The Duties and Responsibilities of a Company Director

September 27th, 2021 by

The position of a director within a company is possibly one of the most vital administrative roles of the business.

Your company director’s performance will have a direct effect on how efficiently the business is run.

It’s incredibly important as an owner to ensure that your company director shares the same vision and work ethics you do.

Any positions that influence the workflow and mission statement of the company should also have a solid line of communication with the owner.

Normally, employees with duties like that of a director are the ones who will delegate assignments and duties to the other employees of the company.

It’s important that these higher-ups convey your requests and wishes to the rest of your employees.

These directors are the link between you as an owner and the workforce of your organization.

It’s vital that the director holds his influence as a go-between and does not allow paid employees to break the chain of command.

What Defines a Company Director?

Technically, a company director is an elected or appointed member of your company’s board of directors and supervisors.

The director is tasked with determining and implementing company policy and other defining elements of the company.

Normally, the owner chooses a director in coalition with the board of investors to manage daily activities and finances.

The director will ensure that the appropriate legal filings are taken care of, and the company operates lawfully.

A company director is allowed to enter into legally binding contracts with third parties and other entities in the company’s name.

These parties include buyers, lenders, suppliers, and other vendors tied to the organization.

The director can also make verdicts for the well-being of the company and the companies shareholders.

Directors may also be required to act as trustees for the company they work for as well.

Company Director Specific Roles and Duties

According to the Companies Act of 2006, these are a company director’s specific roles and duties. 

Act Within Designated Powers

A director must follow and comply with company policy.

This includes policy on the employee side and shareholder side. 

1. Promote the Success of the Company

The company director must follow per company’s goals and mission statement.

All actions must have a clear outline and order of operations to ensure the company’s long-term success and scalability.

A director must always keep in mind that:

  • The effects of their decisions are long term
  • They are responsible and must act in the interest of company employees
  • They represent the company when doing business for the company
  • They must maintain a reputation of good conduct and high business standards

2. Make Independent Judgements

They must have the responsibility and accountability to make important decisions and judgments without a superior or owner’s consent or permission. 

3. Exercise Skill, Care, and Diligence

Directors are expected to exercise the same skill, care, and diligence required of all employees.

4. Avoid Conflict of Interest

A director must avoid conflict of interest regardless of whether it would serve to benefit the company.

5. Reject Benefits from Third-Parties

The company director must never accept benefits from third parties.

However, there is no infringement if the benefits accepted do not cause a conflict of interest. 

6. Declare Interests in Proposals, Transactions, and Arrangements With the Company

A director must declare the extent of any interest, transaction, or arrangement with the company to the rest of the company directors and supervisors. 

Who Can Become a Company Director

There are certain limitations and requirements for filling the role of a company director.

The following positions and entities are eligible for this position.

  • An individual who is a shareholder or recent employee such as a secretary
  • A corporate body
  • A partnership
  • A group
  • Another limited company
  • An organization, whether it’s a business or charity

Who Can’t Become a Company Director

  • An auditor
  • A banned employee or company director
  • Anyone under the age of 16

Company Director vs. Shareholder?

A shareholder is any member of the board of shareholders who owns part or all of a company.

A shareholder does not have to be employed by the company.

Typically a company director is chosen by a board of shareholders.

The shareholders appoint the director to supervise every financial aspect of a company to ensure it runs smoothly.

Directors do this in conjunction with running the operational aspects of the company.

Together, these two duties must be met to ensure the smooth and profitable operation of a company.

The performance of the company director will directly affect the financial gains or losses for the shareholders.

Are Corporate Director and Company Director the Same?

No, a corporate director and a company director are completely different.

A company director is appointed by shareholders (normally individuals, but not always) to manage a limited company’s operational and financial duties directly.

A corporate director describes a company or corporate body that has been appointed the director of another company.

There is no limit to the number of corporate directors a company can have.

The company director can simultaneously be a shareholder of a company but doesn’t always have to be.

However, shareholders will always look to the company director to ensure their interests are paying off.

A company director has a large workload to shoulder and must manage every vital element of a company on a daily basis.

It takes a strong leader and personality to be a company director.

Still, with the proper delegation, the job can be handled efficiently and without overload.

Interested in becoming a director yourself?

Register your business in Hong Kong with Air Corporate and we’ll help you dot the I’s and cross the T’s so you can become a company director in mere hours.

Top 10 Hong Kong Crypto Exchanges

September 15th, 2021 by

Cryptocurrency is a digital currency secured by cryptography which makes it almost impossible to counterfeit.

They are decentralized networks based on blockchain technology which is a distributed ledger enforced by a separate network of computers.

What sets cryptocurrency apart from the traditional currency is that it is virtual and that it is not issued by any government authority.

Of course, we have heard that this is a decentralized currency in terms of its issuance, but trading of crypto is still traditionally done so on exchanges just like Forex or stock market exchanges.

Also, we recommend reading up on the legality of Crypto in Hong Kong, as things begin to get a little dystopian for Crypto traders around the world.

Top Hong Kong Crypto Exchanges

  1. Bitmex
  2. Coinmama
  4. Paybis
  5. BTCC
  6. OKCoin
  7. Huobi
  8. Wirex
  10. Binance

What are crypto exchanges?

A crypto exchange is a virtual marketplace where cryptocurrency can be bought or sold.

This online platform functions as an intermediary for cryptocurrency buyers and sellers.

Here, you can deposit money via bank transfer, wire, or any other authorized means of deposit.

However, this service has a price attached to it and you will often have to pay for it.

1. Bitmex

Bitmex is a peer-to-peer cryptocurrency trading platform created in 2014 that is registered in Seychelles but operates in Hong Kong and the US.

Bitmex is particularly focused on cryptocurrency derivatives trading which includes margin and futures trading.

Due to this focus, Bitmex is better suited for experienced traders instead of beginners who wish to trade with lower volumes of cryptocurrency

Some of the benefits of trading with Bitmex are its increased security levels and reduced red tape with no identity documents requested.

The trading fee is also quite low along with there being no deposit or withdrawal fee either.

Currencies Supported

  • Bitcoin (BTC)
  • Bitcoin derivatives

2. Coinmama

Coinmama is an online crypto exchange based in Slovakia.

Since launching in 2013, Coinmama has amassed a total of 2,300,000 users across 197 countries.

Payments can be made on Coinmama through Apple Pay, SEPA, SWIFT, Fedwire, and Faster Payments.

The different cryptocurrencies supported on this platform include Bitcoin, Cardano, EOS, Bitcoin Cash, Etherum, Ethereum Classic, Qtum, Tezos, and Litecoin.

What makes Coinmama unique is that it has one of the highest daily spending limits compared to all other crypto exchanges.

Other attractive features include instant cryptocurrency delivery upon payment, multiple payment options, and its rewarding affiliate program.

Supported Cryptocurrencies

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Litecoin (LTC)
  • Tezos (XTZ)
  • Ripple (XRP)
  • Dogecoin (DOGE)
  • Chainlink (LINK)
  • Uniswap (UNI)


CEX.IO first began as a cloud mining services provider and has now expanded into a multi-functional cryptocurrency exchange platform.

Through CEX.IO, you can also buy and sell cryptocurrencies on a web trading portal or a mobile application.

What makes CEX.IO unique is that you can hold several different account types enabling traders to choose which cryptocurrency best matches them.

The platform is available for use in more than 220 countries.

However, due to certain regulations, traders based in the US are not accepted onto the platform.

Currently, CEX.IO supports DASH, Bitcoin Gold, Bitcoin Cash, ETH, ZEC, and BTC along with a number of fiat currencies.

The platform has a number of security features that protect users and eliminates any fear of hacking and theft.

These measures include two-factor authentication, encrypted data, cold storage for cryptocurrency funds, and internal AML/KYC policy and procedures.

Supported Cryptocurrencies

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Stellar (XLM)
  • Gemini Dollar (GUSD)
  • Cardano (ADA)
  • USD Coin (USDC)
  • Basic Attention Token (BAT)
  • Tezos (XTZ)
  • Matic (MATIC)
  • Chainlink (LINK)
  • 0x (ZRX)
  • Uniswap (UNI)
  • Wrapped Bitcoin (WBTC)
  • Dogecoin (DOGE)

4. Paybis

Paybis is a multi-cryptocurrency exchange that provides multiple services which include the buying and selling of cryptocurrencies and also providing liquidity services within the fintech sector.

Currently, Paybis supports 47 different fiat currencies and 10 different cryptocurrencies that include Binance Coin, Ethereum, Litecoin, Ripple’s XRP, Stellar, Tron, Bitcoin, Bitcoin Cash, and USD Tether.

