Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the SFC decision, including banking and payment rails.
Get an investment license in Hong Kong.
Asia's asset-management gateway: SFC licensing under the Securities and Futures Ordinance - Type 9 asset management from HK$100,000 liquid capital where no client assets are held, Type 4 advising and Type 1 dealing stacked as the model needs, two responsible officers per activity, and a tax system with no charge on capital gains or dividends.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Hong Kong in brief
The manager's licence at the door to Asian capital.
Hong Kong licenses investment business by activity type under the Securities and Futures Ordinance: Type 9 for asset management, Type 4 for advising on securities, Type 1 for dealing. The economics favour the manager - under the Financial Resources Rules, a Type 9 or Type 4 firm that takes the no-client-assets licensing condition carries no minimum paid-up capital and a liquid-capital floor of HK$100,000, while full-service firms and Type 1 dealers run at HK$5 million paid-up and HK$3 million liquid. Every activity needs two responsible officers - experienced individuals the SFC approves personally, and it is the bench, more than the balance sheet, that decides the file.
The commercial case is position: Hong Kong is the gateway between international capital and Greater China, with the deepest institutional pool in Asia after Tokyo and a distribution reach mainland funds cannot ignore. The tax system is built for asset management - two-tier profits tax of 8.25% on the first HK$2 million and 16.5% above, no capital gains tax, no VAT, no dividend withholding, and fund-level concessions for qualifying vehicles. For portfolio managers running Asian mandates, family offices institutionalising and advisory houses selling research into the region, the SFC licence is the credential the market reads first. We build the file - entity, bench, capital and business plan - end to end.
Asia's manager gateway: SFC Type 9 asset management with Type 4/1 stacked - HK$100,000 liquid capital on the no-client-assets condition, HK$5M/HK$3M full-service, two approved responsible officers per activity.
8.25%/16.5% profits tax, no CGT, no dividend WHT, no VAT, and Greater China distribution through the Connect channels. Built end to end.
The licence stack
Type 9 at the core - Types 4 and 1 as the model needs.
SFC permissions stack by activity: the manager's Type 9, the adviser's Type 4, the dealer's Type 1. We fix the perimeter first and license once.
The Type 9 manager. With Type 1 dealing stacked when needed.
01 - TYPE 9 · ASSET MANAGEMENT
The manager's licence
Discretionary portfolio and fund management for external capital. With the no-client-assets condition, no paid-up minimum and HK$100,000 liquid capital; custody sits with banks and the manager manages.
Discretionary portfolio and fund management for external capital. With the no-client-assets condition, no paid-up minimum and HK$100,000 liquid capital; custody sits with banks and the manager manages.
- ✓Discretionary mandates and funds
- ✓HK$100,000 liquid - no client assets
- ✓HK$5M / HK$3M full-service
- ✓Two responsible officers
- ✓Type 4 advising stacked in one file
- ✓Fund concessions for qualifying vehicles
02 - TYPE 1 · DEALING
The dealing firm
Broking, placement and distribution on HK$5 million paid-up and HK$3 million liquid capital. The execution layer added when the model moves from managing money to moving it.
Broking and distribution at HK$5M paid-up / HK$3M liquid. The execution layer on top of the manager's licence, one corporate file.
- ✓Dealing and distribution
- ✓HK$5,000,000 paid-up
- ✓HK$3,000,000 liquid capital
- ✓Client-asset rules in full
- ✓FRR reporting monthly
- ✓Upgrade path from Type 9/4
Capital per the Securities and Futures (Financial Resources) Rules as of 2026. SFC application fees follow the fees schedule. Confirmed at filing.
Why Hong Kong
Six reasons managers choose the gateway.
✓
The China gateway
International capital enters Greater China through Hong Kong. The licence puts your firm at the toll booth.The toll booth position.
✓
Manager-friendly capital
HK$100,000 liquid for the no-custody manager. The SFC prices the licence on people, not balance sheet.People over balance sheet.
✓
A tax system for funds
No capital gains tax, no dividend withholding, 8.25% on the first tranche of profits. Management fees keep their value.Gains keep their value.
✓
Institutional depth
Asia's densest pool of allocators, private banks and family offices. Distribution is a lift ride, not a roadshow.Allocators next door.
✓
Common-law standing
SFO case law, English-language courts and documentation global LPs sign without translation.LPs sign without translation.
✓
The bench decides
Two approved responsible officers per activity. A strong bench licenses faster than a strong balance sheet.Strong ROs license fast.
How it compares
How Hong Kong differs from other routes.
The comparison, side by side: the region's deepest market. Licensed on the strength of your people.
