Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) Chapter 615, only licensed TCSPs are eligible to carry out company secretarial and business services in Hong Kong. The TCSP license is a special type of license issued by the Companies Registry (CR) exclusively for those qualified corporate bodies after fulfilling the prescribed standard of practice and assessment.

Governed by the AMLO, the business relationship between TCSPs and their customers has to be continuously monitored. This includes the regular review of ownership structures, monitoring transactions of customers and identifying transactions that are complex, large and unusual. Under certain circumstances (such as customers not being physically present for identification purposes and other high-risk situations), the AMLO would warrant enhanced due diligence requirements and impose additional measures.

To ensure TCSPs are meeting the compliance standards, the CR conducts regular site inspections, reviews and face-to-face interviews with TCSP licensees.

The TCSP licensing system is in line with international requirements as promulgated by the Financial Action Task Force (FATF). This initiative safeguards the integrity of Hong Kong as an international financial centre and adds confidence and credibility for companies doing business in the City.

As a global leader in the provision of global credit, risk and compliance management services (including professional trust and corporate services), TOTAL was granted a TCSP licence in September 2021. Our highly-experienced team guides companies through every aspect of setting up and running companies with extensive knowledge of local rules and regulations in the region. Leveraging our global network and local expertise, we deliver exceptional client services with a view to building long-term relationships.