Money Service Operators
Licensing Guide
Customs and Excise Department
April 2023

Anti‐Money Laundering and Counter‐Terrorist Financing Ordinance,
Chapter 615
Licensing Guide for Money Service Operators (MSOs)
Summary
1.
The purpose of this noticeThis licensing guide will help you to find out:‐ whether you need to apply for an MSO licence with us when and how to apply for an MSO licence what fees you need to pay what the fit and proper person test is for MSOs
 what the suitable premises are for operating a money service
2.
What is included in this licensing guide?
Section I
Gives a brief overview of the role of the Customs and Excise
Department (C&ED) as the relevant authority under the AMLO.
Section II
Explains who needs to apply for a licence as an MSO.
Section III
Explains who does not need to apply for a licence.
Section IV
Explains who is eligible for an MSO licence.
Section V
Explains how to apply for a licence as an MSO.
Section VI
Explains how to renew for an MSO licence.
Section VII Explains the Commissioner of Customs and Excise (CCE)’s ability tosuspend or revoke an MSO licence.
Section VIII Explains the changes that need the prior approval of the CCE.
Section IX
Explains what to do if you have other business details changed after you
have been licensed.
Section X
Explains what to do if you cease your whole business or business in
specified premises.
Section XI
Explains what to do to maintain an MSO licence.
Section XII Explains what the Licensee Register contains and where to inspect.
Section XIII Explains what disciplinary action is.
Section XIV Explains the fee schedule of application for an MSO licence and its
related issues.
Section XV Explains whom you can contact if you need further advice.
Section XVI Provides the list of documents required in support of the application for
grant or renewal of an MSO licence1Table of Contents
SectionI

Page
3

IntroductionII

Licence application

3

III

Exemption

5

IV

Eligibility for a licence

6

V

Application procedures

12

VI

Renewal of licence

16

VII

Revocation and suspension of MSO licence

17

VIII

Changes that require CCE’s prior approval

18

IX

Notification of changes in particulars

20

X

Cessation of business

22

XI

Licensee’s obligations

23

XII

Register of licensees

24

XIII

Disciplinary actions

24

XIV

Fee schedule

25

XV

Enquiries

25

XVI

Checklist of supporting documents for application for an
MSO licence

26

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I. Introduction
1.1 The Customs and Excise Department (C&ED) is the authority for regulating themoney service operators (MSO) with effect from 1 April 2012. Relevant powers areprovided under the Anti‐Money Laundering and Counter‐Terrorist Financing
Ordinance, Chapter 615 (AMLO).
1.2 This licensing guide is for individuals and corporations who operate or wish tooperate money service in Hong Kong. It sets out notes on the licensing requirements
under the AMLO and explains the application procedures in details. It also provides
information relating to the on‐going obligations for MSO licensee (licensee) andpossible actions taken by C&ED for the improper acts.
1.3 This licensing guide applies to an applicant for grant or renewal of an MSO licence(applicant) or a licensee as the case may be.

II. Licence application
2.1

Who is required to apply for a licence?
If a person who operates or wishes to operate a money service, he or she is required
to apply for a licence.

2.2 What is a money service?
A money service means a money changing service or a remittance service.
2.3 What is a money changing service?
A money changing service means a service for exchanging of currencies that is
operated in Hong Kong as a business, but does not include such a service that isincidental to the main business e.g. retail business accepting foreign currencies intransactions or that is operated by a person who manages a hotel if the service(a) is operated within the premises of the hotel primarily for the convenience ofguests of the hotel; and(b) consists solely of transactions for the purchase by that person of non‐HongKong currencies in exchange for Hong Kong currency
2.4 What is a remittance service?
A remittance service means a service of one or more of the following that is
operated in Hong Kong as a business—(a) sending, or arranging for the sending of, money to a place outside Hong Kong;(b) receiving, or arranging for the receipt of, money from a place outside HongKong;(c) arranging for the receipt of money in a place outside Hong Kong.
32.5

Is there a licence application fee?
Yes, there is a fee for application for the grant or renewal of a licence (see Feeschedule at section XIV).

2.6

Is it required to make a separate application for additional premises in which amoney service is operated other than the principal premises during the application
for the grant of a licence?
No, a separate application is not required. The applicant must include each
additional premises in which money service is operated in an application for licenceand pay a fee for each additional business premises to be registered (see Fee
Schedule at section XIV).

2.7 When is it required to apply for a licence?
A person must apply for a licence from the CCE before he or she operates a money
service.
2.8Will an application fee collected for processing of the application for grant or
renewal of an MSO licence be refunded if the CCE refuses to grant or renewal alicence?
No refund will be made for application fee collected irrespective of whether theapplication is subsequently approved or refused.

2.9

What will be the form of licence to MSO?
A licence to MSO is to be in a form specified by the CCE and must—(a) specify—(i) in relation to a licence to operate a money service at specified premises,
the address of every premises at which the licensee may operate amoney service; or(ii) in any other case, the correspondence address of the licensee;(b) be endorsed with the conditions imposed or amended under section 30, 31 or
32 of the AMLO; and(c) specify the period for which the licence is valid.

2.10

What is the validity period of a licence granted?
Normally, the validity period of a licence granted will be 2 years. The licensee isrequired to apply for renewal of the licence before expiry if the applicant wishes tocontinue operating a money service.
In any other cases, a licence ceases to be valid—(a) if the licensee is an individual, on the death of the individual;(b) if the licensee is a partnership, on the dissolution of the partnership; or(c) if the licensee is a corporation, on the commencement of winding up of thecorporation.

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2.11 What is the consequence of not applying for a licence to operate a money service?
Section 29(1) of the AMLO provides that a person commits an offence if the person
operates a money service without a licence. Section 29(2) of the AMLO
provides that a person who commits an offence under section 29(1) is liable—(a) on conviction on indictment to a fine of HK$1,000,000 and to imprisonmentfor 2 years; or (b) on summary conviction to a fine of $100,000 and to
imprisonment for 6 months.

III. Exemption
3.1

Are there any licensing exemptions?
Yes, according to the AMLO, the MSO licensing requirement does not apply to theGovernment nor to:(a) an authorized institution;(b) a licensed corporation that operates a money service that is ancillary to thecorporation’s principal business;(c) an authorized insurer that operates a money service that is ancillary to theinsurer’s principal business;(d) an authorized insurance broker that operates a money service that is ancillary
to the broker’s principal business;(e) an appointed insurance agent that operates a money service that is ancillary
to the agent’s principal business;(f) an SVF licensee that operates a money service that is ancillary to thelicensee’s principal business; or(g) a system operator or settlement institution of a designated retail payment
system that operates a money service that is ancillary to its business as asystem operator or settlement institution.
CCE will not accept any application for grant or renewal of licence if an applicant
has been exempted from the MSO licensing requirements.