Hong Kong vs other jurisdictions
| Feature |  Hong Kong | Other jurisdictions |
|---|---|---|
| Regime | SFO - SFC types | Single-licence regimes |
| Manager capital | HK$100k liquid · no custody | Fixed six-figure minimums |
| Taxation | 8.25%/16.5% · no CGT | 17-30% with CGT layers |
| Clientele | Greater China + global | Regional pools |
Regime
Hong KongSFO - SFC types
Other jurisdictionsSingle-licence regimes
Manager capital
Hong KongHK$100k liquid · no custody
Other jurisdictionsFixed six-figure minimums
Taxation
Hong Kong8.25%/16.5% · no CGT
Other jurisdictions17-30% with CGT layers
Clientele
Hong KongGreater China + global
Other jurisdictionsRegional pools
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Hong Kong | SFC Types 9/4/1 | 8.25%/16.5% · no CGT | HK$100k-HK$5M by model |
 Singapore | MAS CMS licence | 17% + fund incentives | S$1M-S$5M base capital |
 Japan | FSA - IM registration | ≈30% effective | ¥50M · QI route ¥10M |
 Australia | ASIC AFSL | 30% · 25% base rate | NTA tiers by custody |
Hong KongLicense typeSFC Types 9/4/1
Taxation8.25%/16.5% · no CGT
RequirementsHK$100k-HK$5M by model
SingaporeLicense typeMAS CMS licence
Taxation17% + fund incentives
RequirementsS$1M-S$5M base capital
JapanLicense typeFSA - IM registration
Taxation≈30% effective
Requirements¥50M · QI route ¥10M
AustraliaLicense typeASIC AFSL
Taxation30% · 25% base rate
RequirementsNTA tiers by custody
Before you apply
Requirements for the SFC licence.Requirements for the licence.
The SFC licenses activity by activity and person by person. The checklist below is what a passing file contains.
01
Hong Kong company. Incorporated locally with a registered office the SFC can visit.
02
Licence perimeter. Types 9, 4 and 1 mapped to the actual service set before filing.
03
Capital by condition. HK$100,000 liquid under the no-client-assets condition; HK$5M/HK$3M full-service.
04
Two responsible officers per activity. SFC-approved individuals with provable relevant experience.
05
Fit-and-proper substantial shareholders. Vetted to ultimate-owner level.
06
Business plan. Strategy, client base and three-year forecasts the case officer can test.
07
Compliance architecture. Manual, MIC framework and internal controls per SFC codes.
08
Client-asset logic. Custody arrangements, or the condition that excludes them, documented.
09
FRR machinery. Liquid-capital computation and monthly reporting live from day one.
10
AML/CFT programme. AMLO compliance with a named MLRO.
11
Substance. A real Hong Kong operation: premises, staff and the responsible officers resident.
01
Hong Kong company, real office.
02
Types mapped to the model.
03
Capital per FRR condition.
04
Two ROs per activity.
05
Shareholders vetted to UBO.
06
Testable business plan.
07
Compliance per SFC codes.
08
Custody logic documented.
09
FRR reporting live.
10
AMLO programme, MLRO.
11
Resident substance.
Reflects the SFO and Financial Resources Rules as of 2026. Responsible-officer approvals run inside the corporate application.SFO + FRR, as of 2026.
How it works
From first call to the SFC register.
01
Perimeter
Service set to licence types, capital condition chosen. The file scoped before it is built.Scope before build.
02
Company and bench
Hong Kong entity, capital arranged, two responsible officers per activity secured.ROs secured early.
03
The application
Corporate and RO files submitted together. Plan, manual and FRR computations complete.Corp + RO together.
04
Requisitions
SFC case-officer questions answered on schedule. The phase where prepared files win months.Answered on schedule.
05
Licence and launch
Register entry, banking and custody live. Managing Asian mandates from the gateway.Managing from the gate.
Quick facts
RegulatorSFC
FrameworkSFO Cap. 571
Core licenceType 9 asset management
No-custody capitalHK$100,000 liquid
Full-serviceHK$5M / HK$3M
Responsible officers2 per activity
Realistic timeline6-10 months
Profits tax8.25% / 16.5%
The RO bench is the critical path. Sourcing approvable officers early is the single biggest schedule lever.
On the ground in Hong Kong
Run from our Hong Kong office.
Prifinance - Hong Kong
Hong Kong
Hong Kong
01
Perimeter and entity
Types mapped to the real service set, company built for the licence - no over-licensing, no gaps.Types without excess.
