香港1-9号金融牌照分类及
Application conditions
汇总香港金融牌照分类及
Application process
，How to officially obtain No. 1 from the Hong Kong Securities and Futures Commission、2Number、4Number、6No. 9 financial license,How to become a Hong Kong financial institution with international asset management business qualifications and securities investment consulting service qualifications，Today, the editor uses the Internet to sort out and summarize mainland companies' applications for financial licenses in Hong Kong.，If there are any deficiencies or errors，Welcome to leave comments and corrections。
Hong Kong as a major offshore and non-offshore center for Asia’s financial markets,Regardless of the maturity of the regulatory framework、The perfection of the public trading market and the richness of financial products, etc.,Both are at the forefront of the international financial market and are the preferred platform for international investors to invest in Asia.。The Hong Kong market implements a financial license management system,Financial institutions can conduct stock trading at the same time、financial derivatives、Trading in foreign exchange and gold。
9The license is a Type 9 regulated business qualification license issued by the Securities and Futures Ordinance of Hong Kong.,i.e. asset management license。Hold this license,It means obtaining a "pass" in the international capital market,Not only can you directly participate in overseas investments,,It can also manage and utilize funds from overseas investors。4No. 1 license is a license approved by the Hong Kong Securities and Futures Commission to provide securities investment consulting services.。
As domestic securities futures、asset Management、international trust、private equity firm,How to apply to the Hong Kong Securities and Futures Commission to successfully obtain these financial licenses,Comprehensively participate in international capital market investment,Expand the scope of investment targets,Enrich investors’ product choices;On the other hand, you can seize investment opportunities in overseas markets.,Improve the company's asset management capabilities and market competitiveness,Entering the ranks of international asset management companies。
After receiving the financial license from the Securities and Futures Commission of Hong Kong,Companies will be eligible to offer shares to domestic and foreign institutions、fund、Various financial products and services such as bonds。Leverage the Hong Kong capital market platform,Not only can we develop more products such as overseas real estate or stock funds,,We can also launch value-added services such as investment immigration and investment consulting.,Provide more diversified services to high net worth clients。Hong Kong financial license classification from 1 to 9,The difficulty of applying for various types of licenses is also different.。
Such as Hong Kong Asset Management License No. 9
Application conditions
,Hong Kong Securities and Futures Commission regulations,Requires 2 Hong Kong licensed responsible persons,The licensed responsible person needs to have 3-5 years of continuous public performance records in the capital market and must pass a series of rigorous examinations and qualification reviews.。at the same time,Enterprises also
Require
Have a physical office address in Hong Kong,Have an experienced management team to assist in running the company。
generally,Obtaining an independent Hong Kong asset management license No. 9 is an endorsement of a company’s strength。
牌照受规管活动现实应用第一类证券交易为客户提供股票及股票期权的买卖／经纪服务为客户买卖债券为客户买入／沽出互惠基金及单位信托基金配售及包销证券第二类期货合约交易为客户提供指数或商品期货的买卖／经纪服务为客户买入／沽出期货合约第三类杠杆式外汇交易以孖展形式为客户进行外汇交易买卖第四类就证券提供意见向客户提供有关沽出／买入证券的投资意见发出有关证券的研究报告／分析第五类就期货合约提供意见向客户提供有关沽出／买入期货合约的投资意见发出有关期货合约的研究报告／分析第六类就机构融资提供意见为上市申请人担任首次公开招股的保荐人就《公司收购、"Code on Mergers and Share Repurchases" Providing advice to listed companies on compliance matters under the Listing Rules Category 7 Providing automated trading services and operating electronic trading platforms that match customer orders Category 8 Providing securities margin financing Providing financing to customers who buy stocks and using the customers' stocks as collateral Category 9 Providing asset management Managing securities or futures contract investment portfolios for customers on a discretionary basis Managing funds on a discretionary basis Category 10 Providing credit rating services to companies、债券及主权国的信用可靠性拟备报告1号牌：Securities trading 1. Providing trading/brokerage services for stocks and stock options 2. Buying and selling bonds for clients 3. Buying/selling mutual funds and unit trust funds for clients Placing and underwriting securities No. 2：Futures contract trading 1. Provide customers with the buying and selling of index or commodity futures 2. Provide customers with index or commodity futures brokerage services 3. Buy or sell futures contracts for customers 3.