3.2 What is an authorized institution?
An authorized institution has the meaning given by section 2(1) of the Banking
Ordinance, Chapter 155.
3.3 What is a licensed corporation?
A licensed corporation has the meaning given by section 1 of Part 1 of Schedule 1
to the Securities and Futures Ordinance, Chapter 571.
3.4 What is an authorized insurer?
An authorized insurer means an insurer authorized under the Insurance Companies
Ordinance, Chapter 41.
3.5 What is an authorized insurance broker?
5An authorized insurance broker has the meaning given by section 2(1) of the
Insurance Companies Ordinance, Chapter 41.
3.6 What is an appointed insurance agent?
An appointed insurance agent has the meaning given by section 2(1) of the
Insurance Companies Ordinance, Chapter 41.
3.7

What is an SVF licensee?
An SVF licensee means a person who is granted a licence under section 8F of the
Payment Systems and Stored Value Facilities Ordinance, Chapter 584.

3.8

What is a system operator?
A system operator has the meaning given by section 2 of the Payment Systems andStored Value Facilities Ordinance, Chapter 584.

3.9

What is a settlement institution?
A settlement institution has the meaning given by section 2 of the Payment
Systems and Stored Value Facilities Ordinance, Chapter 584.

IV. Eligibility for a licence
4.1 Who is eligible to obtain a licence?
Under section 30(3) of the AMLO, the CCE may grant or renew a licence to an
applicant to operate a money service only if the CCE is satisfied that —(a) where the applicant is an individual, the individual and each ultimate owner
is a fit and proper person to operate a money service;(b) where the applicant is a partnership, each partner and each ultimate ownerin the partnership is a fit and proper person to operate a money service; or(c) where the applicant is a corporation, each director and each ultimate ownerof the corporation is a fit and proper person to be associated with thebusiness of operating a money service.
4.2 Who is an ultimate owner?
4.2.1 An ultimate owner in relation to an applicant for a licence or a licensee thatis an individual —(a) means another individual who ultimately owns or controls the money
service business of the first‐mentioned individual; or(b) if the first‐mentioned individual is acting on behalf of another person,means the other person.
4.2.2 An ultimate owner in relation to an applicant for a licence or a licensee thatis a partnership, means an individual who —(a) is entitled to or controls, directly or indirectly, more than a 25% share of
the capital or profits of the partnership;
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(b) is, directly or indirectly, entitled to exercise or control the exercise of
more than 25% of the voting rights in the partnership; or(c) exercises ultimate control over the management of the partnership.
4.2.3 An ultimate owner in relation to an applicant for a licence or a licensee that isa corporation, means an individual who –(a) owns or controls, directly or indirectly, including through a trust or bearer
share holding, more than 25% of the issued share capital of thecorporation;(b) is, directly or indirectly, entitled to exercise or control the exercise of
more than 25% of the voting rights at general meetings of thecorporation; or(c) exercises ultimate control over the management of the corporation.
4.3

What does a fit and proper person mean?
In determining whether a person is a fit and proper person, the CCE must haveregard to the following:(a) whether the person has been convicted of(i) an offence under section 5(5), (6), (7) or (8), 10(1), (3), (5), (6), (7) or(8), 13(1), (3), (5), (6), (7) or (8), 17(9), 20(1), 61(2) or 66(3) of theAMLO;(ii) an offence under section 14 of the United Nations (Anti‐Terrorism
Measures) Ordinance, Chapter 575;(iii) an offence under section 25(1), 25A(5) or (7) of, or any offence
specified in Schedule 1 to, the Drug Trafficking (Recovery ofProceeds) Ordinance, Chapter 405; or(iv) an offence under section 25(1), 25A(5) or (7) of, or any offence
specified in Schedule 1 or 2 to, the Organized and Serious Crimes
Ordinance, Chapter 455;(b) whether the person has been convicted in a place outside Hong Kong‐(i) for an offence in respect an act that would have constituted an
offence specified in the above paragraph (a)(i), (ii), (iii) or (iv) had it
been done in Hong Kong;(ii) for an offence relating to money laundering or terrorist financing(ML/TF); or(iii) for an offence for which it was necessary to find that the person had
acted fraudulently, corruptly or dishonestly;(c) whether the person has persistently failed to comply with any
requirement imposed under this Ordinance or any regulation made by
the CCE under section 51;(d) whether the person, being an individual, is an undischarged bankrupt oris the subject of any bankruptcy proceedings under the Bankruptcy
Ordinance, Chapter 6;(e) whether the person, being a corporation, is in liquidation or is the
subject of a winding up order, or there is a receiver appointed in relation
to it; and7(f)any other matter that the CCE considers relevant.

Licence applicants and licensees may refer to the Guideline on Criteria for
Determining Fitness and Propriety and its Supplementary Guideline issued by the
CCE for further details.
4.4 What do particular premises used for operation of a money service mean and dosuch premises need to be registered?
The particular premises need to be registered are those in which you operate amoney changing service and/or a remittance service. Here are some examples ofparticular premises to operate a money service business:(a) the premises are occupied for operating a money service there;(b) the premises are advertised (including a signboard on display) for
meeting customers there; and(c) the premises are regularly controlled by the licensee, i.e. being a landlord
or a tenant.
However, premises are not treated as particular premises for operating a money
service if you are only a visitor or a customer at premises such as dining
establishments or banks, or at accountant or solicitor firms merely for processing
accounting or legal documents for your company.
4.5 What if there are no particular business premises?
The following examples are not considered as operating a money service atparticular premises:(a) operating a money service without any fixed premises, e.g. door‐to‐door service;(b) meeting customers at a customer office; or(c) conducting transactions with the use of mobile electronic devices.
If there are no particular premises for operating your money service, you must
provide a local management office, a correspondence address, and a local place
for storage of books and records in the application form.
4.6

