Frequently asked questions
Do I need an MSO licence?
If you operate a money-changing service (exchanging currencies) or a remittance service (sending or receiving money to/from outside Hong Kong) as a business, then yes — you need an MSO licence from the Customs and Excise Department. Doing just one of the two is enough to require a licence. See What is an MSO.
How long is the licence valid?
Two years. You should apply to renew no later than 45 days before it expires.
How much does it cost?
Government fees are set under AMLO Schedule 3 (revised 15 May 2026) — indicatively around HK$3,310 for the basic application, plus a per-proper-person audit fee and a per-additional-premises fee. The larger costs are usually premises, staff and compliance. See Costs & fees.
How long does the application take?
There is no guaranteed timeframe. It depends on how complete your application is and the fit-and-proper checks on your controllers — allow several weeks to a few months from a complete submission.
Where do I apply?
Online, through the Customs and Excise Department's MSO Licensing System (e-Services portal). See How to apply.
What happens if I operate without a licence?
It is a criminal offence. On conviction on indictment the penalty can be a fine of up to HK$1,000,000 and 2 years' imprisonment. Don't trade until you are licensed.
Is a crypto / virtual-asset exchange an MSO?
No. Trading or exchanging virtual assets is regulated under the separate VASP regime administered by the SFC. A business doing both fiat money-changing and crypto may need to consider both regimes. See Use cases.
What's the difference between an MSO licence and an SVF licence?
An SVF (stored-value facility) licence — for e-wallets and prepaid payment products that hold customer funds — is issued by the HKMA. An MSO licence is for money changing and remittance and is issued by the Customs and Excise Department. They are different licences for different activities.
Do banks need an MSO licence to change money?
No. Banks authorised by the HKMA are already supervised for AML/CFT purposes and do not need a separate MSO licence.
Who must be "fit and proper"?
All controllers — the sole proprietor, partners, directors and ultimate owners. The Department checks matters such as criminal convictions, bankruptcy, competence and integrity. See Who can apply.
How often is the directory on this site updated?
Every day. An automated job fetches the latest official list from DATA.GOV.HK each morning, so the directory and the headline figures stay current.
Is this website official?
No. This is an independent educational resource. It is not affiliated with the Hong Kong Government or the Customs and Excise Department, and nothing here is legal advice. Always verify with the Department — see About & disclaimer.