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 |
|---|---|---|---|---|
| Hong Kong Gold Exchange Membership Rights | Hong Kong Gold Exchange HKGX | Acquisition of membership rights, share transfers and trading eligibility: first verify identity and business permissions. | The official ordinary membership transfer and refiner transfer checklists both specify issued and fully paid ordinary share capital of at least HKD 5 million and net assets of at least HKD 5 million. They also require prescribed liquid funds of at least HKD 1.5 million, excluding client money. These three amounts are not simply added together to determine the acquisition price; the purchase price, fees and product margin should be budgeted separately. [3][4][5] | Acquisition of Membership Rights |
| DPMS Registration for Dealers in Precious Metals and Stones | Hong Kong Customs and Excise Department (C&ED) | Class A and Class B registrations: identify the applicable class by transaction amount, cash and business model. | The Customs and Excise Department’s current DPMS registration guidelines do not prescribe a uniform minimum amount of paid-up share capital, working capital or security deposit for Category A or Category B. Separate budgets must be made for procurement, rent, staffing and compliance expenses. The registration application fee and fit-and-proper assessment fee are not capital requirements; nor should working capital recommended by a consultant be presented as a statutory threshold. [1][3] | Category A / Category B Registration |
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.