What particular premises are considered suitable or not suitable to be registered
for the operation of a money service?
In addition to the relevant statutory requirement stipulated in the AMLO, C&ED
will consider the suitability of a particular premises from the perspective of
appropriateness and legitimacy of the licensee in operating a money service, e.g.
without infringing the consumer’s rights under applicable laws.
The following examples are considered suitable to be registered for the operationof a money service:(a) Particular premises should be accessible by C&ED officers for carrying
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out their functions under the MSO regulatory regime; and(b) Where particular premises are situated in a mixed commercial andresidential building (i.e. situated in domestic premises), the applicant
has secured the written consent of every occupant of the premises forany authorized person of C&ED to enter the premises to conduct
inspection.
The following examples are considered NOT suitable to be registered for theoperation of a money service:(a) Particular premises are situated in a wholly residential building;(b) Particular premises are being used by other MSO for operating a money
service or being declared by other applicant for grant/renewal of an
MSO licence;(c) Particular premises that are not accessible without the permission or
assistance of the occupant/owner of other business sharing the same
premises in which the area occupied/owned by another party becomesde facto the entrance to the particular premises; or(d) Business name displayed on the signboard of the particular premises isdifferent from the business name registered in the Business
Registration Certificate which is submitted for the grant or renewal of
an MSO licence or notification of changes in particulars in connection
with the licence application.
4.7

What is a local management office?
An applicant who chooses to operate a money service without particular premisesmust maintain a physical presence in Hong Kong, which will be its local
management office (LMO) and correspondence address of the business/
corporation. The LMO is a physical office which can be reached in person andthrough telephone by C&ED officers to perform the functions under the AMLO, aswell as receive document/correspondence from C&ED such as circulars andnotices to the licensee. Personnel in the LMO must be the sole proprietor, partner,
director, ultimate owner and/or Compliance Officer (CO) of the licensee. As such,
residential address/premises of an MSO or the address/premises of its service
provider (if any), such as company secretarial firm, accounting firm, or solicitor
firm, etc. will not be accepted by the CCE as the LMO of an MSO. This is necessary
to provide a local office and the personnel of the licensee as a point of contact forinterfacing with C&ED for the effective supervision of the licensee’s money service
business. In addition, the landlord of the LMO must grant permission to thelicensee to use the premises for money service business, which should be includedin the tenancy agreement of the LMO or in a letter issued by the landlord to theapplicant.
Failure to submit the information of LMO for licence application/renewal
application is deemed as invalid application which will not be processed by C&ED
9

and/or will result in refusal to grant licence. If a licensee fails to maintain the LMO
or if the LMO fails to serve as a point of contact for interfacing with C&ED, such as
without the presence of the licensee’s personnel, it will result in the suspension
and/or revocation of the licence. C&ED will conduct check to ensure the suitabilityof premises applied to be a LMO.

4.8

What if there is other business being run on the same business premises?
Where other business is being run on the same premises of an applicant, themoney service business of the MSO must be clearly partitioned and distinguishedfrom the other business. Sharing the premises with other MSO to operate money
service business will not be accepted by the CCE.

4.9

What happen if there are premises which are required to be registered but being
omitted in the application?
Section 52(2) of the AMLO provides that a person commits an offence if the person
in connection with an application for the grant or renewal of a licence omits amaterial particular and knows that or is reckless as to whether, the material
particular is omitted. Section 52(3) of the AMLO provides that a person commits
an offence under section 52(2) is liable on conviction to a fine up to HK$50,000
and imprisonment for up to 6 months.

4.10

Is there any other requirement for the particular premises being used to operatea money service?
Where the premises in respect of which an application is made belong to mixed
commercial and residential building, the applicant should secure the writtenconsent of every occupant of the premises for any authorized person to enter thepremises for routine inspection.
In addition, all applicants are required to have a local place for storage of books andrecords (LPS).

4.11

What is a local place for storage of books and records?
An applicant is required to provide the information of a local place for storage ofbooks and records (LPS) in Hong Kong, which is a physical place for keeping the fullset of books and records in respect of its money service transactions. The LPS must
be under the control of the licensee so as to facilitate the C&ED officer’s access tothem to perform the functions under the AMLO. As such, residential
address/premises of an MSO or the address/premises of its service provider (ifany), such as company secretarial firm, accounting firm or solicitor firm, etc. will
not be accepted by the CCE as the LPS of an MSO. In addition, the landlord of the
LPS must grant permission to the MSO to use the premises for money service
business, which should be included in the tenancy agreement of the LPS or in a
letter issued by the landlord to the applicant.
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Failure to submit the information of LPS for licence application/renewal
application is deemed as invalid application which will not be processed by C&ED
and/or will result in refusal to grant licence. If a licensee fails to maintain the LPS,
it will result in the suspension and/or revocation of the licence.
4.12 Who is an authorized person mentioned in paragraph 4.10?
An authorized person means any person authorized by the CCE under section 9(12)of the AMLO.
4.13 Is there a fee for fit and proper person test?
Yes, there is a one-off fee for each applicant (see Fee Schedule at section XIV).
4.14 Will fit and proper person test fee be refunded?
No, the fee paid for the fit and proper person test is non‐refundable.
4.15 Is there any other requirement for the applicant or holder of MSO licence?
(a) An applicant is required to appoint a competent CO and an Money Laundering
Reporting Officer (MLRO) to act respectively as the focal point for the oversightof applicant’s anti-money laundering and counter-terrorist financing (AML/CFT)
systems and compliance measures and the central reference point for reporting
suspicious transactions.
Except that the sole proprietor, partner, director, or ultimate owner of theapplicant is also the CO and MLRO, the CO and MLRO must be the applicant’s
employee under the definition of Employment Ordinance, Cap. 57, Laws of HongKong. Applicants and licensees may refer to the Guideline on AML/CFT issued by
the CCE (AML Guideline) for the requirements of CO and MLRO.
(b) The sole proprietor, any one of the partners and directors of an applicant or alicensee must pass a Competence Assessment (Assessment) conducted by the
C&ED with a view to ensuring that the senior management of an applicant or alicensee has clear understanding of ML/TF risks to which it is exposed, and iscapable of implementing effective AML/CFT systems to adequately manage andmitigate the ML/TF risks identified in order to meet the statutory AML/CFT
obligations. Applicants and licensees may refer to the “Guidance Notes on theCompetence Assessment for MSOs” issued by the CCE for further details.
(c) Any person carrying on business in Hong Kong is required to register the businessunder the Business Registration Ordinance, Cap. 310, Laws of Hong Kong. An
applicant or a licensee must have a valid Business Registration Certificate issued
by the Commissioner of Inland Revenue, otherwise, the application for a licence
will not be processed by C&ED, or if a licence has been granted, the licence will
be subject to suspension and/or revocation by the CCE.

