Hong Kong Crypto License

zHong Kong is a leading global financial center that has embraced the cryptocurrency revolution with open arms. Obtaining a crypto license in Hong Kong positions your business at the forefront of innovation, offering access to a dynamic market with robust regulatory support.

Why Choose Hong Kong for Your Crypto Business?

• Regulatory Clarity: Governed by the Securities and Futures Commission (SFC), Hong Kong provides a clear and comprehensive regulatory framework for Virtual Asset Service Providers (VASPs).
• Strategic Location: As a gateway between the East and the West, Hong Kong offers unparalleled access to international markets and investors.
• Investor Confidence: Operating under stringent regulations enhances your credibility, ensuring trust among clients and stakeholders.

Our Crypto Licensing Services

We specialize in guiding businesses through the complexities of obtaining a crypto license in Hong Kong. Our expert team provides end-to-end support, ensuring a seamless and efficient licensing process tailored to your specific needs.

Key Features of Hong Kong’s Crypto Licensing Regime

• Mandatory Licensing: As of June 1, 2023, all crypto exchanges and service providers targeting Hong Kong investors or operating within Hong Kong must obtain a license under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).
• Capital Requirements: Minimum paid-up share capital of HKD 5 million (~USD 640,000) and liquid capital of at least HKD 3 million (~USD 385,000).
• Management Criteria: At least two Responsible Officers (ROs) with relevant experience who are Hong Kong residents and meet the SFC’s fit and proper criteria.
• Compliance and Risk Management: Implementation of robust AML/CFT policies, corporate governance structures, risk management systems, and cybersecurity measures.
• Investor Protection: Strict requirements for asset custody, disclosure obligations, and complaint handling to safeguard client interests.

Our Process

1. Initial Consultation

   • Assess your business model and determine specific licensing requirements.
   • Provide detailed guidance on regulatory obligations and timelines.

2. Preparation of Application

   • Assist in preparing all necessary documents, including business plans, compliance manuals, organizational structures, and financial projections.
   • Ensure all Responsible Officers and key personnel meet the SFC’s criteria.

3. Submission to the SFC

   • Compile and submit the complete application package to the SFC.
   • Handle all communications and queries from the regulator on your behalf.

4. Regulatory Liaison

   • Facilitate any additional information requests or interviews required by the SFC.
   • Provide ongoing support throughout the review process.

5. Post-Licensing Support

   • Assist with meeting ongoing compliance obligations.
   • Offer advisory services for regulatory updates and best practices.

Estimated Timeframe and Costs

• Timeframe: The licensing process typically takes 9 to 12 months, depending on the complexity of your application and the SFC’s review process.
• Fees:
  • Application Fee: HKD 129,740 (~USD 16,700) per regulated activity.
  • Annual Licensing Fee: HKD 86,890 (~USD 11,200) per regulated activity.
• Additional Costs:
  • Professional services fees for legal, compliance, and consultancy services.
  • Operational expenses for setting up a local office, hiring staff, and implementing IT systems.
  • Insurance costs for professional indemnity coverage.

Benefits of Partnering with Us

• Expert Guidance: Our team has extensive experience with Hong Kong’s regulatory environment and the SFC’s licensing procedures.
• Customized Solutions: We offer tailored strategies to meet your specific business needs and objectives.
• Efficient Process: Our streamlined approach minimizes delays and enhances the likelihood of a successful application.
• Ongoing Compliance Support: We provide post-licensing services to help you maintain compliance and adapt to regulatory changes.

Get Started Today

Embarking on the licensing journey in Hong Kong can be complex, but with the right partner, it becomes a manageable and rewarding process. Let us help you unlock new opportunities and elevate your crypto business to the next level.

Contact Us for a Free Consultation

• Email: office@the-comply.com
• Phone: +1(213)510-0498
• Disclaimer: The information provided is for general guidance and informational purposes only. While we strive to keep the information up to date and correct, regulations may change, and we recommend consulting with our experts or legal professionals for personalized advice.