The Securities and Futures Commission (SFC) of Hong Kong licenses firms conducting regulated activities in securities, futures, asset management and corporate finance — under the Securities and Futures Ordinance (SFO).
Hong Kong remains one of Asia's premier financial centres, with the SFC regulating securities and futures businesses under a world-class framework. An SFC licence grants access to the HK equity market (the world's 4th largest by capitalisation), the Stock Connect programmes linking HK to Mainland China, and a network of institutional counterparties that require SFC-authorised counterparties for regulated transactions.
Marensa Advisory advises on SFC licence applications across Types 1–9, covering application strategy, Responsible Officer approval, compliance programme design, and ongoing SFO obligations.
Discuss Your SFC ApplicationThe SFC issues nine types of Regulated Activity licence. Most asset managers, brokers and advisers require one or more of the following.
SFC applications require detailed compliance documentation and a clear articulation of how the firm's operations align with SFC conduct requirements. RO approval is often the longest part of the process.
Marensa Advisory advises on SFC licence applications with deep knowledge of the SFC's documentary expectations and the practical realities of building a compliance programme that the SFC will approve.
Start the ConversationThe SFC targets a 4-month determination period but most applications take 6–12 months from submission. RO approval is often the critical path. A well-prepared, complete application significantly reduces the timeline.
Non-HK companies can apply for SFC registration as an overseas intermediary for certain licence types. For most asset management and dealing activities, HK incorporation is required. Overseas intermediary status has limitations on HK market activities.
If you manage a fund from HK (i.e., discretionary investment decisions are made in HK), you generally need a Type 9 SFC licence regardless of where the fund is domiciled. Jurisdiction of management is the key test.
VATP is a separate SFC regime for virtual asset exchanges — see our dedicated VATP page. It is not the same as a standard Type 1–9 licence, though some VATP requirements mirror SFC standards.