Latest Insights
What it takes to be a TCSP in Hong Kong?
February 23, 2021
Hong Kong’s TCSP Licensing Regime:
- Trust or company service providers in Hong Kong are required to obtain a licence in compliance with the requirements of the Anti‐Money Laundering and Counter‐Terrorist Financing Ordinance (AMLO).
- Ensuring that TCSPs meet the requirements of customer due diligence and record-keeping requirements
- Licence is valid for 3 years, and to be renewed 60 days before expiry.
- “Fit and proper” test
- required to account for factors such as criminal and bankruptcy history of the applicant and various partners.
If you are a new applicant:
- Application fee of HK$3,440
- Additional fee of HK$975 for each person subject to the fit and proper test
If you are an existing applicant looking to renew:
- Application fee of HK$2,910
- Additional fee of HK$975 for each person subject to the fit and proper test
If you are an existing applicant looking to cease operations:
- A licensee who fails to notify the Registrar of cessation of trust of company service business commits an offence and is liable on conviction to a fine of HK$50,000.
Share This Article
Articles You May Like
SINGAPORE, 26 FEBRUARY 2024 – FP Global, a strategic recruitment consultancy firm, has announced the strategic acquisition of ML Sense , a London-based data strategy consultancy firm, in a move to align its services with the evolving demands of the AI-driven workforce.
As Chinese New Year approaches, many leaders in Hong Kong and Singapore’s hedge fund and asset management space are looking ahead to a fast-paced, transformative 2025.
Leading a financial institution in Hong Kong or Singapore? You’ve likely felt the mounting pressure. Between digital banking, new regulatory frameworks, and ESG requirements, it’s easy to feel overwhelmed. If you’re asking, "Where do I find the specialised talent I need for tomorrow—while managing today's demands?" you're not alone.
As the financial landscape continues to evolve in 2025, one thing is clear: hiring the right talent isn’t just about filling roles—it’s about aligning people with your organisation’s vision and long-term strategy.
Beyond the headline challenges of economic growth and geopolitics, several overlooked issues could significantly impact Hong Kong and Singapore’s financial sectors this year.
SINGAPORE, 26 FEBRUARY 2024 – FP Global, a strategic recruitment consultancy firm, has announced the strategic acquisition of ML Sense , a London-based data strategy consultancy firm, in a move to align its services with the evolving demands of the AI-driven workforce.
As Chinese New Year approaches, many leaders in Hong Kong and Singapore’s hedge fund and asset management space are looking ahead to a fast-paced, transformative 2025.
Leading a financial institution in Hong Kong or Singapore? You’ve likely felt the mounting pressure. Between digital banking, new regulatory frameworks, and ESG requirements, it’s easy to feel overwhelmed. If you’re asking, "Where do I find the specialised talent I need for tomorrow—while managing today's demands?" you're not alone.
As the financial landscape continues to evolve in 2025, one thing is clear: hiring the right talent isn’t just about filling roles—it’s about aligning people with your organisation’s vision and long-term strategy.
Beyond the headline challenges of economic growth and geopolitics, several overlooked issues could significantly impact Hong Kong and Singapore’s financial sectors this year.
Talent is King (and Queen) in Alternatives: Insights from the 2024 EY Global Alternative Fund Survey
I recently attended the 18th EY Singapore Alternative Fund Symposium on 15 January 2025. The symposium featured various panels, fireside chats, and presentations from industry leaders, covering a wide range of topics relevant to the alternative investment sector in 2025.
Hong Kong remains a thriving hub for global financial markets, and as we move into 2025, its dynamism is undeniable. As a recruitment consultant, I’ve seen firsthand how the right talent strategies can shape success in this fast-paced industry.
The year 2024 has seen the Asian real estate market undergoing major changes, influenced by changing economic conditions, a rising focus on sustainability, and the market's shifting dynamics.
Whether it’s a boutique firm or a large MNC, I’ve seen firsthand how essential culture fit is for long-term success.
Innovations in technology, evolving patient expectations, and global challenges are driving rapid transformations in the healthcare and pharmaceutical sectors, leading private equity firms to focus on investing in businesses that will shape the future of medicine.