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V. Application procedures
Application for a licence to operate money service
5.1 How do you apply for a licence?
An applicant needs to complete an application form (Form 1), supplementary
information sheet and the relevant annex and submit a (i) Business Plan; and (ii)
AML/CFT policies (hereafter refers to as “AML Policy”). The applicant may
complete the form, supplementary information sheet and annex in either English
or Chinese, or both if the case requires, and has to fill in all the parts in the form,
supplementary information sheet and annex which is applicable to the applicant.
The completed form, supplementary information sheet and annex must be
submitted to the C&ED together with the photocopies of the requisite documents(see the checklist of supporting documents in the application Form) by post or via
C&ED’s website or in person to the Money Service Supervision Bureau, C&ED, Units
402-403, 4/F, Centre Parc, 11 Sheung Yuet Road, Kowloon Bay, Kowloon. The
application form, annex, supplementary information sheet and guidelines for
submission of Business Plan and AML Policy can be obtained from the above
address or downloaded from C&ED’s website athttps://eservices.customs.gov.hk/MSOS/.
For new application to operate a money service at particular premises, at least two
photographs of size 102x152 mm (i.e. 4R‐size) should be attached to theapplication form. One photograph should show the inner part such as counter oroffice of the particular premises, whereas another photograph should show theouter part such as signboard of the particular premises. Where an applicant
also has separate premises which serve as LPS and/or LMO, at least two
photographs should also be attached for each additional LPS and/or LMO. The
photograph requirements for LPS and LMO are the same as those applicable toparticular premises.
Where there is a failure to submit the information or documents as required for
new licence application in a specified period, the application will be deemed to beinvalid application which will not be processed by C&ED.
5.2 What are Business Plan and AML Policy?
Business Plan should be a comprehensive overview of the business, which includes
but not limited to such components as detailed operation mode, organizational
structure, payment system, target customer, staffing, and finance of the company.
For example, if an applicant intends to operate a money service without using bankaccount, the applicant is required to provide relevant details as to how its money
service business is operated in this circumstance.
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AML Policy should set out, among others, the applicant’s own policies, procedures
and controls in the relevant operational areas with a view to mitigating the ML/TF
risks to which the applicant is exposed and fulfilling the relevant statutory andregulatory requirements. For example, an applicant is required to elaborate thecompany’s payment/settlement system for remittance transactions, and thecompany’s mechanism for sanction screening and screening of high-risk customers.
To prepare Business Plan and AML Policy, applicant should follow the Guidelines
for Submission of Business Plan and the Guidelines for Submission of AML Policy,
which are available on C&ED’s website at https://eservices.customs.gov.hk/MSOS/.
5.3

Can applicants submit an application through electronic means?
Yes, an applicant can access the C&ED’s website athttps://eservices.customs.gov.hk/MSOS/ and follow the instructions to submit thelicence application. Applicants may refer to Section XVI of this licensing guide forthe documents required in support of the application.

5.4 How will the application be processed?
On receipt of a licence application by C&ED, an applicant will have an
acknowledgment receipt of the application. A reminder for provision of any
outstanding documents will be issued to the applicant where necessary. If theapplicant fails to provide requisite information on the application form, annex andsupplementary information sheet; or produce the requisite documents including
Business Plan and AML Policy within a specified period, the application will beconsidered invalid and will not be processed by the C&ED.
When all the requisite documents are submitted, the applicant will receive a notice
for an interview together with a demand note for the payment of fees regarding
the application for the grant of a licence and fit and proper person test and an
invitation letter for nominating the eligible person(s), i.e. sole proprietor, partner(s)or director(s) of the applicant to attend the Assessment. The applicant will be
required to bring along the notice, payment record, and the relevant original
documents in attending an interview at the allotted time with the officers of thedepartment.
During the interview, the original documents and the payment record will beverified, and the applicant will be required to sign on the application for an MSO
licence in the presence of the C&ED officers. Besides, the applicant will be required
to clarify and elaborate any information of the submitted documents in relation to
the licence application e.g. its Business Plan and AML Policy provided for theapplication. With a view to ensuring that the applicant can fully understand andfulfil the obligations of an MSO licensee, the applicant will be briefed on thestatutory licensing and compliance requirements applicable to MSOs.

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An appointment letter for the Assessment will be sent to the applicant. The eligible
person(s) nominated for the Assessment must attend the Assessment at the
specified date, time and centre. The result of the Assessment will be one of thefactors that the CCE considers relevant in determining whether the applicant is fit
and proper to operate the business of a money service. Failure to attend thedesignated session of the Assessment may result in refusal of the licenceapplication.
For more details about the Assessment, applicants and licensees may refer to the“Guidance Notes on the Competence Assessment for MSOs”.
5.5 Who is required to attend the interview?
The person attending the interview must be:(a) the sole proprietor, where the applicant belongs to sole proprietorship;(b) the partner(s) or staff member(s) of the applicant authorized in writing by every
partner, where the applicant belongs to partnership; or(c) the directors or staff member(s) of the applicant authorized in writing by theboard of directors, where the applicant belongs to corporation.
5.6 How long will the application be processed?
The processing time may vary and depend on various factors including the time
taken in collecting requisite documents from the applicant, on‐site inspection at thebusiness premises, the time required in obtaining records from other authorities toperform a fit and proper person test, and the time taken for completing theAssessment.

