Licence Fees

Our ref : B1/2S
14 June 2024
The Chief Executive
All Authorized Institutions
The Chief Representative
All Local Representative Offices
The Chief Executive
All Approved Money Brokers
Dear Sir / Madam,
Licence Fees
I am writing to draw your attention that the resolution introduced by the Government to amend the Second Schedule to the Banking Ordinance (Cap.
155) (the “Ordinance”) to increase the fees payable under sections 19(1) to
(2), 20(5), 45(1) to (3), 48 (1) to (4), 51(1) to (2) and 118F(1) to (2) of the Ordinance was passed by the Legislative Council under section 135(2) of the Ordinance on 12 June 2024. The above-mentioned resolution has been published in the Gazette today (14 June 2024) and the amended Second Schedule (Annex) will become effective on the same date.

• 2 -
  If you have any questions on this circular, please contact Ms Shirley Ho on 2878-1847 or Mr Ian Au on 2878-1290. Yours faithfully, Alan Au Executive Director (Banking Conduct) Encl. c.c. Secretary for Financial Services and the Treasury (Attn:Mr Justin To)

• 3 -
  Amended Second Schedule to the Banking Ordinance Fee items Fee ($)

1. Banking licence fee 610,000
   1A. Renewal of banking licence fee 610,000
2. Registration fee 145,000
3. Renewal of registration fee 145,000
4. Restricted banking licence fee 490,000
5. Renewal of restricted banking licence fee 490,000
6. Inspection fee 12
7. Fee for a copy or extract, per page 6
8. Fee for the establishment of a local branch of a bank, other than a
   restricted licence bank
   29,000
9. Annual fee for maintaining a local branch of a bank, other than a
   restricted licence bank
   29,000
10. Fee for the establishment of a local branch of a restricted licence
    bank or deposit-taking company
    20,000
11. Annual fee for maintaining a local branch of a restricted licence
    bank or deposit-taking company
    20,000
12. Fee for the establishment of a local representative office 29,000
13. Annual fee for maintaining a local representative office 29,000
14. Fee for the establishment of an overseas branch of a bank, other
    than a restricted licence bank
    58,000
15. Annual fee for maintaining an overseas branch of a bank, other
    than a restricted licence bank
    58,000
16. Fee for the establishment of an overseas branch of a restricted
    licence bank or deposit-taking company 40,000
17. Annual fee for maintaining an overseas branch of a restricted
    licence bank or deposit-taking company 40,000
18. Fee for the establishment of an overseas representative office of a
    bank, other than a restricted licence bank 14,500
19. Annual fee for maintaining an overseas representative office of a
    bank, other than a restricted licence bank 14,500
20. Fee for the establishment of an overseas representative office of a
    restricted licence bank or deposit-taking company 20,000
21. Annual fee for maintaining an overseas representative office of a
    restricted licence bank or deposit-taking company 20,000
22. Approved money broker fee 58,000
23. Renewal of approved money broker fee 58,000
    Annex