hong Kong's tourism industry, the Hong Kong government has promulgated the "Travel Agents Ordinance", which regulates the development of the tourism industry, whether bringing tourists to Hong Kong. Traveling, or transporting tourists to attractions outside Hong Kong, requires a travel agency license.

 

Usage :

 

① After the outbound travel agent has a license

 

can obtain the carriage provided by any means of transport on the journey on behalf of others, the journey starts in Hong Kong, and the main part is carried out outside Hong Kong afterwards

 

1. Can obtain paid accommodation outside Hong Kong on behalf of

 

② After the inbound travel agent has a license

 

1. It can provide transportation services for the journey, the journey starts outside Hong Kong, the journey does not terminate in Hong Kong or involves the passenger passing through an exit control point before leaving Hong Kong;

 

1. Can provide paid accommodation in Hong Kong;

 

1. May provide one or more of the following prescribed services: sightseeing or visiting local places, restaurant meals or other prepared meals, shopping trips, local transportation in connection with the above-mentioned

 

 

Application conditions:

 

① There is a Hong Kong company with issued shares worth at least HK$ 500,000 ;

② The exclusive business address of a travel agency;

 

③ At least one Hong Kong resident with 2 years of tourism-related experience as a manager;

 

④ At least one full-time employee;

 

⑤ Have a paid-in capital of not less than HK$ 500,000 ;

 

⑥ The applicant has no criminal record related to tourism;

 

⑦ Must be a member of one of the eight tourism associations in Hong Kong, and a recommendation letter is required.

 

Note: The eight travel associations are the Hong Kong Association of Travel Agents, the Hong Kong Chinese Entrepreneurs Travel Association, the International Chinese Entrepreneurs Tourism Association, the International Aviation Association's Association of Approved Travel Agencies, the Hong Kong and Taiwan Travel Agencies Association, the Hong Kong China Travel Association, the Hong Kong Outbound Tour Agents Association, and the Hong Kong Japanese Traveller's Handicrafts Association.

 

Application documents and procedures required for application

 

① Required documents for application

 

1. Application form for travel agent license

 

• GS342(s) Application for a licence submitted by an individual or a body that is not a body corporate;

 

• GS342(s) application for a licence submitted by a body

 

1. A statement of particulars in support of this

 

② License application process

 

※ Set up a Hong Kong company and prepare executive identity documents and business plan to join one of the eight affiliated associations;

 

※ Become a member of the Travel Industry Council of Hong Kong (TIC) ;

 

※ Submit travel license related forms;

 

※ After the eight affiliated associations and TIC establish their membership, the license approval process will be officially launched;

 

※ It takes about 3 months to get the application result;

 

※ Pay the license fee at the government office. Precautions:

※ Only a Hong Kong company can apply for a license;

 

※ It must be a physical business, and the address must be a business address;

 

※ If the guest is the director of the company, he must participate in the business and stay in Hong Kong regularly;

 

※ If you open a travel agency as an investment, you can only be a shareholder and sign a statement of "not participating in travel agency business";

 

※ When applying for membership, initial funds must be deposited in the relevant bank account;

 

※ The membership fee of the eight major associations is different;

 

※ The validity period of the license is generally 12 months, and the license for the corresponding period will be issued depending on individual circumstances;

 

※ The monthly license fee is usually charged once every six months / year;

 

※We will borrow recommendation letters to improve the success rate of application.

Introduction to Money Service Operator Licence

 

Money service means money exchange service or money transfer service

 

Currency exchange services means currency exchange services carried on as a business in Hong Kong, but do not include such services incidental to the main business, such as retail businesses that accept foreign currency  in  transactions  or  those  so  run  by  the  person  managing  the  hotel  that  meet  the  following description Serve;

 

(a) the service is operated on the premises of the hotel primarily for the convenience of customers staying at the hotel; and

 

(b) includes only the purchase of non-Hong Kong dollar currency by the person in exchange for Hong Kong dollar currency.