Application for the fit and proper person test
5.7 Who is required to apply for fit and proper person test?
Where the applicant is an individual, the individual and each ultimate owner, or isa partnership, each partner in a partnership and each ultimate owner, or is a
corporation, each director and each ultimate owner of the corporation to be
associated with the business of operating a money service is required to apply forthe fit and proper person test.
5.8 How do you apply for the fit and proper person test?
The applicant needs to complete a Fit and Proper Person Declaration Form (Form
3A with Appendices I & II for individual and Form 3B for corporation) and submit
the Form together with supporting document to C&ED. Regarding the Appendix I
which is attached to Form 3A, the declarant has to sign in the presence of a witness
who is an authorized officer of the C&ED, a practicing professional (e.g. solicitor,
accountant, auditor), a notary public or a Justice of the Peace. The witness shallcheck the personal particulars as stated in the Appendix I against the originalidentity document(s) of the declarant and certify that the personal particulars
14stated therein are true and correct. The witness shall also certify that thisAppendix I is signed by the declarant in his or her presence.
5.9 How will the fit and proper person test application be processed?
On receipt of a fit and proper person declaration form, the CCE will undertake anumber of checks to confirm the accuracy of the information provided. This will
include vetting details against information held by this department, othergovernment and law enforcement agencies.
5.10 Under what circumstances may the CCE refuse to grant a licence to an applicant tooperate a money service?
For example, the CCE may refuse to grant a licence on the following situations andinform the applicant by notice in writing of his decision:(a) an applicant or one or more applicants within the applicant’s business failto satisfy the fit and proper person test;(b) the premises to be used are not suitable for the operation of a money
service;(c) an applicant cannot obtain the written consent from every occupant of
the particular premises which are situated in a mixed commercial andresidential building (i.e. situated in domestic premises) to be used for theoperation of a money service for any authorized person to enter forroutine inspection;(d) an applicant fails to provide the information of a LPS;(e) an applicant who chooses to operate a money service without particularpremises fails to provide the information of a LMO;(f) an applicant fails to provide Business Plan and AML Policy in accordancewith the relevant guidelines promulgated by C&ED;(g) an applicant fails to appoint a competent CO or MLRO;(h) an applicant submits an incomplete or invalid application;(i) none of the senior management of an applicant, i.e. the sole proprietor,
partner or director, attends the Assessment designated by C&ED;(j) none of the senior management of an applicant, i.e. the sole proprietor,
partner or director, passes the Assessment designated by C&ED; or(k) an applicant has been exempted from the MSO licensing regime by virtueof section 25 of the AMLO.
5.11 Can an applicant appeal against the decision of the CCE for the refusal of granting
a licence to operate money service?
Yes, the applicant may appeal against CCE’s decision to Anti‐Money Laundering andCounter‐Terrorist Financing Review Tribunal within the period ending 21 days after
the notice informing the applicant of the refusal of grant of an MSO licence.

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VI. Renewal of licence
6.1 When is it required to renew the MSO licence?
A licensee is required to renew the MSO licence not later than 45 days before thelicence is due to expire.
6.2 Will a reminder be sent to a licensee before the expiry of the licence?
Yes, the department will send a reminder enclosing with the invitation letter for
nominating the eligible person(s), i.e. sole-proprietor, partner(s) or director(s) of
the licensee, to attend the Assessment to each licensee 90 days before the expiryof the licence. However, it is the licensee’s legal responsibility to apply for renewal
45 days before expiry of the licence.
It is to note that attending the Assessment is also a licensing requirement for the
CCE to determine whether the licensee or applicant is fit and proper to operate thebusiness of a money service. The licensee is required to nominate the eligible
person(s) for the Assessment within seven days upon receipt of the invitation letter.
The eligible person(s) nominated for the Assessment will attend the Assessment
within 30 days upon receipt of the invitation letter.
An appointment letter for the Assessment will be sent to the licensee. The eligible
person(s) nominated for the Assessment must attend the Assessment at the
specified date, time and centre. The result of the Assessment will be one of thefactors that the CCE considers relevant in determining whether the licensee is still
fit and proper to operate the business of a money service. Failure to attend thedesignated session of the Assessment will result in rejection of the corresponding
application.
For more details about the Assessment, applicants and licensees may refer to the“Guidance Notes on the Competence Assessment for MSOs”.
6.3 How does a licensee renew his or her licence?
A licensee must submit his or her application for renewal (Form 2), supplementary
information sheet and the relevant annex together with the fit and proper person
declaration forms (number of such forms is subject to the number of persons
required for fit and proper person test), its Business Plan, AML Policy andphotocopies of requisite documents by post or in person or via C&ED’s website athttps://eservices.customs.gov.hk/MSOS/.
For renewal application to operate a money service at particular premises, at least
two photographs of size 102x152 mm (i.e. 4R-size) should be attached to theapplication form. One photograph should show the inner part such as counter oroffice of the particular premises, whereas another photograph should show the16

outer part such as signboard of the particular premises. Where an applicant also has
separate premises which serve as LPS and/or LMO, at least two photographs should
also be attached for each additional LPS and/or LMO. The photograph requirementsfor LPS and LMO are the same as those applicable to particular premises.
Upon receipt of the application for renewal and fit and proper person test, CCE will
acknowledge receipt of the renewal applications and a reminder for provision of
any outstanding documents will be issued to the applicant where necessary. If theapplicant fails to produce the documents within a specified period, the application
will be considered invalid and will not be processed by C&ED.
When all the requisite documents are found to be in order, CCE will issue a notice
for an interview together with a demand note to the licensee for payment ofrespective fees which are non‐refundable.
6.4 What if a licensee cannot submit the renewal application before the 45-day statutory
requirement or cannot provide all the requisite documents to C&ED?
The application will deem to be an invalid application which will not be further
processed by C&ED if —a) a licensee cannot submit the duly completed Form 2, supplementary
information sheet and the relevant annex to C&ED 45 days before the expiry of
the licence;b) when a reminder for provision of any outstanding documents issued to thelicensee by C&ED but the licensee fails to produce all the supporting documents
within specified period; orc) a licensee fails to nominate any eligible person(s) for the Assessment withinseven day upon receipt of the invitation letter.
If a licensee submits an invalid renewal application which cannot be processed by
C&ED, the existing licence will lapse automatically upon the expiry of the validity
period. The licensee must cease money service operation. An unlicensed operationof a money service is an offence.

VII. Revocation and suspension of MSO licence
7.1 Under what circumstances the CCE may revoke or suspend an MSO licence?
The following is a non-exhaustive list of examples that the CCE may revoke orsuspend a licence:(a) the licensee, the individual, any partner, any director and any ultimate owner in
relation to the licensee is no longer a fit and proper person to operate a money
service/to be associated with the business of operating a money service after the
grant of a licence;(b) any occupant of the premises revokes his or her written consent previously given
17

for any authorized officer to enter the premises for routine inspection;(c) any new occupant of the premises refuses to give such a written consent;(d) the licensee fails to maintain a LPS or the LPS falls foul of the requirements set
out in this licensing guide;(e) where a licensee operates a money service without particular premises, thelicensee fails to maintain a LMO or the LMO falls foul of the requirements set out
in this licensing guide;(f) where a licensee fails to submit a periodic return on time;(g) where a licensee’s holding of the licence fails to fulfill the purpose (i.e. provisionof money service) for which the licence was issued. An example is a money
service has never been provided by the licensee;(h) where a licensee fails to comply with any requirements provided under the AMLO
including requirements stipulated in Part 5 of the AMLO; and(i) where a licensee fails to appoint or maintain a competent CO or MLRO.
For more details about the fit and proper person criteria, licence applicants andlicensees may refer to the Guideline on Criteria for Determining Fitness andPropriety and its Supplementary Guideline issued by the CCE.
7.2 Will a licensee have an opportunity to be heard for the revocation or suspension oflicence?
Yes, the CCE will inform the licensee of the revocation or suspension of licence by
notice in writing and give the licensee an opportunity to be heard before revoking
or suspending the licence.
7.3 Can a licensee appeal against the decision of the CCE for the revocation orsuspension of the licence?
Yes, the licensee may appeal against CCE’s decision to Anti‐Money Laundering andCounter‐Terrorist Financing Review Tribunal within the period ending 21 days after thenotice informing the licensee of the decision has been sent.

