Hong Kong for operators.

Company setup

Entity types. Private company limited by shares (the usual vehicle), company limited by guarantee, partnerships and sole proprietorships, and registered non-Hong Kong companies (branches).

Time to incorporate. For a private company limited by shares filed through the CR e-Services Portal, the Certificate of Incorporation and Business Registration Certificate are normally issued within one hour. Hard-copy filing normally takes four working days. Companies limited by guarantee take about three weeks.

Local director. No. A private company needs at least one director who is a natural person, and that director may be a non-resident. The company secretary must be an individual ordinarily resident in Hong Kong or a body corporate with its registered office or place of business in Hong Kong. A sole director cannot also be the sole company secretary.

The electronic incorporation fee for a company with share capital is HK$1,545 (HK$1,720 for hard copy), excluding the business registration fee and levy. The one-year business registration fee is HK$2,200 plus a levy. Secondary sources put the 2026/27 total at HK$2,350, which we have not checked against the IRD's own table. Companies must keep a significant controllers register under the Companies (Amendment) Ordinance 2018, and must file an annual return every year.

Sources: cr.gov.hk · cr.gov.hk · ird.gov.hk · 3ecpa.com.hk

Banking & EMI access

Corporate account opening for companies owned by non-residents is possible but often slow and uncertain. Banks look at the residency and nationality of directors and UBOs, the source of funds, and evidence of real trading such as contracts and invoices, and they treat offshore holding vehicles with no Hong Kong nexus more conservatively. The HKMA has repeatedly told banks not to de-risk whole customer categories (circular of September 2016, corporate onboarding good practices of April 2023).

It also promotes 'Simple Bank Accounts' (SBAs) for SMEs, start-ups and overseas companies setting up in Hong Kong. SBAs offer basic deposit and remittance services with lighter documentation, and each bank designs its own. The HKMA's May 2026 circular on forged documents and dormant accounts covered individual investment accounts only, not corporate accounts.

The eight virtual banks generally onboard SME customers through HKID-based digital flows. ZA Bank, for example, states online eligibility only for companies whose shareholders and directors all hold an HKID and are Hong Kong tax residents only, so foreign owners usually need a traditional bank. Many operators also use HKMA-licensed SVF wallets and MSO-licensed payment platforms, such as Airwallex (MSO licence 16-09-01929; group SVF licensee UniCard Solution, SVF0009).

These are not banks and do not offer deposit protection.

Sources: hkmb.hktdc.com · china-briefing.com · info.gov.hk · bank.za.group · help.airwallex.com · business.hsbc.com.hk

EMI regime & enforcement

There is no separate EMI licence in Hong Kong. Multi-purpose e-wallets and prepaid instruments need an HKMA stored value facility licence under the Payment Systems and Stored Value Facilities Ordinance (Cap. 584), and licensed banks are deemed licensees. The first licences were granted on 25 August 2016 (Alipay HK, HKT Payment, Money Data, TNG Asia; Octopus effective 13 November 2016) and eight more on 4 November 2016, including PayPal HK and UniCard Solution.

We could not retrieve the HKMA's live register to confirm today's total number of licensees, so that figure is unverified. By the end of Q1 2026 there were about 88.78 million SVF accounts in use, with about HK$21.7 billion in total float and SVF deposits (HKMA, 18 June 2026). Remittance and money-changing businesses need a Money Service Operator licence from Customs and Excise.

Operating without one carries a maximum penalty of a HK$1 million fine and two years' imprisonment. One recent case: on 26 June 2026 a man was convicted of two counts of unlicensed money service covering about HK$1.65 million in remittances and received a suspended two-month sentence. HKMA SVF enforcement includes 33 Financial Services (HK$875,000, January 2022), TNG (Asia) (HK$1,575,000, 18 December 2023) and WeChat Pay Hong Kong (HK$875,000, 30 August 2024), all for AML/CFT or control failures.

Sources: hkma.gov.hk · info.gov.hk · info.gov.hk · info.gov.hk · info.gov.hk · info.gov.hk · hkma.gov.hk · charltonsquantum.com · fintelegram.com

Licensed firms we track

Licence status and enforcement come from the regulator. Onboarding and sector details are only what each firm states publicly; "unknown" means it doesn't say. Check the register link before you rely on any firm.