 

 

Remittance service means a service carried on as a business in Hong Kong that provides one or more of the following transactions;

 

(a) send money or arrange to send money outside Hong Kong;

 

(b) receive money from or arrange to receive money from a place outside Hong Kong; (c) arrange to receive money outside Hong Kong.

 

According to the Ordinance, money service operators must appoint a compliance officer and a money laundering  reporting  officer,  whose  main  responsibilities  are  to  review  the  identity  of  customers  and monitor customer transactions to ensure that money laundering and terrorist financing risks are minimized.

 

 

statutory requirements

 

The Anti- Money Laundering and Counter-Terrorist Financing ( Financial Institutions ) Ordinance, Chapter

615 of the Laws of Hong Kong , was amended in February 2018 and renamed as the Guidelines on Anti- Money  Laundering  and  Counter-Terrorist  Financing  (for  Money  Service  Operators  )  and  published  in Effective March 1 , 2018 . Pursuant to the AMLO, anyone who wishes to operate remittance and / or currency exchange services ( i.e. money services as defined in the AMLO ) must apply for a licence from the Commissioner of Customs and Excise ( the Commissioner ) . Operating a money service without a licence issued by the Commissioner commits an offence and is liable on conviction to a fine of $ 100,000 and to imprisonment for 6 months.

 

 

Application conditions

 

The applicant must include each additional premises operating a money service in the licence application or licence renewal application and must pay a fee for each additional premises that needs to be registered. Regardless  of  whether  the  licence  is  subsequently  approved  or  rejected,  the  licence  application  fee charged will not be refunded. The licence granted is valid for two years. Licensees who wish to continue operating money services must apply for license renewal before the expiry date.

 

 

Pursuant to section 30(3) of the Ordinance, the Commissioner may only grant an applicant a licence to operate a money service or renew his licence if he is satisfied

 

 

(a) if the applicant is an individual, the individual and each ultimate owner are fit and proper persons to operate a money service;

 

(b) if the applicant is a partnership, every partner and every ultimate owner of the partnership is a fit and proper person to operate a money service;

 

(c) if the applicant is a corporation, every director and every ultimate owner of the corporation is a fit and proper person to be associated with the carrying on of a money services business.

 

 

In the case of a licence applicant or licensee that is a corporation, the ultimate owner is

 

(a) directly or indirectly owns or controls ( including through trust or bearer shares ) not less than 25% of the issued share capital of the corporation ;

 

(b) is directly or indirectly entitled to exercise not less than 25% of, or govern the exercise of, the voting rights at general meetings of the corporation ; or

 

(c) may exercise ultimate control over the management of the corporation.

 

 

If different money service operators operate independent money service businesses on the same premises, the money service operators sharing the same premises must clearly distinguish the place where they operate their business and the place where their business and transaction records are stored, so that visitors  entering  the  premises  can  Know  exactly  which  money  service  operator  they  are  dealing  with. Applicants should be able to show the Commissioner that their business will not be mixed with that of other money service operators sharing the same premises.

 

 

If the application is approved, Hong Kong Customs will formally issue a money service operator licence, which will clearly state

 

 

1. I. Address of each premises where a licensee may operate a money service

 

1. II. Licensing conditions imposed or modified under the Anti-Money Laundering and Counter-Terrorist

Financing (Financial Institutions) Ordinance and the validity period of the licence

 

1. III. The name and address of the licence holder will also be included in the Register of Licensees at the

Customs and Excise Department

 

 

*  According  to  the  Anti-Money  Laundering  Ordinance,  Bitcoin  or  other  similar  virtual  goods  are  not "money" and are not within the scope of the regulatory regime enforced by Customs. The money service operator license granted by the customs does not confer permission or license for bitcoin or related business forms of similar virtual currency commodities.

Introduction:
1.Most telecommunications licenses need to be applied in the name of a group. If there are special reasons, you can also apply in the nameof an individual.　

　

2.Hong Kong implements legal controls on the import and export of radio transmitting equipment. For example, the TelecommunicationsOrdinance stipulates that those who import and export mobile phones must hold a

 

3. According to Article 9 ofthe "Telecommunication Ordinance", except for the "Radio Business (3) ⑷ Licence [Restriction Restriction]"licensee, any person who wants to import or export wireless transmitters into Hong Kong must hold a license approved by theCommunications Authority. license given.