VIII. Changes that require CCE’s prior approval
8.1 Does a licensee need to seek prior approval from the CCE when there is a person
proposing to become licensee’s director?
Yes, a licensee needs to make an application in Form 4 and the proposing director
needs to submit the fit and proper person declaration form.
8.2 Does a licensee need to seek prior approval from the CCE when there is a person
proposing to become the licensee’s ultimate owner?
Yes, a licensee needs to make an application in Form 4 and the proposing ultimate
owner needs to submit the fit and proper person declaration form.

18

8.3 Does a licensee need to seek prior approval from the CCE when there is a person
proposing to become the licensee’s partners?
Yes, a licensee needs to make an application in Form 4 and the proposing partner
needs to submit the fit and proper person declaration form.
8.4 Does a licensee need to seek prior approval from the CCE if he or she wishes to add
premises to operate a money service at any particular premises?
Yes, if a licensee wishes to add premises to operate a money service, the licensee
needs to make an application in Form 5 to add the premises.
If a licensee operating a money service without particular premises wishes to makea change to operation of a money service at particular premises, apart from theneed to submit an application in Form 5 to C&ED, the licensee needs to submit a
Business Plan and updated AML Policy to notify the CCE of the change in operation
mode of its money service.
8.5 What is the consequence if a licensee fails to seek prior approval from the CCE for
the addition of director(s)?
Section 35(1) of the AMLO provides that in relation to a licensee that is a
corporation, a person must not become a director of the corporation unless the
CCE has, on application of the licensee, given his or her approval in writing. Section
35(7) of the AMLO provides that a person who, without reasonable excuse,contravenes section 35(1) commits an offence and is liable on conviction to fine of
HK$50,000 and to imprisonment for 6 months. The CCE may also take disciplinary
actions under section 43(1)(c) of the AMLO for contravention of section 35(1) of theAMLO.
8.6 What is the consequence if a licensee fails to seek prior approval from the CCE for
the addition of ultimate owner(s)?
Section 36(1) of the AMLO provides that a person must not become an ultimate
owner of the licensee unless the CCE has, on application of the licensee, given his
or her approval in writing. Section 36(7) of the AMLO provides that a person, who,
without reasonable excuse, contravenes section 36(1) commits an offence and isliable on conviction to a fine of HK$50,000 and to imprisonment for 6 months. The
CCE may also take disciplinary actions under section 43(1)(c) of the AMLO forcontravention of section 36(1) of the AMLO.
8.7 What is the consequence if a licensee fails to seek prior approval from the CCE for
the addition of partner(s)?
Section 37(1) of the AMLO provides that in relation to a licensee that is apartnership, a person must not become a partner in the partnership unless the CCE
has, on application of the licensee, given his or her approval in writing. Section
37(7) of the AMLO provides that a person who, without reasonable excuse,19contravenes section 37(1) commits an offence and is liable on conviction to a fineof HK$50,000 and to imprisonment for 6 months. The CCE may also takedisciplinary actions under section 43(1)(c) of the AMLO for contravention of section
37(1) of the AMLO.
8.8 What is the consequence if a licensee fails to seek prior approval from the CCE for
the adding of new business premises?
Section 38(1) of the AMLO provides that a licensee who is licensed to operate amoney service at premises specified in the licence must not operate a money
service at any premises other than those specified premises unless the CCE has, on
an application of the licensee, added the new premises to the licence. Section 38(8)of the AMLO provides that a person who, without reasonable excuse, contravenes
section 38(1) commits an offence and is liable on conviction to a fine of HK$50,000
and to imprisonment for 6 months. The CCE may also take disciplinary actions
under section 43(1)(c) of the AMLO for contravention of section 38(1) of the AMLO.
8.9 What is the consequence if a licensee fails to seek prior approval from the CCE for
operating a money service at any particular premises?
Section 39(1) of the AMLO provides that a licensee who is not required to operatea money service at particular premises must not operate a money service at any
particular premises unless the CCE has, on an application of the licensee, added thenew premises to the licence. Section 39(8) of the AMLO provides that a person
who, without reasonable excuse, contravenes section 39(1) commits an offence
and is liable on conviction to a fine of HK$50,000 and to imprisonment for 6 months.
The CCE may also take disciplinary actions under section 43(1)(c) of the AMLO forcontravention of section 39(1) of the AMLO.
8.10 Is there any other consequence if a licensee fails to comply with sections 35(1),36(1), 37(1), 38(1), 39(1) or 39A(1) of the AMLO?
Yes. Apart from criminal sanction, a licensee who contravenes sections 35(1), 36(1),37(1), 38(1), 39(1) or 39A(1) of the AMLO may also be subject to disciplinary and/or
administrative sanctions such as suspension and revocation of licence.

IX. Notification of changes in particulars
9.1 Which kind of changes in particulars that a licensee needs to notify the CCE?
A licensee needs to notify the CCE the following changes by completing theNotification of Change in Particulars (Form 6):
(a)
(b)
(c)
(d)
(e)

Change in business / corporation name
Change in principal (correspondence) address
Change in contact information
Change in business premises information
Change in telephone or fax no. of business premises
20

(f)
(g)

Change in information of other business being run in the business premises
Change in occupants of the particular premises which are situated in amixed commercial and residential building (i.e. situated in domestic
premises)(h) Change in particulars of sole proprietor / partners / directors / ultimate
owners(i)
Change in partners / directors / ultimate owners(j)Change in “Fit and Proper” status of sole proprietor / partner / director /ultimate owner(k) Change in bank account used for operating money service business(l)Change in local management office(m) Change in local place for storage of books and records(n) Change in CO or MLRO
Licensee should be aware that some changes in particulars may result in a reviewof the validity of an MSO licence, for example, changes in the fit and proper status
of sole proprietor/ partner/ director/ ultimate owner, etc
9.2 When shall a licensee notify the CCE of the change?
For the changes in particulars mentioned in paragraph 9.1, the licensee must notify
the CCE in writing (Form 6) of the changes within one month beginning on the dateon which such change takes place.
9.3 What is the consequence if a licensee fails to notify the CCE in writing of thechange?
Section 40(1) of the AMLO provides that if there is any change in the particularsthat are provided to the CCE in connection with a licensee’s application under
section 30 or 31, the licensee must notify the CCE in writing of the change within
one month beginning on the date on which the change takes place. Section 40(4)provides that a licensee who, without reasonable excuse, contravenes section 40(1)commits an offence and is liable on conviction to a fine of HK$50,000. Apart from
criminal sanction, a licensee who contravenes section 40(1) may also be subject todisciplinary and/or administrative sanctions such as suspension and revocation oflicence.
9.4

