financial manager analysis

Hong Kong Type 9 Fund Management License

Blog, Licence

Although China’s security laws were imposed on Hong Kong of late, the city state remain as Asia’s key financial center. Hong Kong based on its maturity or regulatory framework set by the local authorities, is the ideal open market that offers great diversity for financial services providers. Let’s look into details on how the Hong Kong Type 9 Fund Management License function, and how do we go about getting one.

The Type 9 (Fund Management) license is issued and qualified by the HK SFC (Securities and Futures Commission). Upon approval, the licensed company is able to provide portfolio management services on market instruments such as domestic or overseas stocks, funds and securities. Dealing with OTC FX/CFDs and Cryptocurrencies are big concerns for the SFC, therefore, if your business deals with these products, you may want to consider alternative jurisdictions.

To apply for a Type 9 License, what does the applicant need to produce? First step, register a local Hong Kong company. Second, have at least two professionally qualified persons to become the company’s key management persons, one as a responsible officer and the other a licensed representative holding appointment in office. Finally, provide and fulfil all other requirements set out by the SFC, where there will be a financial status assessment, business structure assessment, internal policies assessment, and assessment on risk control measures. The license will be issued after all assessment are cleared.

The approved Type 9 company will pay tax in compliance to Hong Kong jurisdiction laws. Hong Kong has a good global reputation to date. The fund company can also choose to only provide their services to foreign (out of Hong Kong) investors, so there are few structures to choose from.

To find out more on the procedures to apply for a Type 9 Fund Management License in Hong Kong, feel free to reach us here.

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