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.

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.

Businesses for sale

Payment service provider (PSP license) in Dominica for sale

North America, Dominica Payment & E-Money Institutions
New investment opportunity – payment service provider in Dominica for sale. This is a Fintech Intermediary with authorizations to carry out Fintech Specific intermediation globally with no limitations. PSP license in Dominica for sale: what`s included The license was issued more than two years; Has a clean Balance Sheet and is in perfect shape; No...

Seychelles Payment service provider for sale

Africa, Seychelles Payment & E-Money Institutions
Payment service license in Seychelles for sale is an excellent option, if you want to enter the lucrative offshore financial market. Check out the details of the PSP license in the Seychelles. PSP license in Seychelles for sale: what’s included Type of the authorization: payment service provider (PSP); the license is issued by the Central...

PSP license in Turkey with a US branch for sale

Europe, Turkey Payment & E-Money Institutions
This is a new investment opportunity – PSP license in Turkey for sale. Please check out the main details regarding this proposal below. PSP license for sale: key considerations Founded in 2016, licensed by BRSA in 2018; In 2019 opened a branch in USA; Focused on domestic and international remittances; Trade finance, collection services, account...

You could be interested

10 Best FSCA Regulated Forex Brokers in South Africa

When trading currencies, it is essential to consider various things, among them the availability of safe and reliable-brokers. For such cooperation, you should go for regulated-brokers as they are recognized by the regulatory-authorities of the state. Such brokers have proven that they can meet the standards of business relationships that are introduced in this country....

Offshore bank license in Gambia

Currently in Gambia there are special regulations and laws governing transactions with financial instruments and currencies. Central Bank and the country’s government have clearly expressed their position regarding the regulation of this area and the functioning of companies in it. Financial activity in Gambia scores 8 out of 10 on the security scale. This is...

Company registration in Argentina

Argentina still has not been able to fully overcome the economic crisis that has been going on over the past decade. The state must still make a lot of efforts to revive the economy. Therefore, the country’s government is trying its best to attract foreign investors. In recent years, experts say, Argentina has been moving...

UK Authorised Crypto Companies

In recent years, the trade of decentralised finances has experienced unprecedented growth, attracting financiers, entrepreneurs, and financial institutions alike. With this surge in interest, legislative schemes have become more crucial than ever to ensure the legitimacy and security of crypto-related functioning. This region stands out as one of the most alluring directions for raising such...

Investment fund in Switzerland

Investment funds abroad may be particularly attractive to those who already have experience investing internationally. By pooling capital, you can achieve more profitable investments and take your business to a new level. The financial sector plays a central role in the Swiss economy. Thanks to its strong economy, political neutrality and banking secrecy, the country...

What Activities Require FCA Authorization in 2025?

The Financial Conduct Authority (FCA) in the United Kingdom is a key body of monetary agreements, overseeing a broad spectrum of ventures to advocate openness, honesty, and fair trade practices. Since its primary focus revolves around insurance, monetary, or investment institutions, monitoring by the FCA also extends to commerce intermediaries, payment processors operated by fintech,...

Related posts

Ready-made company in Hong Kong

Shelf-firm is an organization that was registered for further sale. The procedure of purchasing a ready-made company is quite easy, usually you just need to do the ownership change and prepare relevant documents for this. Shelf-firms are registered already with a company name, but it can be changed after sale.Our company assists clients to change...

Company registration in Hong Kong

Having an impeccable rank of a financial backer’s heaven, Hong Kong offering unmatched oportunities for establishments, looking to prosper in Asia and then some. As a worldwide monetary center point represented by a supportive of business organization, it investigates every possibility in its obligation to cultivating achievement. Nowadays, Company registration in Hong Kong became crucial...

VASP license in Hong Kong

On June 24, 2022, jurisdiction governmental authorities released Anti-Money-Laundering and Terrorist-Financing (AML/FT) Order; it established licensing and regulatory norms demanding to possess VASP license in Hong Kong. Let us consider it in more detail and find out how it affects firms operating in this industry. The draft law amended the AML and CFT Order, main...

Asset Management Companies in Hong Kong

Hong Kong stands in one line together with such cities as London, Singapore and well-known as one of the well-known financial center of the world. Its location is a middle between West and East, which gives to Hong Kong obvious advantage as an international market. However, despite that Hong Kong is one of the international...

Money Service Operator License in Hong Kong

If a company provides services in financial field, it must obtain a MSO – Money Service Operator license, which is issued by the Department of Customs Duties and Excise (CCE). This license required in accordance with the provisions of the Anti-Money Laundering and Terrorist Financing Ordinance, Chapter 615 of the Hong Kong Code of Laws...

Corporate tax in Hong Kong

Jurisdiction of Hong Kong refers to corporate tax as income tax, labor tax and tax levied on real estate. In general, this region of China is attractive for foreign entrepreneurs for the reason that it has a transparent and simple system of doing business. However, even the most democratic jurisdiction nevertheless imposes an obligation on...
Fill the blank: