In Hong Kong the payment of annual license fee is abolished

27.03.2012

Since April 1, 2012, according to the statement of Securities and Futures Commission (SFC) of Hong Kong, annual license fee is abolished for two-year term.

The chief executive officer of the Securities and Futures Commission Ashley Alder believes that this measure is intended for relief of burden of standard costs for securities market and futures. On a forecast of the director these two years of release from fee payment will affect favorably on all financial intermediaries on securities and futures. Thus it is possible to expect that the licensed registered corporations will invest in the employees, their training.

However fee paid in connection with new petitions for licensing and license transfer, isn't released from payment of annual license fee. 

Expert’s opinion

«Hong Kong took the positions of financial center long ago and for this reason can allow to licensed companies within two years not to pay the governmental fee. Unequivocally, this measure will only affect favorably on all financial climate of the country».

On the basis: www.sfc.hk

Lomakina Irina ( the director of Moscow office of Honest & Bright )