Due to its significant global reach and international customer base, the platform is also available in 9 languages, making it extremely accessible and easy to use.

The benefits of using Paybis are that it has excellent customer ratings as it is KYC and AML compliant and is regulated by financial authorities in the UK, EU, and the U.S.

Additionally, Paybis is known to have a transparent fee structure with no hidden fees, extremely responsive customer support services, and a simple registration process.

Supported Cryptocurrencies

  • Binance Coin (BNB)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • NEO (NEO)
  • Ripple’s XRP (XRP)
  • Stellar (XLM)
  • Tron (TRX)
  • USD Tether (USDT)


BTCC is a UK-based platform that was established in 2011.

BTCC offers multiple services which include fiat/crypto exchange, bitcoin mining services, and bitcoin wallet provision.

You can also access the services BTCC offers through a web-based platform and a mobile trading platform which gives you the choice to decide what to use depending on your preference, usage, and technological familiarity.

Moreover, to make the platform secure, there is two-factor authentication due to the unlimited crypto deposits offered without KYC.

There is also a mining pool for traders to mine their own coins for a rental fee.

Supported Cryptocurrencies

  • Bitcoin (BTC)

6. OKCoin

OkCoin is one of the biggest crypto exchanges in the world by volume.

The platform is based in Beijing and was founded in 2013.

While the platform accepts traders from all over the world, OkCoin is primarily suited for users in China and the rest of the Asian market.

Despite not being regulated by a financial regulatory authority, the platform has built a strong reputation amongst users by gaining their confidence and trust.

OkCoin is embedded with the latest security and encryption protocols to ensure every trade is safe and secure.

Moreover, the fees are low compared to other platforms and users can also trade on margin and in futures markets.

While fiat currency deposits and withdrawals can be made, verification is required and only a limited number of cryptocurrencies are available to trade with.

Supported Cryptocurrencies

  • Bitcoin
  • Litecoin
  • Ethereum
  • Ethereum Classic
  • Bitcoin Cash

7. Huobi

Huobi is a self-proclaimed digital asset exchange as opposed to a crypto exchange.

Originally based in Beijing, Huobi had to move to Singapore as fiat to cryptocurrency trading was banned in China.

Huobi also has offices in Hong Kong, the USA, and South Korea. 

The platform is popular due to it being extremely technologically advanced with its price feeds, charting, cryptocurrency profiles, and in-depth market data.

Users have described the platform as a perfect balance between functionality for experienced traders and accessibility for new traders.

Huobi also has over 100 cryptocurrencies on its main exchange.

What makes Huobi unique from other exchange platforms is its ‘Smartchain’ research and analysis feature which provides insight into different blockchain assets.

The only negative side is that as of now, the registration process for users outside of China, Hong Kong, and Singapore is slightly more complicated.

Supported Cryptocurrencies

  • Bitcoin (BTC)
  • Ethereum (ETH)

8. Wirex

Wirex is an innovative app that allows digital and traditional currencies to be easily sent, received, and exchanged.

You can make payments through the Wirex App, their payment card, and e-wallet which transactions for digital and traditional currencies.

Currently, Wirex supports 16 fiat currencies and 9 different cryptocurrencies which include Bitcoin, Dai, Ethereum, Nano, Stellar’s Lumen, Waves, Litecoin, and Wirex Token. 

The benefits of using Wirex as a crypto exchange are that the registration and verification process is extremely quick and easy and can be done in just a couple of minutes.

Unlike some crypto exchanges, Wirex supports both cryptocurrency and fiat money which is a huge bonus for people who use both who want to make their transactions all in one place.

Lastly, it is an easy-to-use platform that is regulated and licensed with a global reach of 130 countries.

Supported Cryptocurrencies

  • BTC
  • ETH
  • LTC
  • XRP
  • XLM
  • WXT
  • DAI
  • NANO
  • LINK
  • MKR
  • AAVE
  • YFI
  • UNI
  • UMA
  • OMG
  • BAT
  • ZRX
  • SNX
  • FTT
  • COMP
  • REP
  • BNT
  • BAL
  • 1INCH

9. is a crypto exchange that supports the buying and selling of over 70 cryptocurrencies.

Launched in 2016 and based in Hong Kong, the platform provides users access to the most popular cryptos in the industry which include Bitcoin, Cardano, Ethereum Bitcoin Cash, Ripple, Stellar, Litecoin, Tether, and USD Coin.

Moreover, you can also trade in lesser-known cryptocurrencies such as COSMOS, Enjin Coin, and VeChain if you are looking to invest.

The platform is extremely user-friendly and is insured for $350m which protects customers from physical damage or any third-party theft.

Moreover, the platform places huge importance on security and ensuring that all trades are carried out safely.

Supported Cryptocurrencies

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Coin (CRO)
  • Enjin Coin (ENJ)
  • Basic Attention Token (BAT)
  • Paxos Standard (PAX)
  • USD Coin (USDC)
  • OmiseGO (OMG)
  • Kyber Network (KNC)
  • 0x (ZRX)
  • Chainlink (LINK)
  • Origin (OGN)
  • Algorand (ALGO)
  • Elrond (eGLD)
  • Band Protocol (BAND)
  • Filecoin (FIL)
  • Polkadot (DOT)
  • Balancer (BAL)
  • Dogecoin (DOGE)
  • Universal Market Access (UMA)
  • Wrapped Bitcoin (WBTC)
  • Uniswap (UNI)
  • Yearn Finance (YFI)
  • Bancor (BNT)
  • Curve (CRV)
  • Loopring Price Chart (LRC)
  • Polygon (MATIC)
  • Ontology Gas (ONG)
  • Ethereum Classic (ETC)
  • Waves (WAVES)
  • Harmony (ONE)
  • Dash (DASH)
  • Ravencoin (RVN)
  • Komodo (KMD)
  • Ark (ARK)
  • Ardor (ARDR)
  • Stratis (STRAX)
  • Nano (NANO)
  • Lisk (LSK)
  • Golem (GLM)
  • Ontology (ONT)
  • Qtum (QTUM)
  • Icon (ICX)
  • Neo (NEO)
  • Stellar Lumens (XLM)
  • Cardano (ADA)
  • Bitcoin Cash (BCH)
  • VeChain (VET)
  • Tezos (XTZ)
  • Cosmos (ATOM)
  • EOS (EOS)
  • Maker (MKR)
  • Dai (DAI)
  • Decentraland (MANA)
  • (FET)
  • Celer (CELR)
  • BinanceCoin (BNB)
  • The Graph (GRT)
  • Compound (COMP)
  • Synthetix (SNX)
  • Numerai (NMR)
  • Sushi (SUSHI)
  • New Kind of Network (NKN)
  • Rune (RUNE)
  • Ampleforth (FORTH)
  • 1inch (1INCH)
  • The Sandbox (SAND)
  • Axie (AXS)
  • Venus (XVS)
  • BakeryToken (BAKE)
  • Rarible (RARI)
  • PancakeSwap (CAKE)
  • Internet Computer (ICP)
  • DigiByte (DGB)
  • Ellipsis (EPS)
  • Mirror (MIR)
  • Tellor (TRB)
  • Chia Network (XCH)
  • Binance USD (BUSD)
  • Gemini dollar (GUSD)
  • Audius (AUDIO)
  • Everipedia (IQ)
  • Cartesi (CTSI)
  • iExec RLC (RLC)
  • Injective Protocol (INJ)
  • Terra (LUNA)
  • Siacoin (SC)
  • Gitcoin (GTC)
  • Aave (AAVE)
  • Ankr (ANKR)
  • Avalanche (AVAX)
  • Bluzelle (BLZ)
  • Nervos Network (CKB)
  • Contentos (COS)
  • Aelf (ELF)
  • Fantom (FTM)
  • Gas (GAS)
  • IRISnet (IRIS)
  • Kava (KAVA)
  • Kusama (KSM)
  • Ren Protocol (REN)
  • Storj (STORJ)
  • Theta Fuel (TFUEL)
  • Tether (USDT)
  • VeThor Token (VTHO)
  • Zilliqa (ZIL)
  • Chiliz (CHZ)
  • Solana (SOL)
  • Livepeer (LPT)
  • Amp (AMP)
  • Enzyme (MLN)
  • Helium (HNT)

10. Binance

Binance is known as one of the fastest platforms to trade cryptocurrencies in the market and is also one of the largest crypto exchanges in terms of the trading volume.

The platform is quite popular both for investors and traders as access is provided to over 30 cryptocurrencies.

Not only does this give investors flexibility but it makes it easier to enter the market.

All investors and traders can make payments through bank deposits, credit or debit cards, bank transfers, or third-party payments via Banxa and Simplex. 

There is also 24/7 customer support available along with a Learn Centre for new traders.

