An SVF license in Hong Kong is equivalent to the EMI license in Europe. Getting the SVF license is relevant if the company operations involve electronic money issue. Such well-known financial companies as WeChat Pay, Alipay Wallet, Octopus Cards and TNG Wallet hold the SVF license in Hong Kong.
The SVF payment license in Hong Kong is quite expensive and is issued for a definite term (5 to 10 years). When this term expires, repeat registration is possible under a simplified procedure. With extensive experience in financial projects, we are capable of proposing a wide choice of countries and license types suitable for the registration of payment systems.
The Money Service Operator License includes the money exchange service or the money transfer service.
The MSO license is commonly valid for 2 years. The licensee must apply for a license extension before the license expires and needs to state that they wish to continue the money service operation.
A company seeking an MSO license must be registered in Hong Kong and maintain an office with local employees. One should keep in mind that all directors and shareholders need to be present to open a bank account with a Hong Kong bank.
The approach proposed by SBSB consists in end-to-end servicing of turnkey fintech projects, covering the selection of the jurisdiction for company incorporation, monthly legal support, tax burden calculation, design of payment systems software and ultimately the full-fledged project launch.