Trust Company License

General Information

Any company incorporated in Hong Kong but is not a private company may apply in writing to the Registrar of Companies to be registered as a trust company pursuant to the Trustee Ordinance (Chapter 29 of the Laws of Hong Kong) to engage in trustee services.   However, the applicant must be a company incorporated in Hong Kong and must not be a ‘private company’ within the meaning of section 29 of the Companies Ordinance. A Trust Company can use “Trust” in its company name but a Hong Kong private limited company registered under Companies Ordinance Chapter 622 is prohibited from a company name bearing “Trust”.

 

Trustees can conduct a range of trust services in Hong Kong without the need to be licensed or registered as a trust company.  However, certain services in Hong Kong can only be conducted by a Hong Kong registered trust company. For example, only a registered trust company can:

  1. apply for probate or administration,  
  2. be appointed by the court as a trustee, or
  3. apply to be an approved trustee for a Mandatory Provident Fund scheme.

 

Eligibility for Registration 

The applicant needs to fulfill the following requirements:

1.  the objects of the company in its memorandum of association must be restricted to some or all of the objects set out in section 81 of the Trustee Ordinance;

2. the issued share capital of the company cannot be less than HK$3,000,000;

3. at least HK$3,000,000 of the issued share capital is bona fide fully paid up for a cash consideration (a director’s written confirmation is required);

4. the board of directors (the company must have at least two directors) has been duly appointed;

5. the company has:

  1. deposited in the name of the Director of Accounting Services (“DAS”) (i.e. “Director of Accounting Services for account of (name of the intended trust company)”) with a finance company that is a subsidiary of a bank a sum not less than HK$1,500,000 and lodged the respective receipt issued by the finance company with the DAS; or
  2. DAS a guarantee, in terms acceptable to the DAS, from a bank; or
  3. DAS investments to the value of not less than HK$1,500,000; and

6. the company must be able to meet its obligations, apart from its liability to its shareholders, without taking into account the investments or sum deposited with the DAS (a director’s written confirmation is required).

 

Registration Procedure

Applications should be made in writing to the Registrar of Companies together with the director’s written confirmation of compliance with the requirements under Eligibility for Registration above and pay the application fee and certificate registration fee.

 

Register of Trust Companies

Upon approval of application, a Certificate of Registration as a Trust Company will be issued by the Companies Registry as a Trust Company and its name will be entered on the Register of Trust Companies maintained by the Companies Registry.

 

Documents Required

Usually the following documents are required:

  1. Complete our internal due diligence forms.
  2. Identity proof and address proof of the directors/shareholders and bank signatories.
  3. Curriculum Vitae of the applicant.

Our Services

We can assist you:
  1. Review and assess applicant’s bio and experiences.
  2. Form the Hong Kong trust company.
  3. Rent an office at an cost effective manner as an operating office.
  4. Open bank account.
  5. Compile all the required documents.
  6. Application submission to the respective authorities.
  7. Liaise and answer queries with/to the respective authorities.
  8. Report status of application until its approval.

Please contact us for enquiry :

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
WhatsApp: (852) 6299 9588
Skype: iBancorp
Tel: (852) 3110 6389
Fax: (852) 2186 6935

 

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error omission.

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