Type 9 Asset Management License
SFC license for managing crypto investment funds where virtual assets exceed 10% of gross asset value.
Securities and Futures Ordinance, SFC Type 9 Regulated Activity
Capital Required
HKD 5,000,000 paid-up + HKD 3,000,000 liquid capital
Timeline
4-6 months
Fees
HKD 250,000 application + HKD 100,000-150,000 annual
Regulatory Body
Securities and Futures Commission (SFC) / Hong Kong Monetary Authority (HKMA)
Legislative Framework
Securities and Futures Ordinance (SFO), Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), Stablecoins Ordinance 2025
Last updated: August 2025
Key Requirements
Minimum HKD 5,000,000 paid-up share capital and HKD 3,000,000 liquid capital continuously per SFO Type 9
Two Responsible Officers (RO) with Type 9 competency certifications and fund management experience
Detailed fund management policies specifying crypto exposure limits (>10% triggers Type 9), leverage, and valuation
Qualified custodian with SFC license for asset safekeeping and segregation of holdings
Annual independent audits of fund accounts and quarterly investor reporting with NAV valuations
Professional indemnity insurance of minimum HKD 1,000,000-2,000,000 covering fund liabilities
Clear fund prospectus with transparent fee structures, risk disclosures, and performance fee methodologies
Cybersecurity framework meeting SFC Technology Risk Management Guidelines with annual assessments
Application Process
Submit SFC Type 9 Asset Management License application specifying fund strategies and crypto exposure
Provide fund documentation including prospectus, investment policy, and custody/administration agreements
Submit CVs for two Responsible Officers with Type 9 competency certifications and fit-and-proper declarations
Arrange custodian appointment with SFC-licensed institution and submit agreement documentation
Provide detailed fund valuation methodology and crypto asset pricing sources with verification procedures
SFC review and approval following assessment of fund management framework and investor protections
Expected Total Timeline
4-6 months
Ongoing Obligations
After obtaining your Type 9 Asset Management License, these are the continuing compliance requirements you must maintain.
Quarterly fund valuations with investor reporting including asset composition, performance, and fees
Annual independent audit of fund accounts by SFC-approved auditors within 4 months of year-end
Monthly custodian reconciliation statements and quarterly verification of segregation and NAV accuracy
Annual fit-and-proper assessments for both Responsible Officers with mandatory SFC notification
Quarterly compliance certifications regarding investment policy adherence and crypto exposure limits
Annual cybersecurity assessments and documented testing results submitted to SFC per guidelines
Cost Summary
Capital Requirement
HKD 5,000,000 paid-up + HKD 3,000,000 liquid capital
Application & Licensing Fees
HKD 250,000 application + HKD 100,000-150,000 annual
Jurisdiction Setup Cost
$120,000-$350,000
Annual: $100,000-$300,000
Other Hong Kong Licenses
Explore other license types available in Hong Kong.
VATP License
Stablecoin Issuer License
Type 1 Dealing in Securities
Money Service Operator License
Need help with Type 9 Asset Management License?
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