Does a licensee need to notify the CCE if he or she intends to change the status ofbusiness or the nature of money service business?
As far as the change of the legal entity is concerned, the licensee needs to submit a
fresh licence application for the CCE to consider whether the fit and proper statusof the legal entity concerned meet the eligibility criteria for grant of an MSO licence.
If a licensee wishes to change the nature of money service business, e.g. moneychanging service to remittance service, or vice versa, the licensee is required to filea written submission with the CCE, including the updated Business Plan and AML
21

Policy as well as any relevant supporting documents deemed necessary, for areview of its fit and proper status for the provision of the proposed money service.

X. Cessation of business10.1 Does a licensee need to notify the CCE if he or she intends to cease to operate amoney service or to cease to operate a money service at any of the premises
specified in the licence?
Yes, the licensee needs to notify the CCE of the cessation of business or the cessationof operating a money service at any specified premises.
If a licensee operating a money service at particular premises wishes to make achange to operation of a money service without particular premises, the licensee
needs to submit an application to notify the CCE of the cessation of its existing
business and submit a new application to apply for a licence to operate a money
service without particular premises.
10.2 When shall a licensee notify the CCE of his or her intention of cessation of business?
The licensee must notify the CCE before the date of cessation (including expiry oflicence) by completing the Notification of Cessation of Business (Form 7) of that
intention and the date of cessation. In addition, the licensee needs to return thevalid or expired licence to the CCE for cancellation within 7 days beginning on thedate of cessation or expiry as the case may be.
10.3 If a licensee cancel his or her licence within its validity period, will the licensee geta refund of the whole or some of the fees paid?
No.
10.4 What is the consequence if a licensee fails to notify the CCE in writing of the change?
Section 41(1) of the AMLO provides that if a licensee intends to cease to operate amoney service or (if applicable) to cease to operate a money service at any of thepremises specified in the licence with effect from a particular date, the licensee
must (a)(b)

before the date of cessation, notify the CCE in writing of that intention andthat date of cessation; andreturn the licence to the CCE for cancellation or amendment within 7 days
beginning on the date of cessation.

Section 41(4) provides that a licensee who, without reasonable excuse, contravenes
section 41(1) commits an offence and is liable on conviction to a fine of HK$50,000.
Such contravention will adversely affect the fitness and propriety of the person
concerned to operate a money service or to be associated with the business ofoperating a money service. The CCE may also take disciplinary and/or22

administrative sanctions under the AMLO for the contravention.

XI. Licensee’s Obligations
11.1 What are the obligations of a licensee?
A licensee is obliged to comply with all the applicable provisions of the AMLO andguidelines issued by the CCE. A non-exhaustive list of obligations of a licensee isprovided as follows:
(a)
(b)
(c)
(d)

(e)

(f)
(g)

(h)

(i)
(j)

A licensee must report on suspicious transactions;
A licensee must develop and maintain an effective AML Policy to mitigate
ML/TF risks;
The individual, any partner, any director and ultimate owner in relation toa licensee must remain fit and proper at all times;
A licensee must secure the written consent of the occupants in premisesthat are situated in mixed commercial and residential building (i.e.
situated in domestic premises) for an authorized person to conductroutine inspection;
A licensee who is licensed to operate a money service at premises
specified in the licence must display the original of the licence in aconspicuous place at the specified premises;
A licensee must maintain a LPS;
Where a licensee operates a money service without particular premises,
the licensee must maintain a LMO and ensure the LMO can serve as apoint of contact for interfacing with C&ED;
A licensee must ensure at least one of the members of the senior
management, i.e. sole-proprietor, partner or director, having attended
the Assessment;
A licensee must submit periodic return to the CCE in the form specified by
the CCE in a timely manner; andWhere bank account(s) is used for operation of the money service
business, the bank account must be in the name of the licensee’s
company, the sole proprietor, partner, director or ultimate owner of thelicensee.

11.2 What return shall a licensee lodge to the CCE?
A licensee shall lodge a periodic return to the CCE within 2 weeks beginning fromeach quarter unless specified by the CCE by notice in writing. The periodic return
must be submitted in the form and manner specified by the CCE. Any failure to
submit a periodic return on time may result in the suspension and/or revocation of
the licence.
11.3 Why does the C&ED require a licensee to further submit “supplementary
information form(s)”?
23

A licensee is required to notify the C&ED of the appointment of a CO and a MLRO
to act respectively as the focal point for the oversight of compliance measures andthe central reference point for reporting suspicious transactions as required by the
AML Guideline.
11.4 Why does the C&ED require the senior management of a licensee to attend theAssessment?
To comply with relevant statutory and regulatory AML/CFT requirement on senior
management oversight prescribed under the AMLO and guidelines issued by the
CCE, the senior management of a licensee should have a clear understanding of
ML/TF risks to which it is exposed and be capable of implementing effective
AML/CFT Systems that can adequately manage the ML/TF risks identified.

XII. Register of Licensees
12.1 What information will be provided in the Register of Licensees?
The following information will be provided in the Register of Licensees:(a) the name of every licensee; and(b) in respect of each licensee—(i) if the licensee is licensed to operate a money service at specified
premises, the address of every premises at which the licensee may
operate a money service; or(ii) in any other case, the correspondence address of the licensee.
12.2

Where can you inspect the register?
The register is available for inspection by members of the public at the office of
the C&ED at Units 402-403, 4/F, Centre Parc, 11 Sheung Yuet Road, Kowloon Bay,
Kowloon and is accessible through the C&ED’s website athttps://eservices.customs.gov.hk/MSOS/.

