Money Service Operator (MSO) in Hong Kong
If your aim is to conduct money management activities you must obtain a Money Service Operator license.
Under Hong Kong law, “money management” refers to the activity of exchanging money and / or making money transfers.
Money exchange services mean currency exchange activities that are conducted from Hong Kong as the main activity.
Money transfer services include sending and / or organization the sending of money outside of Hong Kong; reception and / or organization of reception of money from a place outside Hong Kong; and / or arrange to receive money at a location outside of Hong Kong.
In accordance with the legal acts governing the activities of companies licensed as MSO, the concept of “cash” includes cash in any form or currency, the term “currency” includes checks and traveler’s checks.
Virtual assets such as cryptocurrencies are not considered legal tender or currency in Hong Kong, and trading in such virtual goods is outside the MSO’s regulatory regime and is not directly regulated by law.
Thus, this license allows you to execute third-party applications for money transfers in fiat currency.
MSO Hong Kong license (Money Service Operator) – issued for two years and allows you to operate in the field of money transfers in and out of Hong Kong. The terms for obtaining such a license are 3-5 months.