02
The responsible-officer bench
ROs sourced, vetted and taken through SFC approval. The bench that carries the file.Sourced and approved.
03
The SFC application
Business plan, compliance manual and FRR pack. Complete at filing, defended through requisitions.Complete at submission.
04
Launch and distribution
Banking, custody and fund structures assembled. The firm selling into Asia's densest pool.Custody and Connect.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Good to know
Taxation of investment firms in Hong Kong.
Territorial, two-tier and free of the taxes that erode asset-management economics elsewhere.
8.25% then 16.5%
Two-tier profits tax - 8.25% on the first HK$2 million of profits, 16.5% above; management fees are taxed, gains often are not.Two-tier profits tax.
No capital gains tax
Portfolio appreciation, carried value and exit gains sit outside the charge. The core of manager economics.Gains stay whole.
No dividend withholding
Distributions leave Hong Kong clean. Founder and group structures stack without leakage.Clean distributions.
No VAT / GST
No indirect-tax layer on fees at all. Pricing is what the client pays.Fees unpadded.
Territorial base
Offshore-sourced profits can fall outside the net entirely. Mapped, documented and defended per case.Offshore source mapped.
Fund concessions
Qualifying funds and carried-interest regimes lighten the vehicle layer. Structured with the licence from day one.Vehicle layer lightened.
Tax summary
Profits tax8.25% / 16.5%
Capital gains taxNone
Dividend withholdingNone
VAT / GSTNone
Tax treaties50+
*Figures as of 2026 per the Inland Revenue Department. Offshore-source and fund-concession outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Hong Kong company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
Follow Prifinance
Active across our channels.
Hong Kong · SFC
Launch your investment firm in Hong Kong with expert support.
Full-service assistance - from incorporation and responsible officers to SFC licensing and custody - run through our Hong Kong office.
Get a consultation →Free legal opinion
Is Hong Kong the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Hong Kong investment licence - what clients ask.
What licence does an asset manager need in Hong Kong?+
Type 9 (asset management) from the SFC under the Securities and Futures Ordinance - typically stacked with Type 4 (advising on securities) and, where the model deals or distributes, Type 1 (dealing in securities). One corporate application covers the stack.
What capital is required?+
Under the Financial Resources Rules, a Type 9 or Type 4 firm on the no-client-assets condition carries no minimum paid-up capital and a HK$100,000 liquid-capital floor. Full-service firms and Type 1 dealers run at HK$5 million paid-up and HK$3 million liquid.
What is the no-client-assets condition?+
A licensing condition under which the firm never holds client money or securities - custody sits with banks and brokers while the firm manages or advises. It cuts the capital requirement to HK$100,000 liquid and simplifies compliance materially.
Who are responsible officers?+
Each regulated activity needs at least two SFC-approved responsible officers - senior individuals with provable relevant experience who supervise the business personally. The RO bench is the heart of the application and usually its critical path.
How long does licensing take?+
Realistically 6-10 months including preparation - the SFC's processing runs from a complete corporate-plus-RO file, and requisition rounds reward files that were complete at submission.
How are Hong Kong investment firms taxed?+
Two-tier profits tax - 8.25% on the first HK$2 million, 16.5% above - with no capital gains tax, no dividend withholding and no VAT. Territorial sourcing and fund concessions can lighten the effective rate further.
Does the licence give access to mainland China?+
Hong Kong is the structured gateway: Stock and Bond Connect, mutual recognition of funds and the cross-boundary schemes run through licensed Hong Kong firms. The licence is the entry ticket to those channels, each with its own eligibility.
What substance does the SFC expect?+
A real Hong Kong operation - premises, resident responsible officers and staffed control functions. The SFC licenses people it can meet, in an office it can visit.
Hong Kong or Singapore for the Asian base?+
Twin gateways: Hong Kong for Greater China depth and the no-CGT system; Singapore for Southeast Asia, fund incentives and MAS's programmatic clarity. Client geography decides - we model both.
Why Prifinance for Hong Kong?+
Perimeter design, an RO bench sourced and approved, and a file complete at submission - the three levers that decide SFC timelines, run from our Hong Kong office.
What licence?+
SFC Type 9 + 4/1 stack.
Capital?+
HK$100k liquid no-custody.
Full-service?+
HK$5M / HK$3M.
ROs?+
Two per activity, approved.
How long?+
6-10 months realistic.
Taxes?+
8.25%/16.5%, no CGT.
China access?+
Via Connect channels.
Substance?+
Real office, resident ROs.
Or Singapore?+
Client geography decides.
Why you?+
Bench + complete files.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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Google
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