：Leveraged foreign exchange trading uses margin trading to conduct foreign exchange transactions for customers No. 4：Providing advice on securities 1. Providing investment advice to clients on selling or buying securities 2. Issue research reports or analyzes on securities No. 5：Provide advice on futures contracts 1. Provide investment advice to clients on selling or buying futures contracts 2. Issue research reports or analyzes on futures contracts No. 6：Advising on institutional financing 1 Acting as sponsor for an initial public offering for a listing applicant 2 Advising on the Corporate Acquisition、Advising on mergers and share buy-backs code 3 Advising listed companies on compliance matters under the Listing Rules No. 7：No. 8, an electronic trading platform that provides automated trading services to match customer orders.：Provide securities margin financing to customers who buy stocks and use the customer's stocks as collateral 9Plate：提供资产管理以全权委托形式为客户管理证券或期货合约投资组合以全权委托形式管理基金九种牌照的资本
Require
:If an organization wants to apply to become a licensed corporation，Need to meet a series of
Require
：1、A company incorporated in Hong Kong or a non-Hong Kong company registered with the Hong Kong Companies Registry 2、The company has a suitable business structure、Good internal control system and qualified personnel，Ability to manage risks that may be faced in the business3、For each type of regulated activity applied for，At least two responsible officers must be appointed to directly supervise the relevant activities。
4、For each type of regulated activity applied for，At least one responsible person can supervise the relevant business at all times5、Among the responsible personnel planned to be appointed by the organization，At least one of them must be from the China Securities Regulatory Commission
Require
Executive Director under 6、All executive directors of an institution must seek approval from the Securities and Futures Commission，To become a responsible officer of a corporate body under the above provisions of Responsible Officer，Their competency must also pass the test prescribed by the China Securities Regulatory Commission.。
一家公司在申请领取金融牌照或申请成为注册机构时，香港证监会会依照《证券及期货条例》第129条对持牌法团及注册机构作如下的判断，具体内容如下:1.主体资格必须是在香港注册成立的公司或在香港公司注册处注册的海外公司2.胜任能力持牌法团及注册机构在进行相关业务时，要管理好在经营时可能面对的风险，具体而言即拥有合适的业务架构、良好的内部监控系统及合资格的业务人员；（具体参见：证监会另行公布的《胜任能力的指引》、《持牌人或注册人操守准则》、《持牌人或注册人的管理、监督及内部监控指引》）。
3.Responsible person(1)每类受规管活动必须委任至少两名负责人员直接监督有关活动；(2)每类受规管活动必须至少有一名负责人可以时刻监督有关业务。
如果角色安排不会造成冲突，同一人可以受委任监督多于一类受规管活动；(3)负责人中至少有一名是符合《证券及期货条例》所定义的执行董事；(4)所有的执行董事必须向证监会寻求核准；(5)呈交牌照申请时，向证监会一并呈交所有拟成为负责人员的核准申请；4.大股东等须具备适当人选的资格大股东、senior staff、就受规管活动而雇用的任何其他人，就该类活动与有联系的任何其他人，must be suitably qualified。
有关详情请參阅《证券及期货条例》第129条。经过查阅相关资料，When applying for a license，并没有限制信托计划及资管计划等SPV为大股东。但根据《证券及期货条例》第129条，要考察大股东的财政能力和偿付能力，SPV为大股东可能很难通过审核。
5.主体的财政能力持牌法团及注册机构在进行相关业务时，须维持足够的股本及速动资金(速动资金指：能迅速转换成为现金或已属于现金形式的资产)。For example，在申请提供资产管理（第9类牌照）时，持牌法团及注册机构最低应缴纳5百万港元股本及维持3百万港元的速动资金。
据香港保荐人介绍，Based on whether client assets can be held，Can be divided into big and small brands。Big names (unlimited) can hold client assets，Just like domestic public funds,，Client’s assets can be transferred directly to the company’s account，The entire asset can be invested and managed as a unified account。And these investors may not be professional investors (PI)。
But just because of this，In order to protect ordinary investors，The Securities and Futures Commission of Hong Kong has become stricter on such licenses
Require
，Not only does it have extremely high levels of paid-up capital and liquid capital,
Require
，There are also high requirements for licensed responsible persons (ROs).