A popular aspect of Binance is their Affiliate Program where for every new user referred to the platform, the referrer will earn a commission anytime the new user trades on Binance.

Supported Cryptocurrencies

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • PAX Gold (PAXG)
  • Harmony (ONE)
  • Orchid (OXT)
  • Helium (HNT)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Stellar (XLM)
  • Tether (USDT)

Final words

Cryptocurrency and digital assets are becoming extremely popular which are why you need to stay ahead of the game and understand which crypto exchange is the best for you!

Are you looking to get your business involved with cryptocurrencies in Hong Kong?

It’s important to be aware of all the licensing and registration requirements that you need to deal in crypto as a business in Hong Kong.

To make sure you can navigate these MSO licenses you need, it’s important to make sure you have a company secretary who can walk you through them.

Register your business or change your company secretary to Air Corporate, and we’ll help you get all the licensing and registration you need to deal with crypto at your business.

How to Get a Money Services Operations (MSO) Licence in Hong Kong

September 7th, 2021 by

The first thing we need to understand before digging deep into the Money Service Operation license (MSO) is the general money service in Hong Kong.

In Hong Kong, the system of money service incorporates a money-changing service and remittance service.

The money-changing service creates an exchange of currency systems that run as businesses in Hong Kong.

On the other hand, the remittance service operates by sending money abroad to places outside Hong Kong.

It also arranges for the receiving of money from abroad.

However, to operate this money service, one must obtain an MSO license.

The Customs and Excise Department (C&ED) of Hong Kong normally deals with granting the license. 

MSO License Exemptions

Any person who has any interest in money service and wishes to operate in money service is required to obtain a license before operating a money service.

The Anti‐Money Laundering and Counter‐Terrorist Financing Ordinance (AMLO) also clarifies bodies exempt from a license.

Other than the government itself, the following bodies are also exempt: 

  • (a) an authorized institution
  • a licensed corporation that operates a money service that is ancillary to the corporation’s principal business
  • an authorized insurer that operates a money service that is ancillary to the insurer’s principalbusiness
  • an authorized insurance broker that operates a money service that is ancillary to the broker’s principal business
  • an appointed insurance agent that operates a money service that is ancillary to the agent’s principal business
  • an SVF licensee that operates a money service that is ancillary to the licensee’s principal business
  • a system operator or settlement institution of a designated retail payment system that operates a money service that is ancillary to its business as a system operator or settlement institution.

You can find the full list here.

The Importance of an MSO License

Hong Kong is one of the leading prospective countries for starting and owning/operating a business.

This is why the majority of global businesses have their host firms in Hong Kong.

Several factors make it even more appealing to operate in Hong Kong, which includes:

  • Low tax regime;
  • Easy and quick company registration; 
  • Free economy; 
  • A strategic entrance to mainland China markets;
  • A logistics hub for expansion across all of Asia; 
  • A business-friendly cosmopolitan. 

These are just some of the benefits that come along, making Hong Kong one of the leading centers in Asia.

Money needs to come and go.

Therefore an MSO license makes the operation easier, time-efficient, legal, and convenient.

There are not many requirements for obtaining the license and compared to other countries such as Canada, obtaining it is much easier.

To obtain a license in Canada, at least one director must have a Canadian residency or a work permit, whereas, in Hong Kong, it is not a requirement to have a local director. 

Eligibility requirements

According to the AMLO, an MSO license can be granted by the Commissioner of Customs and Excise to any applicant as long as the following conditions are met:

  • If the applicant is an individual, each individual and the ultimate owner must be a fit and proper person to operate a money service.
  • If the applicant is a business partnership, each partner and ultimate owner of the partnership must be a fit and proper person to operate a money service
  • If the applicant is a corporation, each director and ultimate owner of the corporation must be a fit and proper person to be affiliated with the business and to operate a money service.

All applicants of the MSO License must complete a Form of Fit and Proper Person Declaration.

The applicants must submit this form along with all other supporting documents to the Customs and Excise Department in Hong Kong.

Key stages of the application process

The key stages of the application process are as follows:

  1. Completion of the application form
  2. Completion of the relevant annexures
  3. Submission of documents
  4. Completed application being sent to the Customs and Excise Department
  5. Aknowledgement of the application being received by the Customs and Excise Department
  6. Notice sent for any other required documents to assist the application
  7. Notice sent for the interview and payment of fees
  8. Signing the MSO License application

The application process explained

The Application Process for the license will firstly require the completion of the application form, supplementary information sheet, and relevant annexures.

