Professional Guidance: Doo Consulting Supports Clients in Obtaining the Hong Kong Trust or Company Service Provider (TCSP) Licenses 

Recently, Doo Group’s consulting arm, Doo Consulting, leveraged its professional services to assist clients in obtaining the Hong Kong Trust or Company Service Provider (TCSP) license. This effort also successfully supported our clients in registering as a trust company with the Hong Kong Companies Registry, providing reliable compliance assistance for their business expansion.

What is a TCSP License?

A Hong Kong Trust or Company Service Provider (TCSP) license is an essential certification issued by the Hong Kong Companies Registry. It not only recognizes a company’s professional capabilities and quality of service but also serves as a symbol of its credibility. According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), anyone operating or intending to operate trust or company service businesses in Hong Kong must apply for this license.

Companies holding a TCSP license and registered as a trust company can provide regulated professional services such as trust management and company registration to their clients. For businesses and individuals looking to provide corporate secretarial services or establish a trust structure in Hong Kong, holding a TCSP license is undoubtedly a key criterion for partnership when selecting a partner.

How to Apply a TCSP License?

The Hong Kong Companies Registry enforces a stringent licensing regime for the TCSP licenses, with relatively complex application requirements and procedures. Applicants must be companies registered in Hong Kong. Furthermore, if they intend to register as a trust company later, they must convert to a public company and cannot remain as a private company. The company must have a clear purpose that does not conflict with Hong Kong’s current laws. On top of that, specific requirements apply to the company’s share capital, financial capacity, the reputation of its directors and senior management, as well as its measures to combat money laundering and terrorism financing.

As a result, the application process requires the submission of comprehensive documentation, including company registration records, details of directors and senior management, declarations of suitability, authorization letters, and more. After successfully obtaining the license, licensed companies must regularly submit reports to regulatory authorities, cooperate with reviews, and provide necessary information to ensure ongoing compliance.

Understanding the complexity of the application process, Doo Consulting offers end-to-end services, covering every step from initial assessment to license approval.

Professional Services for Complete Peace of Mind

Our Doo Consulting advisory team possesses professional expertise and extensive experience in areas such as law, compliance, corporate secretarial services, finance, and taxation. We assist clients in preparing application documents, reviewing files, and submitting applications to the Hong Kong Companies Registry, ensuring a smooth application process and successful registration of a licensed company.

On 9 August 2023, our Doo Consulting advisory team officially submitted the application for the TCSP license on behalf of a client after meticulous preparation. On 31 October 2024, the client successfully obtained approval from the Hong Kong Companies Registry through our team’s coordination. Building on this success, we further assisted the client by applying for a trust company registration on 8 July 2024. This application was also successfully approved and took effect on 26 September 2024.

Throughout the entire process, our team was always available to provide the client with professional guidance. Adhering to the principle of “Clients Come First,” we ensured that the client fully understood and complied with Hong Kong’s legal, regulatory, and supervisory requirements.

Beyond the initial stages, our team continues to offer ongoing compliance support, assisting clients with updates on laws and regulations, license renewals, and other related services throughout their business operations.

By obtaining a TCSP license and registering as a trust company, clients can quickly enter the Hong Kong market while enhancing their competitiveness and credibility. With the support of Doo Consulting’s professional services, Doo Group strives to assist clients expand into global markets and achieve sustained growth. Moving forward, we will continue refining our integrated business ecosystem, empowering our clients to stay at the forefront of their industries through our professional services.