Enforcement timeline

1. 30 Aug 2024WeChat Pay Hong Kong Limited: HK$875,000 penalty for CDD/EDD failures between August 2016 and October 2021 source
2. 18 Dec 2023TNG (Asia) Limited: Reprimand and HK$1,575,000 penalty for AML/CFT, risk management and internal control failures (PSSVFO s.8Q) source

Crypto (MiCA)

Centralised virtual asset exchanges serving Hong Kong must hold an SFC VATP licence. The SFC list, last updated 29 May 2026, shows 13 licensed platforms, from OSL (licensed 15 December 2020) to NewBX/Bixin (18 May 2026). The SFC also publishes a list of suspicious VATPs.

The Stablecoins Ordinance (Cap. 656) came into force on 1 August 2025. The HKMA had received 36 applications by the end of September 2025 and granted the first two issuer licences on 10 April 2026, to Anchorpoint Financial (a Standard Chartered HK, HKT and Animoca Brands joint venture) and HSBC. Licensing regimes for OTC virtual asset dealing and custody were settled in consultation conclusions published on 24 December 2025.

As of late September 2026 the amending bill had not yet been introduced to LegCo, with introduction expected in Q4 2026, and no commencement date had been set (per secondary reporting). JPEX, flagged by the SFC in September 2023 as an unlicensed platform, is the main enforcement case: by November 2025 police had charged 16 people, with more than 2,700 victims reporting losses over HK$1.6 billion.

Sources: sfc.hk · info.gov.hk · news.tvb.com · hkma.gov.hk · charltonslaw.com · gibsondunn.com · wiki.private.law · news.tvb.com

Tax

Profits tax is territorial: only profits arising in or derived from Hong Kong are taxed. Under the two-tiered regime, for years of assessment starting on or after 1 April 2018, corporations pay 8.25% on the first HK$2 million of assessable profits and 16.5% on the rest. Unincorporated businesses pay 7.5% and 15%.

Only one nominated entity in a group of connected entities gets the lower tier. Since 1 January 2023 the FSIE regime has deemed specified foreign-sourced income received in Hong Kong by members of multinational groups to be taxable, unless an exception is met. The income covered is interest, dividends, IP income and equity disposal gains, extended on 1 January 2024 to other disposal gains.

The exceptions are economic substance (adequate staff and spending in Hong Kong), nexus for IP income, and participation (5% held for 12 months) for dividends and equity gains. The EU removed Hong Kong from its tax 'grey list' (Annex II) on 20 February 2024 after the FSIE expansion. Pillar Two global minimum tax (IIR) and a Hong Kong minimum top-up tax at 15% apply to groups with revenue of EUR 750 million or more for fiscal years from 1 January 2025.

Sources: ird.gov.hk · ird.gov.hk · ird.gov.hk · kpmg.com

Risk lists

FATF. FATF member since 1991, and not on the FATF grey or black lists as of the June 2026 plenary. Its last mutual evaluation was published on 4 September 2019 (FATF/APG). A 2023 follow-up rated it compliant or largely compliant on 36 of the 40 Recommendations and partially compliant on 4.

EU high-risk list. Not listed. Hong Kong is not on the EU AML high-risk third countries list as amended with effect from 29 January 2026.

Hong Kong is not on the EU tax non-cooperative list or its Annex II watchlist (removed on 20 February 2024). Banks still apply enhanced due diligence to structures linked to high-risk jurisdictions or with no real Hong Kong substance. Effectiveness will be reassessed in the FATF 5th round, for which no date is published.

Sources: fatf-gafi.org · dia.govt.nz · cm.twobirds.com · kpmg.com

Regulators

• Hong Kong Monetary Authority (HKMA): Banks, virtual banks, stored value facility (SVF) licensees, and stablecoin issuers
• Securities and Futures Commission (SFC): Virtual asset trading platforms (VATPs) and securities and futures intermediaries
• Customs and Excise Department (C&ED): Licensing and enforcement for Money Service Operators (remittance and money changing) under the AMLO
• Companies Registry (CR): Company incorporation, annual returns, and significant controllers register rules
• Inland Revenue Department (IRD): Profits tax, FSIE regime, business registration, and global minimum tax