Regulatory Alerts1989-03-08
Added · Updated
The Three-Tier System Annex C: Authorisation criteria for deposit-taking companies
The Hong Kong Monetary Authority establishes authorisation criteria for deposit-taking companies under the Three-Tier System. Applicants must be at least 50% owned by a prudentially supervised bank, maintain paid-up capital of at least HK$25 million, and demonstrate reputable ownership with fit and proper management. Additionally, the entity must ensure at least two residents in Hong Kong exercise effective control over its business operations.
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