 

Type of telecommunications license　
　
1. Carrier License: Licenses for laying telecommunications lines and networks, fixed-line telephones, mobile phones, etc. Unless the existinglicense holder gives up or transfers his license,the government will no longer issue such new licenses.　　

2.Public radio communication service license: used by some large businesses, such as minibus terminal, airport paging.　　

3.Service Operator License: It is divided into Category3. The first and second types of services are based on local voice and telephoneservices, and the third type of services are based on network value-added services and mobile communication services.　
　
4. Other category licenses: Individual commercial households need to apply for different exclusive licenses for instruments that useatmospheric radio waves according to different situations.

 

Currently available licences:

 

( 1 ) Ship station license

 

According to the Telecommunications Ordinance ( Cap. ⑴06 ) ( the Ordinance ) , a person who intends to possess, set up and maintain ( or use ) a radio communication station must first obtain a licence. Therefore, persons who intend to maintain and use radio communication stations for radio communication purposes on ocean-going ships and river trade vessels must first apply to the Communications Authority ( CA ) for a ship station licence. The radio communication stations of ocean-going ships may contain global maritime distress and system equipment for general and radio communication purposes.

 

Application information:

 

1. A photocopy of the Hong Kong Merchant Shipping Certificate of Registration issued by the Hong Kong Marine Department;

 

2. A photocopy of the confirmation of the handling of the ship's radio communication account issued by a recognized accounting institution;

 

3. A photocopy of the original ship's radio station licence ( issued by a foreign authority ) and records of the radio installation;

 

4. A completed "ITU Notice ( Ship Station ) ".

 

• Application in the name of a company: A valid business registration certificate, the applicant's ID card or passport, and a small round seal are

 

• Individual application: The applicant's ID card or passport should be application process

Submit application form and required documents → about 4 working days → successful application requires renewal every year.

 

( 2 ) Radio business license

 

This license is required to operate a radio equipment business in the course of business or business operations. You can apply for a temporary permit. Every time you import, export or transship goods, you need to notify the Office of Communications. The permit must be declared at least one working day before, and it can only be used for one-time use.

 

Application information:

 

1. can only be applied as a limited company;

 

2. Generally, the import and export of mobile phones / walkie-talkies or electronic products with WIFI function must use a radio license

 

The complete set of information for Hong Kong companies, the latest information is required for changes. 

 

 

 

 

 

Introduction and Features of Charity Licence

 

Article 88 of the "Inland Revenue Ordinance" , commonly known as 88 cards, also known as charities, is the norm for the Inland Revenue Department to confirm the tax-exempt status to charities in accordance with the relevant ordinance.

 

 

Tax Exemption Application

 

Under section 88 of the Inland Revenue Ordinance , charitable institutions or trusts of a public nature are exempt from tax if they are established for the sole purpose of charitable purposes and their activities are mainly carried out for those purposes. At the same time, donors are entitled to tax deductions under personal assessment, salaries tax and profits tax when accepting any donations for charitable purposes.

 

 

our role

 

Li Siyao & Partners aims to sort out the relevant information and forms provided by the company registry, tax bureau and other government departments in one go. As long as you act in sequence, you can easily apply for your own company, set up your own company, and apply to become a "charity" under section.88 of the Inland Revenue Ordinance.

Introduction : No. 9 license is the 9th type of regulated business qualification license of the Securities and Futures Ordinance issued by the Hong Kong Securities and Futures Commission , that is, the asset management license. No. 9 license has always been a market access license that mainland financial service providers must obtain when they provide international financial services to mainland customers through Hong Kong. It is also a must for mainland public and private funds to use mainland capital and participate in international capital and financial activities. one of the license plates.

 

 

Purpose: Holding this license means obtaining a "pass" in the international capital market, not only to directly participate in overseas investment, but also to manage and use the funds of overseas investors.

