Hong Kong has one of the most developed financial services industries in the Asia Pacific region, making it one of the main business and financial hubs in Asia. Banks and financial companies like insurance firms or asset management companies are subject to the local laws for licensing and control.
Investors who start a financial company in Hong Kong have access to a favorable investment climate, a well-regulated business sector, and full foreign ownership. Our lawyers in Hong Kong can help answer your questions if you want to open this type of company.
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The financial sector in Hong Kong
Financial companies in Hong Kong enjoy a growing market and good positioning in Asia. Banks, insurance companies, asset management companies are other types of companies that provide various financial services are subject to regulation.
A special license is issued by the Hong Kong Futures and Securities Commission for companies in Hong Kong that provide asset management services, advisory services for securities and futures contracts dealings and for other types of activities.
The Securities and Futures Ordinance is one of the main legal resources for companies activating in the Hong Kong financial sector. One of our attorneys in Hong Kong can help you with detailed information and legal counseling on the laws that govern this business sector.
Starting a business in Hong Kong
All new companies need to be registered in Hong Kong. The registration of a financial company is performed with the Companies Registry. Locally incorporated limited companies need to have a unique name and a bank account in Hong Kong. Once the Articles of Association and the Memorandum are drafted, the founders submitted them along with other documents with the Registry.
Financial services companies in Hong Kong obtain their business license once there are registered, however, they function based on the additional licenses for their type of activity. One of the experts at our Hong Kong law firm can help you make the required submissions for licensing.
Our team can help you apply for a Hong Kong startup visa.
You can contact our law firm in Hong Kong for more detailed information on opening a company and the regulations in the financial sector.