The applicant should also submit an (i) Business Plan; and (ii) AML/CFT (anti‐money laundering and counter‐terrorist financing policies (hereafter referred to as “AML Policy”).

More information regarding a Business Plan and AML Policy can be found here.

Once the applicant has prepared the requisite information, they must submit them with photocopies of the documents to the (C&ED).

The applicant can access the form sheet, annex, and guidelines for submitting the business plan and AML policy from the C&ED’s website here.

If the application is for a new premise to operate a money service, it is important to note that the applicant must attach two or more photographs of the inner and outer part of the office/premise.

If the applicant also has another separate premise used as a local place for storage (LPS), two or more photographs of the area must be attached.

When the applicant has failed to submit the required information or documents, the application will not be processed by the C&ED.

Nevertheless, if it has been successfully processed, the applicant will be asked for an interview through notice.

The applicant will also receive a demand note for the payment of all required fees for the license.

Whilst being interviewed, the payments and original documents will be verified.

The applicant will go through a fit and proper person test, which is relevant in determining whether the applicant is fit to operate the money service business.

The applicant shall then sign the application and will be briefed on statutory licensing and compliance requirements.

It isn’t easy, however, to set a fixed time frame for the application process.

The process may take longer or shorter depending on multiple factors such as the collection of documents, performing the fit and proper test, etc.

How long is an MSO License valid in Hong Kong?

In most cases, an MSO license is valid for a period of two years in Hong Kong after which the license has to be renewed.

All applicants who wish to continue operating their money service must apply for a renewal before the expiry date of their existing license. 

However, there are certain cases where an MSO license cannot be renewed:

  1. If the applicant is an individual, the license ceases to be valid in the case of the death of the applicant.
  2. If the applicant is a partnership, the license ceases to be valid if the partnership is dissolved.
  3. If the licensee is a corporation, the license ceases to be valid if the corporation is wound up.

What happens if you don’t get an MSO license?

According to Section 29(1) of AMLO, it is a direct offense if an individual, partnership or corporation operates a money service without the appropriate license in Hong Kong.

Anyone who commits such an offense can be imprisoned for up to 6 months and be fined HK$100,000.

Can your application for an MSO license get rejected?

The Commissioner of Customs and Excise can refuse to grant an MSO license in the following cases:

  • If the applicant fails to satisfy the fit and proper person test.
  • If the premises used for the business are not suitable to operate a money service.
  • If the application failed to provide information of a local management office and a local place of business for storage of books and records.
  • If the application failed to provide information regarding the AML/CFT Policy and Business Plan.
  • If the application is invalid or incomplete.

Can you appeal a rejection?

You can file an appeal against the Commissioner of Customs and Excise decision to the Anti-Money Laundering and Counter-Terrorist Financing Review Tribunal within 21 days of receiving the notice of rejection following an application for an MSO license. 

You should also keep in mind that if your application is rejected, the fees cannot be refunded which is why you need to ensure that your first application is fully completed and that there is no missing information or documents.

After receiving a valid MSO license

Once you receive your license there are certain requirements you must follow set out by the Anti-Money Laundering and Counter-Terrorist Financing Ordinance along with any other guidelines provided by the Commissioner of Customs and Excise.

These requirements include:

  • Maintaining and developing an effective CFT/AML Policy to reduce Money Laundering and Terrorist Financing risks
  • Ensuring that the individual, directors, partners, and all ultimate owners of the MSO License are fit and proper at all times and not just at the time of the application.
  • Reporting all suspicious transactions
  • Displaying the original form of the MSO License in a noticeable place at the specified premises

Final Words

Obtaining an MSO License is extremely important for anyone or any entity wishing to operate a money service.

The number one benefit of obtaining an MSO License in Hong Kong is that the country is one of the leading financial hubs in Asia and the rest of the world.

The process is extremely straightforward and quite fast compared to other licensing procedures.

Need help applying for an MSO license?

Reach out to Air Corporate at [email protected] and we’ll help your business get properly licensed asap.

Advantages to Registering a Company in Seychelles

September 2nd, 2021 by

Seychelles is a cluster of islands northeast of Madagascar in the Indian Ocean that is rapidly becoming one of the financial hubs of Africa.

Its economy has grown by leaps and bounds in the last twenty years, and it seems well-positioned to continue to do so.

