Company convicted of carrying on company service business without a licence
The new licensing regime for trust or company service providers commenced on March 1, 2018. Under the AMLO, such providers are required to apply for a licence from the Registrar of Companies before they can provide trust or company services as a business in Hong Kong. Any person who carries on a trust or company service business in Hong Kong without a licence commits an offence and is liable on conviction to a fine up to $100,000 and imprisonment up to six months.
"The ruling helps disseminate a strong message to all that the Companies Registry will rigorously enforce the licensing regime for trust or company service providers," a spokesman for the Registry said.