MSO iPASS is an online self-assessment tool launched by the Customs and Excise Department ("C&ED") for enabling any person who wishes to engage in money service business, i.e. money changing service or remittance service, in Hong Kong to perform a quick and simple self-assessment on his or her eligibility and readiness to apply for an MSO licence.
An MSO licence is granted only if the Commissioner of Customs and Excise ("Commissioner") is satisfied that the sole proprietor / each partner / director / the ultimate owner (if any) of the applicant company is a "fit and proper person". In determining an applicant"s fitness and propriety for operating a money service, the Commissioner will take into account, including but not limited to, factors referred to in this MSO iPASS.
Participants will take about 20-25 minutes to answer all questions set out in this self-assessment program. Before conducting this program, participants are strongly advised to study the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, Cap. 615 ("Ordinance") and the C&ED"s publications related to the MSO licensing regime. Result of the self-assessment will indicate the status of participants to be "ready and eligible", "not yet ready/ ineligible" or "almost ready and eligible" to apply for an MSO licence.
| Overall Grading | MSO Licence Eligibility and Readiness |
|---|---|
| Green | Ready and eligible |
| Amber | Almost Ready and eligible |
| Red | Not Yet Ready / ineligible |
The relevant C&ED"s publications can be found on the C&ED website at https://eservices.customs.gov.hk/MSOS/common/guidelines?request_locale=en and https://eservices.customs.gov.hk/MSOS/common/licissus?request_locale=en.
Participants are welcome to contact us, the Money Service Supervision Bureau, by email at msoenquiry@customs.gov.hk for further enquiries.
The result generated upon completion of assessment is for reference only. Subsequent application result is not guaranteed. In assessing an MSO licence application, each case will be considered on its own merits, taking into account all relevant factors including, but not limited to, the criteria set out in the Ordinance and Guidelines on criteria for determining fitness and propriety.
A. Compliance History and Fit and Proper Criteria
B. Licensing Requirements
C. Suitability of Premises
D. AML/CFT/CPF Obligations