XIII. Disciplinary actions
13.1 What disciplinary actions will be taken by the CCE?
If a financial institution contravenes a specified provision as defined by section 5(11)of the AMLO, under section 21 (2) of the AMLO, the CCE may(a) publicly reprimand the financial institution;(b) order the financial institution to take, by a date specified by the relevant
authority, any action specified by the relevant authority for the purpose ofremedying the contravention; and(c) order the financial institution to pay a pecuniary penalty not exceeding theamount that is the greater of—(i) HK$10,000,000; or(ii) 3 times the amount of the profit gained, or costs avoided, by the financial
24

institution as a result of the contravention.
If an MSO licensee commits an act referred to in section 43(1) of the AMLO, under
section 43(2) of the AMLO, the CCE may‐(a) publicly reprimand the licensee;(b) order the licensee to take, by a date specified by the CCE, any action
specified by the CCE for the purpose of remedying the contravention; and(c) order the licensee to pay a pecuniary penalty not exceeding HK$1,000,000.

XIV. Fee schedule
Item

Fee
HK$

Application for the grant of a licenceplus for each additional business premises
plus for each person who is subject to the fit and proper person test

3,310
2,220
860

Application for the renewal of a licenceplus for each additional business premises
plus for each person who is subject to the fit and proper person test

790
355
860

Application for an approval to become a licensee’s director/ ultimate
owner/ partner

860
For each person in
relation to whom
the application is
made
2,220
For each new
business premises

Application to add new business premises

Application to operate a money service at particular premises

2,220
For each businesspremises

XV. Enquiries
15.1 Where can you ask for further information?
You may find more information about licensing related matters at the C&ED’s
website at https://eservices.customs.gov.hk/MSOS/. You can also make enquiry
on licensing related matters to the department by the following ways:(a) By phone at 3742 7742 (during office hours from Monday to
Friday except Public Holidays);(b) By post to the Money Service Supervision Bureau, Customs and Excise
Department at Units 402-403, 4/F, Centre Parc, 11 Sheung Yuet
Road,Kowloon Bay, Kowloon;(c) By fax to 3742 7758; or(d) By email to msoenquiry@customs.gov.hk
25

XVI. Checklist of supporting documents for application for an MSO Licence16.1 To facilitate the application for grant and renewal of an MSO licence, applicant is required tosubmit the following documents (stamped with the applicant’s company chop) together withthe completed application form, i.e. Form 1 or 2, annex and supplementary information sheet
to the Money Service Supervision Bureau of C&ED.
16.2 The list below is not exhaustive. With a view to determining the fitness and propriety of theapplicant and the suitability of the premises in accordance with the licensing requirements, theC&ED may require the applicant to produce other supporting documents in processing theapplication.
16.3 Checklist for submission of supporting documents for application for an MSO Licence
1. Supporting Documents of the Applicant’s ParticularsSole A copy of valid Business Registration Certificate
proprietorship  A copy of Extract of information on the Business Register
Partnership A copy of valid Business Registration Certificate
 A copy of Extract of information on the Business Register
Local company  A copy of valid Business Registration Certificate
 A copy of Certificate of Incorporation
 A copy of the latest Annual Return (Form NAR1) and all documents filed with theCompanies Registry after filing of the latest Annual Return A copy of Incorporation Form - Form NNC1 (for company limited by shares) or
Form NNC1G (for company not limited by shares) for new established company
 Information of group structure and percentage of shareholdings of each groupmember A copy of Memorandum and Articles of Association
Non-Hong Kong  A copy of valid Business Registration Certificatecompany A copy of Certificate of Registration of non-Hong Kong Company
 A copy of the latest Annual Return (Form NN3) and all documents filed with theCompanies Registry after filing of the latest Annual Return A copy of Particulars of a non-Hong Kong Company Registered in Hong Kong
(Form NN1) for new established company
 Information of group structure and percentage of shareholdings of each groupmember A copy of Memorandum and Articles of Association
2. Supporting Documents of Particulars of each premises
Premises used  A copy of stamped tenancy agreement or record of ownership of the premises
for the Floor plan of the premises
operation of a  Two 4R-sized photographs showing the exterior and interior of the premises
Money Service  A copy of letter issued by the landlord to the applicant permitting the premises
to be used for money service business Copies of consent letters from every occupant of the premises (for mixed
commercial and residential premises only)
Local place for  A copy of stamped tenancy agreement or record of ownership of the premises
storage of Floor plan of the premises
books and
 Two 4R-sized photographs showing the exterior and interior of the premises
records
 A copy of letter issued by the landlord to the applicant permitting the premises
to be used for local place for storage of books and records
Local
 A copy of stamped tenancy agreement or record of ownership of the premises
management
 Floor plan of the premises
office Two 4R-sized photographs showing the exterior and interior of the premises
 A copy of valid Business Registration Certificate
 A copy of letter issued by the landlord to the applicant permitting the premises
to be used for local management office26

16.3 Checklist for submission of supporting documents for application for an MSO Licence(Continued)
3. Supporting Documents of Particulars of the sole proprietor and each individual partner /director / ultimate owner of the Applicant
Hong Kong Completed Fit and Proper Person Declaration Form 3A together with Appendicesresident
I & II A copy of Hong Kong Identity Card
Non-Hong Kong  Completed Fit and Proper Person Declaration Form 3A together with Appendicesresident
I & II A copy of the Bio-data page of the Travel Document
4. Supporting Documents of Particulars of each corporate partner / director of the Applicant
Local company  Completed Fit and Proper Person Declaration Form 3B
 A copy of valid Business Registration Certificate
 A copy of Certificate of Incorporation
 A copy of Memorandum and Articles of Association
Non-Hong Kong  Completed Fit and Proper Person Declaration Form 3B
company A copy of valid Business Registration Certificate
 A copy of Certificate of Registration of non-Hong Kong Company
 A copy of Memorandum and Articles of Association
Corporation not  Completed Fit and Proper Person Declaration Form 3B
registered in A copy of the Certificate of Incorporation or its equivalent certified in accordance
Hong Kong
with reg. 3 of the Companies (Forms) Regulations, Chapter 32B
5. Authorization letter
Partner A copy of the authorization letter signed by all partners
Corporation
 A copy of the authorization letter signed by the Board of Directors
6. Other requisite documents as specified in Licensing Guide
 Business Plan endorsed by sole proprietor / each individual partner / director /ultimate owner
 Anti-money laundering and counter-terrorist financing policy endorsed by sole
proprietor / each individual partner / director / ultimate owner A copy of agreement / contract with each local and/or foreign third party
involved in the process of money service A copy of Hong Kong Identity Card of CO and MLRO
 A copy of valid employment contracts for CO and MLRO
 A copy of residential address proof of CO and MLRO, e.g. utility bills, bankstatement, issued within the last three months from the application date
 Proof of bank account ownership issued by bank concerned, e.g. a copy ofstatement of the bank account held by the applicant for money service business An acknowledgement from bank that the bank account held by the applicant isused for operating money service business27