Part of that growth is a result of conscious and effective efforts by the government to encourage foreign investment.

In particular, Seychelle’s strong privacy laws, territorial tax system, logistically simple laws involving registration and incorporation, and a variety of other factors have resulted in Seychelles becoming an increasingly popular country for companies to incorporate in.

Today, we’ll review the advantages of starting a company in Seychelles.

Shhh – It’s a Secret

Seychelles takes its privacy laws very seriously.

Corporate privacy is protected by law; the public has virtually no right to know anything about your company other than its original director.

Obviously, if you were so inclined, the director could be a figurehead in place for a single day or even hours – just long enough to satisfy these legal requirements.

These privacy laws are not limited to sheltering companies from invasive citizens and the press, either.

Seychelles generally lacks the infrastructure to share corporate data with foreign companies because it doesn’t keep records of this information.

In essence, without a colossal effort, it couldn’t share additional information even if it wanted to.

While there are legitimate reasons to have such information in the public domain, there are also perfectly understandable reasons not to.

For example, if the owner of a company is publicly unpopular for reasons unrelated to his business, there is no particular reason that he should expose his company and minority shareholders to risk by informing the public of his affiliation.

A Territorial Tax System

This tax term sounds more complicated than it is.

In essence, a territorial tax system is one where the host country doesn’t tax you on profits that you make elsewhere.

For example, if you start or incorporate your company in Seychelles, you don’t have to worry about being taxed on profits that you make in the United States or Europe (by Seychelles; the U.S. and Europe have their own tax codes).

There are also virtually no capital gains or interest taxes which can make life simpler (and more profitable) in a variety of ways.

Logistically Simple

Anyone looking at starting a business should be aware that doing so can involve a lot of red tape.

In China, for example, the government has established so much red tape that foreign companies have little choice but to partner with a local Chinese company and share their technology, trade secrets, and profits.

While this makes sense for the Chinese economic growth model, Seychelles actually takes the opposite approach.

The amount of red tape and government requirements to start a company are very limited.

A single person can start a company and serve as both the director and shareholder.

In fact, the government of Seychelles created the Seychelles International Business Authority (SIBA) specifically to facilitate offshoring and other international business needs.

Additionally, English is one of the official languages which makes it easier for Americans and Europeans to operate.

A key aspect of logistics is infrastructure, and despite its size, Seychelles excels in this area.

It has fiber optic cables connecting it to Eastern Africa, and its public utilities are top-notch.

It’s also located in a logistically ideal time zone (GMT+4), and it has a variety of double-taxation avoidance treaties.

Modern Africa

A common concern when looking to invest or operate within Africa are regarding the quality of its infrastructure and its political and economic stability.

None of these are particularly valid concerns when it comes to Seychelles.

Seychelles boast modern banking facilities, political and economic stability, internet banking, etcetera.

Although you’re required to have at least one Seychelles bank account, you don’t have to open this account in person.

This isn’t a temporary pandemic-related rule, either – this is the norm in Seychelle.

Additionally, the government provides a surprising amount of business support, and local legal, tax and logistics firms are relatively inexpensive to hire.

Although the population of Seychelles is small, Seychelles enjoys the highest per capita gross domestic product (GDP) in Africa at over $17,000 per capita.

For comparison, that’s slightly higher than the per capita GDP of Hungary and only slightly lower than that of Greece.

If you’re looking to break into the African market but are averse to political and economic risk, Seychelles is a great place to look into.

Location, Location, Location

Part of Seychelles’ success is due to its location; it’s ideally situated to have access to Europe, Africa, and Asia.

Of course, this means that it’s relatively far away from North and South America – but you can’t be everywhere at once.

On top of that, Seychelles is gorgeous.

It’s actually a popular tourist destination, and that popularity is growing.

Additionally, Seychelles is not considered to be in the threat zone for cyclones or other major natural disasters.

About half of the area of Seychelles has been designated as one form of a national park or another and it’s home to a variety of rare and unique species.

It’s worth noting that although the waters of Seychelles are beautiful, they can be extremely windy.

In Short

In conclusion, there are plenty of reasons to start your company in Seychelle.

Even if you’ve already started your company, it may make sense to consider incorporating it in Seychelle.

From favorable privacy laws to an ideal location to logistics, Seychelles is a great place to start, register, or incorporate a business.

Is Seychelles too far-flung for your business needs? Millions of businesses are instead registering in Hong Kong because of the exact same freedoms of Seychelles, but with a more digital-friendly approach.

