Eternity Law International News Forex broker license in Hong Kong

Forex broker license in Hong Kong

Published:
October 7, 2020

Hong Kong is a part of China, and it has separate legislation, which provides more progressive and favorable frameworks for economic activities. The main benefits of doing business in Hong Kong are financial capital, clear tax conditions, and well developed legislation.

That is the reason why Hong Kong became one of the most powerful business centers in the world (according to the World Economic Forum) and it continues to evolve.

THE AUTHORITY

The authority responsible for issuing licenses is called “The Securities and Futures Commission”. The Commission issues all types of licenses in the financial market.

There is one act that provides a legal framework in part of license obtaining – «The Securities and Futures Ordinance». According to this act, some type of activities requiring the license are:

  1. Issue and sale of securities;
  2. Trading in the forex exchange market;
  3. Financial and security advising;
  4. Automated trade services;
  5. Securities trading on a margin basis;
  6. Asset Management.

THE PROCEDURE OF OBTAINING THE LICENSE

  1. Filing documents;
  2. Paying fees. Each type of license requires separate payment;
  3. Hiring employees – at least 2 person for each type of financial activity;
  4. Transferring documents and paid bills to the commission.

LICENSE EXPENSES

A license for 3 types of activities costs 28,000 USD.

This amount only includes the cost of applying for the license. Other expenses including employees hiring or company establishment should be paid separately.

TERM

The application is under consideration for 7-10 months.

Eternity Law International will gladly help you with forex broker license in Hong Kong , and our specialists will answer all your questions. Take advantage of our many years of practical experience – save your time and your money.

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