 

Application conditions:

 

1. It must be a limited company incorporated in Hong Kong or a non-Hong Kong company registered in the

 

2. The enterprise has an actual office address in Hong Kong (must be written in Grade A).

 

3. There is an experienced management team to assist in operating the company, business framework, internal control system and qualified RO .

 

There must be two licensees. There are no restrictions or special regulations on the nationalities of the licensed individuals and responsible officers. Require at least one responsible officer to be based in Hong Kong to directly supervise the business.

 

1. At least one responsible person in the company must be a member of the board of

 

2. The registered capital of Hong Kong companies is required to be 5 million Hong Kong dollars; the paid-in share capital and liquid capital must be maintained at least 3 million Hong Kong An account must be opened with a bank in Hong Kong.

 

Application information:

 

1. The name or title to be used;

 

2. The reason for using the name or appellation;

 

3. A detailed description of the nature of the actual or proposed business activity;

 

4. The time and place of the relevant business to be or to be carried on;

 

5. The date and place of incorporation;

 

6. A copy of the company's memorandum and articles of association currently in use;

 

7. A recent audited account and annual report (copy);

 

8. Provide an independent assurance report (if the applicant intends to operate a regulated business, Dennett can provide it);

 

9. The first 3 -year business plan of the branch or subsidiary to be established in Hong Kong (if necessary);

 

10. Names and addresses of major shareholders, directors and chief executive officer;

 

11. Company address and telephone / fax number;

 

12. and any other required

Introduction:

 

Financial No. 4 License

 

The Hong Kong Financial License No. 4 is a securities consulting license. Its specific business content is to form an analysis report and a reasonable forecast report in line with the actual situation based on the information such as the business status of the enterprise represented by the securities, or to accept securities holders' opinions on a certain branch. (or multiple) securities-specific consulting, conduct professional analysis and form reports to guide investors in securities trading operations.

Purpose :

A company that has obtained this license can use its own analysis data and research reports to influence the market trend of a certain (or multiple) stocks in the securities market, becoming one of the important factors affecting the trend and stability of the securities trading market.

 

Application conditions :

 

1. Company qualification and capital requirements

 

It must be a Hong Kong company registered under the Companies Ordinance and operating legally. Or an overseas company registered in accordance with the Hong Kong Companies

 

Ordinance. At the same time, it must have a corporate structure suitable for business development, and establish a sound internal control and management system to deal with various business risks that may arise.

 

Since the Type 4 license only provides advice on the buying and selling of securities and does not directly participate in trading activities, the SFC has lower capital requirements (but not no requirements) for such financial service companies. If you want to engage in securities consulting business in Hong Kong, although there is no mandatory requirement to actually subscribe for company shares, you still need to meet the requirement of not less than 100,000 Hong Kong dollars in liquidity, but for some special cases, you still need to meet not less than 5 million Hong Kong dollars The company's share capital subscription, and the liquidity requirement of not less than 3 million Hong Kong dollars.

 

1. Personnel and qualification requirements

 

Since the results of securities trading consulting have a great impact on the interests of clients and are very likely to breed financial insider trading, the Hong Kong Securities Regulatory Commission has higher professional requirements for the personnel of such securities consulting companies, which are embodied in:

 

1. Must pass the professional certification of the Hong Kong Securities and Futures Commission, the certification content includes obtaining a recognized industry qualification examination; obtaining a professional degree in accounting, business administration, economics, finance or law (other majors are also available, but must be in the above 2 Passing grades in the subject); an internationally recognized professional qualification in law, accounting or finance; and more than 5 years of relevant industry

 

2. Must have 3 years of relevant industry experience within 6 years immediately following the date of application . And have a minimum of 2 years of proven management skills and And pass at least 1 accredited examination of the local regulatory framework.

 

Only when the relevant requirements for personnel and company qualifications are met, can an application for a Financial No. 4 license be submitted to the Hong Kong Securities Regulatory Commission. The Hong Kong Securities Regulatory Commission will only issue financial licenses to applicants who meet the requirements after a period of review.