COMPARE BEFORE YOU DECIDE
One comparison table to see the differences between the regimes.
Start with the business scope, competent authority and capital baseline. Specific requirements must still be checked item by item in the relevant guide against the business model and licence conditions.
LICENSING COMPARISON
Core comparison of Hong Kong financial qualifications
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| Licences / Qualifications | Regulatory authorities | Business and Applicable Scenarios | Capital and Financial Resources | Entry pathways |
|---|---|---|---|---|
| LPF Limited Partnership Fund Registration | Hong Kong Companies Registry CR | Roles of the general partner, investment manager and responsible persons, and fund registration arrangements. | The LPF registration regime does not prescribe a uniform statutory minimum fund size, paid-up capital or minimum contribution per limited partner. Contributions and capital-call arrangements are determined by the partnership agreement. This does not exempt a manager from separate licensing capital requirements, nor does it mean that the fund can operate without working capital or avoid legal, audit and government fees. | Fund Registration Regime |
| Establishing a Hong Kong family office | Depending on the activities involved, including the SFC and the Inland Revenue Department | Single-family and multi-family office structures, licensing boundaries and substantive operations. | There is no uniform minimum paid-up share capital or asset-size requirement for a family office as such; where a licence is required, the applicable regime determines the calculation. For Type 9, a licence condition that does not involve holding client assets carries no minimum paid-up share capital requirement, and the minimum liquid capital is HKD 100,000. The HKD 240 million asset threshold for family office tax concessions is not start-up capital. | Assessment of structure and regulatory boundaries |
Capital is a regulatory resource threshold, not a service quotation. The absence of a stated uniform minimum capital requirement does not mean that sufficient operating funds are unnecessary. An acquisition does not remove regulatory review, and registration or membership does not amount to a general financial licence.
Get Advice on Business SuitabilityYOUR NEXT CHAPTER STARTS HERE
First, tell us about your business,
Then select a suitable licensing path.
Discuss your business model, capital budget and schedule with Tang Shangyong (Drew) to prepare a checklist of next steps.