Eternity Law International News PSP license in Hong Kong

PSP license in Hong Kong

Published:
May 21, 2023

When looking for a place to register their company, founders most often pay attention to the major world`s financial center. Usually, there are a lot of large companies and, therefore, potential clients in such regions. Many of them are very competitive, but if you can get a foothold in such a region, you will make a lot of profit. One of these regions is Hong Kong. That is why many companies seek to obtain a PSP license in Hong Kong.

This Chinese province offers great opportunities for any business. The world’s leading companies operate in this province and all of them need to conduct their operations. To get PSP license in Hong Kong, you need to try hard. This does not mean that it is impossible to get permission in the region, but you have to make efforts. But once it has been issued, you will see how quickly your company’s turnover begins to grow.

Blessings of getting a license

If you have decided to buy a PSP license in Hong Kong, you need to remember that this region has many advantages for the development of your interchange. Companies involved in servicing e-payment`s dealings can get the following advantages from working in the region:

  • Hong Kong’s convenient geographic positions. This province is located in eastern`s Chinees and if you try to register a payment service provider in Hong Kong you can get a permit to the largest Asian`s market`s. For example, you can work with Japanese, South Korean, or Singaporean corporations. Such broad access to markets is not available in all regions. And given the population density of these countries and the number of corporations in dissimilar industries, you can get a good springboard for corporation blossoming;
  • Availability of extended enrollment. In this country is profitable to buy a company with PSP license in Hong Kong. There is an excellent banking network where financial institutions cooperate with various payment-systems and negotiators. Due to this, the speed of transaction processing is much higher than in similar corps in other countries;
  • Highly extended economizing. High indicators of paying capacity of the Hong Kong population show that it is advantageous to open a business in this region. Working here, you will get a lot of solvent clients who can potentially use your services. It is possible to work both with individuals and legal entities.

By examining these advantages, founders of corporations can be convinced that they have made the right decision to obtain a license in this Chinese province.

Businesses for sale in Hong Kong

HONG KONG COMPANY WITH MONEY SERVICE OPERATOR LICENSE

Offshore, Hong Kong
HONG KONG COMPANY WITH MONEY SERVICE OPERATOR LICENSE Hong Kong company with Money Service Operator License issued by HKCED. Year of registration 2017. License allows money remittance and money exchange and online account opening: SWIFT BIC code is active and published in SWIFT directory; Corresponding bank accounts opened in Europe (not European Union though) in…

Hong Kong trading company with bank account for sale

Asia, China
Aged well-reputable Hong Kong company with bank account in OCBC bank. Great vehicle to promptly launch your business connected to Asian market. Activity codes: • General Trading • Trading of electronics • Trading of equipment ✅ Fast-track purchase ✅ Trusted nominee service ✅ Full local support ✅ No personal visit needed Asking price: 19,000 EUR…

Company in Hong Kong with 2 bank accounts for sale

Offshore, Hong Kong
We offer a company in Hong Kong with bank accounts Company details in Hong Kong: registered in 2020; the company conducted activities; the company has 2 bank accounts; price includes a change of ownership. Asking price for ready-made company in HK: on a request. Details: nick.b@eternitylaw.com, Telegram @beihuln Please feel free to join our telegram channel  in…

Prerequisites for the docs

If you have decided to buy payment service provider license in Hong Kong, you need to apply and contain the essential package of docs. It is submitted to the Office of Money Circulation. This state body is the local regulator. Its area of responsibility is economic institutions and all money-service-operators. Only those who meet the requirements for payment service providers put forward by this authority will be able to operate in the local market.

To acquire permission the following requirements must be:

  • an existing company (the registration procedure must be completed for new companies and the company must not be in bankruptcy);
  • the company must have at least $20,000 in bank accounts;
  • have their own or rented office in Hong Kong;
  • assemble competent personnel for administration positions by departments, including accountants and compliance.

Representatives of the regulator will conduct a review of the applicants’ financial strength, examine their operating credentials and see how they handle potential risks. If corporation representatives convince the controller that they can handle all the challenges and that their performance meets the requirements, the regulator will issue the organization a license. It is also possible to return documents for revision or refuse to issue a license. But in the latter case, the regulator provides a written justification for its decision.

Who can help with processing

Company founders can instruct their employees to collect documents for processing a payment agent license in Hong Kong on their own. But not all of them regularly communicate with government regulators and understand the specifics of coordination with them.

For these purposes, the right solution is to contact our company. Each of our lawyers has repeatedly submitted such applications. We know all of the regulator’s necessities, including the latest changes, and are ready to help you get the necessary approval as quickly as possible. All you need to do is contact us and at the first consultation we will review your current documents and tell you if you can qualify for a license.

In addition, we will help you prepare the correct package of docs, and you will only have to wait for the regulator to tell you that you can start working.

You could be interested

Regulating crypto finance: taking stock and looking ahead

The perpetually evolving realm of crypto money demands an in-depth and expansive examination of the intricate authority system that is continually adapting to keep pace with the dynamic and transformative nature of the industry. In this comprehensive exploration, we embark on a journey through the multifaceted facets of the crypto ecosystem, traversing from the overarching...

Company registration in Macau

In recent years, Macau has become more and more relevant offshore. The reason for this is a loyal tax environment, a high level of development of the financial sector and a fairly good reputation of this jurisdiction as a whole. The creation of an offshore company in Macau – Limited liability company by quotas –...

Directive № 5 in Malta

In 2018, 2 important events took place for the world of virtual currency and digital wallets. One of them is Directive № 5 in Malta. The Government of the island of Malta adopted 3 legal acts regulating the sandbox of the blockchain. And in June, the EU Herald published the Fifth Money Laundering Directive, which...

Business structuring: specifics of commercial organization

Considering largest enterprises in the CIS and the European space, it can be revealed that the majority of them are owned by foreign investors. Simultaneously, bulk of such organizations are located in Luxembourg, Holland, Switzerland, and also in Cyprus. This means that for certain reasons, at some stages of fulfilling commercial activities, the owners of...

ISAE 3402: Outsourcing Activities

Today audit is a mandatory part of the activity of every independent contractor. The services of an enterprise that properly controls outsourcing within the firm are in demand in the market, and large corporations have their own divisions that periodically monitor these processes and help improve them. At the same time, adherence to established standards...

Forex Brokers Activities Regulation in USA

As known, Forex brokers activities regulation in USA are classified as one of the most stringent, but at the same time the most reliable in the world. Its mechanism is built on the principle of maximum protection of customers from fraudulent activities, although some features of the regulation are still a topic for active discussion....
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Washington

1629 K St. Suite 300 N.W.

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7