Require
。So the market price of big brands is higher，Can do more business，Therefore, large listed institutions will tend to apply for or purchase large licenses.，Facilitate business development。
And No. 9 license (small license) cannot hold customer assets，Therefore, separate accounts must be set up for each customer，and may not hold these assets，Can only be managed on behalf of，And investors also have relative restrictions。Because separate account management is a bit troublesome，Therefore, this type of license may be more suitable for private equity funds，Not suitable for broader fund projects。6.购买相关的保险持牌法团及注册机构在申请相关牌照时，应购买与业务相对应金额的保险。
There are two ways to apply for a Type 9 license by establishing a subsidiary and acquiring a mainland private equity firm. For private equity institutions that want to apply for a Type 9 license，There are generally two ways to apply，One is to set up a subsidiary in Hong Kong，The second is to acquire a company that has successfully applied for the No. 9 license.。
格上理财从已获得香港9号牌的内地私募管理人处了解到，目前内地已拥有9号牌的私募机构很少通过收购的方式获取9号牌照进入国际市场，一般规模较大的内地私募机构一般会选择在香港设立子公司来获得香港9号牌，In this way, on the one hand, the names of Hong Kong subsidiaries and mainland private equity institutions can be consistent or similar.，Conducive to the promotion and inheritance of the brand，on the other hand，由于收购一家已经成功申请到9号牌照的香港公司也需要进行一系列的申请并准备所需材料，The time cost is basically the same as that of setting up a subsidiary.。
therefore，很少有内地私募机构选择用直接收购的方式来获取香港9号牌照。
四方面
Require
成内地私募申请9号牌的必要条件已获得香港9号牌的内地私募管理人透露，申请香港9号牌的流程较为简单，需要准备的材料主要有业务规划书和公司基本信息，但由于内地私募管理人可能存在对香港法律业务不熟悉的情况，therefore，Most private equity firms tend to use intermediaries to handle matters
Application process
，The required time is at least 6 months，Most private equity firms generally require 9-12 months。
According to the knowledge of Geshang Financial Management，如果内地私募机构要通过设立子公司来获取9号牌则需要满足很多硬性条件，如申请牌照需要2位香港持牌责任人，而持牌责任人需要有3至5年连续公开的资本市场业绩记录，同时企业也
Require
在香港有实际的办公地址等，Specifically：①公司方面拟在香港申领牌照的私募机构必须符合以下
Require
：(1) Overseas corporations that have been incorporated in Hong Kong or registered with the Companies Registry；(2) The financial status and solvency are good and all company personnel have certain qualifications and experience；(3) The company must demonstrate that it has an appropriate business structure、Good internal control system and qualified personnel；(4) A licensed asset management company must have at least two responsible officers；(5) At least one responsible person must be a member of the board of directors；(6) If you need to hold client assets，Minimum paid-up share capital HKD 5 million，Liquid capital is no less than HKD 3 million，In addition, the company needs to comply with strict risk control mechanisms。
also，证监会还
Require
At least one responsible officer must be based in Hong Kong，in order to directly supervise the relevant business，在有需要时，The SFC must have immediate access to at least one responsible officer of the asset management company。Except for the person in charge，Any person who is a licensed asset management company or conducts asset management activities on its behalf must be licensed as a representative。
②人员方面个人包括有关负责人员和有关持牌代表如向证监会申请牌照，Must demonstrate competence and integrity standards to the SFC，Be a fit and proper person to carry out regulated activities。③香港证监会的评估重点香港证监会将从4个方面评估申请人（包括公司或人员），同时持牌机构及隶属持牌机构的个人均必须遵守香港税务方面的法律规定。
（1）财务状况及偿债能力；（2）学历或其他资历及经验，and considerations in this regard must have regard to the nature of the functions proposed to be performed by the applicant；（3）是否有能力称职地、conduct relevant regulated activities honestly and fairly；（4）信誉、character、Reliability and financial soundness。
④展业后的持续责任领有牌照后，私募机构必须维持适当人选的资格，and comply with all applicable provisions of the Securities and Futures Ordinance and its subsidiary legislation，and codes and guidelines issued by the Securities and Futures Commission，须定期提交经审核的帐目及财务申报表，当公司某些事件或资料需要更改时，应在特定时限内通知香港证监会。From the current point of view，It is not very easy for mainland private equity institutions to obtain Hong Kong’s No. 9 license。
根据香港证监会规定，一家公司想要成功申请到9号牌必须绑定两位符合资格的负责人员，And the China Securities Regulatory Commission stipulates that when the person in charge leaves the company，The company's No. 9 license was subsequently invalidated.，因此如果准备申请9号牌照，一方面公司的负责人短期内需面临较大的资格认证压力，另一方面市场上也很难找到合适的持牌人士作为公司的负责人来申请牌照；另外据格上理财了解，证监会对于牌照的发放也十分严格，发牌时间上也具有不可控性，据一些私募反映，现在9号牌照的审批难度越来越大，may become more stringent，不排除今后监管层发牌收紧的可能性。
About Hong Kong Xintong
Hong Kong Xintong focuses onHong Kong Securities and Futures Commission license、Hong Kong Insurance Broker License、Hong Kong MSO Licenseandmoneylenders licenseApply for service，Assist customers to applyUS MSB license、NFA、RIA、Canadian MSB license、Mainstream overseas financial licenses such as Australia and Mexico，Support enterprises to achieve compliance expansion of cross-border financial business。Also availableCayman Islands Offshore Company Registration、Offshore fund establishment and global compliance operations and other services，Help enterprises expand their presence in international markets。Provide one-stop compliance solutions for enterprises。To learn more，Please contactHong Kong Information Communications Consultant。
