Hong Kong Type 9 (Asset Management) License
Desfran provides a turnkey solution for financial licensing. To facilitate your process of applying for a Hong Kong Asset Management license, we will:
- Promote your application to the Hong Kong regulators
- Assist with answering questions regarding the application process and requirements
- Draft and review application documents and questionnaires
- Follow up with the application and ensure the submission of additional information required by the related departments in Hong Kong
Under the Securities and Futures Ordinance (SFO), Type 9 “asset management”, means providing a service of managing a portfolio of securities or futures contracts for clients on discretionary basis. This category of regulated activity will cover discretionary investment managers, whether managing a hedge fund, account or related fund.
Licensed for Type 9 regulated activity and carry out certain other regulated activities
You are licensed for Type 9 regulated activity (asset management) and you wish to carry out Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities) and/or Type 5 (advising on futures contracts) regulated activity. You do not need to be licensed for these regulated activities provided that they are carried out solely for the purposes of your asset management business (for Types 4 and 5, such asset management business must involve the management of a portfolio under a collective investment scheme). This exemption normally applies to fund managers who place trade orders to dealers or provide investment advice/research reports in the course of managing their own clients’ portfolios of securities and/or futures contracts.
Minimum paid up capital – Not applicable
Minimum liquid capital — $100,000
Minimum paid up capital – $5,000,000
Minimum liquid capital — $3,000,000
Local physical office is required.
Desfran shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant to the prevailing regulations. Desfran shall also advise on the possible questions that might be posed by the regulator.
|Requirements & Other Information|
Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:
Please note for a company listed on a major stock exchange or subject to regulatory supervision in a country with equivalent AML regulations to Hong Kong, evidence of such listing or regulation will suffice in place of the above information. Where the directors to be appointed are employees of such a listed or regulated company, a certified passport copy and confirmation of employment (to include position) will suffice.
For local regulatory authority:
(Each beneficial owner, shareholder, director, Responsible Officer and secretary must provide)
The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong’s securities and futures markets.
The SFC derive investigative, remedial and disciplinary powers from the Securities and Futures Ordinance (SFO) and subsidiary legislation. Operationally independent of the Government of the Hong Kong Special Administrative Region, they are funded mainly by transaction levies and licensing fees.
Desfran assists with the complete licensing application. Contact us to find out more about the Hong Kong company registration and forex license application. Our team of experts will get back to within the next business day.