Open a Cryptocurrency Company in Hong Kong

By Vlad Cuc, specialist in company formation matters 

Our team can help you open a cryptocurrency company in Hong Kong by observing the current registration and licensing requirements.

What types of services do crypto companies in Hong Kong offer?

Cryptocurrencies are virtual currencies for which special cryptography is used for security purposes.

Investors who open a cryptocurrency company in Hong Kong may be involved in:

1. Exchange and brokerage activities;
2. Wallet and storage services;
3. Payment gateway solutions;
4. Others, such as blockchain consulting, token creation, NFT-related activities.

What are the steps for cryptocurrency company formation in Hong Kong?

Cryptocurrency companies in Hong Kong need to be incorporated and registered as per the Companies Ordinance (Cap. 622). All new corporate structures are registered with the Companies Registry and function based on a Business Registration Certificate.

Company registration in Hong Kong is a generally simple process. Investors can follow these main steps when deciding to open a company in Hong Kong:

• Choose a company name: the name of the new company needs to be unique and observe the name guidelines; an online check can be performed.
• Prepare the company documents: the Articles of Association need to be drafted according to the type of company and its particularities.
• Arrange the address: locally registered companies are required to have a registered address in Hong Kong.
• Company structure: make the director appointments and establish the general structure of the company, including a secretary, if applicable.
• Register: submit the registration form along with all of the needed documents to the Companies Registry.

What documents do I require to open a crypto company in Hong Kong?

Investors are asked to prepare the following:

• Passport copies for the company’s shareholders and directors;
• Recent proof of address (no older than 3 months) for the company’s persons of interest (shareholders and directors);
• Two or three company name proposals, to ensure that they are available for use;
• Details on the business scope;
• The issued share capital (no minimum paid-up capital is required in Hong Kong, but the share capital commonly used is HK$ 10,000 or about US$ 1,285; authorised capital was abolished in 2014).

How fast can I open a cryptocurrency company in Hong Kong?

The expected registration timeline is between 8 and 10 working days after the receipt of the documents.

The required time can vary, and it largely depends on whether or not the documentation is complete and correct.

How much does it cost to open a Hong Kong crypto company?

Our team offers several company formation packages, irrespective of the industry in which the business will operate. A simple package can include the following for a fee of 1,000 USD:

• Certificate of Incorporation issuance (including the preparation of the Articles of Association, and making the required submissions);
• First-year statutory secretary service;
• One-year registered office address (mandatory for incorporation);
• First-year electric signboard service and first-year universal beneficial owner service.

The fee for the physical corporate bank account opening is taxed separately. The foreign investor must be present in person to sign the banking documents and this service has a fee of 1,000 USD.

We invite you to watch the following video on opening a cryptocurrency business in Hong Kong: 

Do I need a crypto license in Hong Kong?

Companies that offer virtual asset trading platform to the public must be lawfully registered and licensed in Hong Kong. Licenses are issued by the Securities and Futures Commission (SFC). The license falls under the broader scope of the regulated virtual assets providers’ laws.

An important distinction is made between SFC-licensed companies and deemed-to-be licensed legal entities. The latter are not yet formally licensed and could only continue operating under transitional arrangements (which ended on 31 May 2024) while their applications were pending; investors should use platforms on the SFC's list of licensed VATPs.

What are the regulatory requirements for crypto companies in Hong Kong?

Companies that register for and obtain a crypto license in Hong Kong, and thus become licensed by the SFC for offering VASP services must:

• Observe the general guidelines for virtual asset trading platform operators;
• Ensure the safe custody of assets and implement “know-your-client” processes;
• Observe the applicable anti-money laundering and terrorism counter-financing rules;
• Make sure that their directors and other relevant persons are not involved in conflicts of interest;
• Observe the accounting and auditing rules, as well as those for risk management and cybersecurity relevant in this business sector.

Contact us for more information and advice on how to open a cryptocurrency company in Hong Kong.