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Hong Kong

Hong Kong, a special administrative region of China, has long established itself as one of the world's leading financial centers and an attractive place to do business.

The Virtual Asset Services Provider (VASP) license in Hong Kong grants the right to provide storage and exchange services for virtual assets, including cryptocurrencies. However, it's important to note that it does not cover operations with fiat currencies, limited-purpose digital tokens, securities, and futures.

Hong Kong

Key requirements for obtaining the license:

  • Company registration: The license is issued to companies registered in Hong Kong or having a place of business there.
  • Qualified personnel: It is necessary to have a minimum of two specialists responsible for compliance with AML/CFT requirements and license management.
  • Fit and Proper test: License applicants, responsible persons, and ultimate owners must pass a suitability check.
  • Capital: A minimum paid-up share capital of 5,000,000 Hong Kong dollars (approximately 600,000 EUR) is required.
  • Physical presence: Having a local office in Hong Kong is mandatory.
Hong Kong

Additional services and requirements

Companies may also need to rent an office in Hong Kong, develop internal policies (e.g., AML/KYC), open a bank account, and maintain accounting records. To review the application, it is necessary to provide the company's organizational structure, documents related to the company and its management, resumes of candidates, and a business plan.

 

The process of obtaining a VASP license will take 9 to 12 months. This timeframe may vary depending on the complexity of the application, company structure, and business model.

 

For more detailed information about the cryptocurrency license in Hong Kong, please contact IT-OFFSHORE specialists.

Ready-made companies with bank accounts

Or you've already got own business and there is a need to expand the scope of activities. To avoid the loss of time and effort to register juridical individuals, you can arrange a ready-made company. You will have a fully prepared company with a package of documents, which is mandatory for conducting a full-fledged activity.

Companies with licenses

Buying a ready-made company is the best option for operational business development in a new industry, as well as the need to expand the scope of the existing organization increase its scale. Acquisition of a company with mandatory permits and license means the ability to enter a new market in a short period of time.

Banks

Acquisition of a ready-made bank allows you to save time, as well as quickly carry out all reissuing operations. On average, the procedure takes about one day. As a result, the client becomes the head of the bank, which already has a client base, as well as status in the market and ready staff. Our company conducts all operations in accordance with existing legislation.

Funds

Investment fund is a modern investment tool designed for all types of assets. The purpose — managing of assets as well as solving number of tasks in a way that works best for individuals. There is no open subscription, meaning that a private investment fund has a closed structure. This is the most optimal solution for distributing capital through broad instruments.

SEMI for sale

When conducting business related to foreign exchange transactions, electronic money and cryptocurrencies, it may be necessary to open a financial company with a SEMI license. This type of license covers the production of debit cards and cryptocurrencies, the acceptance and sending of payments, the execution of transfers from third parties, and the opening of merchant accounts.

Crypto Offshore

When working with cryptocurrency it is important to choose the right country, where it is most profitable to open a company. Each country has a different attitude towards this type of currency. A country that has a loyal or positive attitude towards cryptocurrency can be called a crypto-offshore.

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