Register your business in Hong Kong today with Air Corporate and you’ll get approved in under 48 hours for just $90.

Five Reasons Why Companies Register in Malta

September 1st, 2021 by

Malta is a tiny island nation in the Mediterranean.

It’s got a small economy and, according to The Tax Foundation, the highest statutory corporate tax rate in Europe.

So why is it becoming an increasingly popular spot for business registration?

There are actually quite a few reasons, but we’ll focus on the top five.

First, the statutory corporate tax rate is somewhat misleading; we’ll show you how it’s possible to pay between 0% and 10% taxes.

It is also cheap and easy to incorporate, inexpensive and profitable to incorporate in, part of the European Union, has low capital gains taxes, and has a variety of double-taxation prevention treaties.

1. The Real Tax Rate

The actual tax rate in Malta can be as low as 0% – but it’s complicated.

A shareholder can be reimbursed for 70%-100% of the corporate taxes paid depending on what type of company it is.

The result is that most businesses have an effective tax rate of 10% or less.

If you’re going to do business in the European Union, you’re going to have to set up shop somewhere.

Malta is part of the EU and has full access to the Eurozone.

Malta is a great choice for the aforementioned tax purposes – you’ll get your foot in the door of one of the biggest trading blocs in the world and save money on taxes at the same time.

2. Incorporation

Registering in Malta will help keep your Eurozone taxes low… but you’ll still have to pay taxes in your host country.

The solution?

Just make Malta your home country by incorporating your business there along with registering it.

After all, it’s been a part of the European Union since 2004, so it gives full access to the Eurozone.

Incorporation allows companies to avoid the relatively high tax rates of their host countries while losing few if any benefits.

Additionally, incorporation in Malta is cheap and easy.

The Maltese government has ensured that it’s an attractive option for companies to incorporate.

After all, receiving low taxes is better than receiving no taxes, and even if there are virtually no corporate taxes, run-of-the-mill employees will still be taxed and in general, more business is good for business.

3. The People and Economic Infrastructure

Malta has a well-educated supply of English speakers; English is actually one of the national languages of Malta, and about 88% of Maltese people can speak it.

The majority of Maltese people can also speak Italian.

These advantages are obvious; some are more subtle. Aside from solid education, the Maltese people share common western values.

Banking is easy and efficient, foreign cash flow is largely unrestricted compared to in the U.S., Malta is in the Central European Time Zone which is logistically convenient, and its banking and economic services are top-notch.

There are also very favorable logistical and legal frameworks for foreign investments; the Maltese government wants you there.

Many of these advantages are relatively intangible and they certainly aren’t the first things you look for when debating where to incorporate, but they really do add up.

One final note – these laws are all above-board, and Malta is a reputable destination.

There is little economic and political turmoil in Malta that could threaten the prosperity of a typical company, and their stability is backed by the economic and legal clout of the Eurozone.

4. Capital Gains Taxes

Malta technically doesn’t have any capital gains tax, per see.

Instead, there’s a 12% fee exacted from the sale of a given asset.

12% is very reasonable compared to many other countries, including a handful of global financial hubs like the United States, and there are a wide variety of tax breaks and loopholes that can be utilized as well.

5. Tax Treaties

Malta has a wide variety of treaties (over 40) with various governments and entities that help shield companies operating from within Malta from double taxation.

For example, in many cases, host companies tax profits that you make abroad.

If you make $100 million in global profits, that money could be taxed in your host country… and in the countries where you made the profit.

Needless to say, being taxed twice on the same profits isn’t good for a company’s bottom line, but Maltese treaties can help you avoid that scenario.

In Short

Companies incorporated in Malta for a reason.

Remember that registration is necessary for any company intending to operate in Malta.

As always, consult legal and tax professionals before making any decisions about the best way to meet your corporate needs

In this case, there are actually quite a few legal and tax professionals available for consultation in Malta that actually specialize in advising corporate clients on things like this.

This can make a relatively painless process even simpler.

Whether you’re looking to break into the European market, looking for tax breaks through incorporation, trying to dodge double-taxation, or just looking for a logistically sound headquarters, Malta has a lot to offer.

Business aside, Malta is also a gorgeous country and a wonderful place to live!

Looking for a more connected city with all the greatest aspects of a Maltese registered entity?

Consider registering in Hong Kong instead and plug in your business to the financial world