Apply for a Money Lender Licence for a financial licence

Apply for a Money Lender Licence for a financial licence

According to the Money Lenders Ordinance (Cap. 163), any person carrying on a money lender’s business in Hong Kong must hold a money lender’s license. The following is the general process and required documents for applying for a money lender license:

1. Preparation of application documents:

– Applicant’s application and declaration form.

– Documents proving that the applicant has the ability to engage in money lending business.

– Documents proving the applicant’s financial situation.

– Leases and floor plans intended to be used as places to operate money lending businesses.

– Written permission from the landlord to operate a money lending business on the premises.

– An “Occupation Permit” issued by the Buildings Department.

– Search the Land Register of the premises at the Land Registry.

– Annual return (if the applicant is a company).

– Application fee HKG 8,800

2. Submission of application: Submit the completed application form and relevant documents to the Companies Registry and the Hong Kong Police Force. The applicant will receive an acknowledgement and the Police will conduct an investigation and review of the submitted documents within about 60 days.

3. Licensing Court Hearing: If the application is accepted, the applicant will be notified of his request to attend the Licensing Court hearing. The applicant needs to bring all the required documents and obtain a money lender license issued after submitting all the documents to the Licensing Tribunal.

The Licensing Tribunal will consider the following factors in considering the application:

– Whether the applicant is suitable to engage in money lending business (e.g. relevant knowledge, academic qualifications and experience, etc.).

– Whether the premises to which the application relates are suitable for money lending business (e.g. land use and relevant permits).

– Whether the licensing is contrary to the public interest.

With effect from 16 March 2021, upon the granting or renewal of a money lender licence, the Registrar of Money Lenders will impose one additional licence condition and two amended licence conditions.

Please note that the above information is for informational purposes only and the specific application process and requirements are subject to change in accordance with regulatory changes. It is recommended that you consult with the relevant authorities or legal professionals in Hong Kong before applying for a money lender license to ensure accuracy and compliance.

Companies Registry Governing Authority

https://www.cr.gov.hk/tc/services/money-lenders/governing.htm