Completing Form 3 for a Hong Kong Money Lenders Licence by a Company

Money Lenders Licence Form 3 for Companies

A company applying for a money lenders licence in Hong Kong must submit Form 3 to the Licensing Court. This form is the primary application document under the Money Lenders Ordinance (Chapter 163). It requires the company to provide detailed corporate information, director particulars and supporting documents. The money lenders licence form 3 is distinct from the individual application Form 2 and must be completed with the company’s official details from its Companies Registry records.

Corporate Information Required on Form 3

Form 3 begins with the company’s legal name as it appears on the certificate of incorporation issued by the Companies Registry. The company must provide its company registration number, the date of incorporation and its registered address. This section also asks for the principal place of business, which may differ from the registered address if the company operates from a separate location. The Licensing Court requires the address where the money lending business will be conducted. This location must be a physical premises. A post office box is not acceptable.

The form also requires the company constitution, meaning the articles of association. The company must confirm that its constitution permits money lending as an activity. If the constitution restricts the company’s objects, the company should provide a copy of any special resolution that amended the objects to allow money lending.

Directors’ Particulars and Fit and Proper Assessment

Every director of the company must be listed on Form 3 with their full name, residential address, and Hong Kong identity card number or passport number. The Money Lenders Ordinance requires the Licensing Court to be satisfied that each director is a fit and proper person to carry on the business of money lending. The form asks for each director’s occupation and any previous money lending experience.

The fit and proper assessment considers whether any director has been convicted of an offence involving dishonesty, bankruptcy, or disqualification from being a director under the Companies Ordinance. If any director has a criminal record or has been involved in an insolvency, the company must declare this on Form 3 and provide an explanation.

Form 3 Money Lenders Application - Supporting Documents

When submitting the form 3 money lenders application, the company must attach the following documents:

• A certified copy of the certificate of incorporation from the Companies Registry.
• A certified copy of the Business Registration Certificate from the Inland Revenue Department, showing the business name under which the money lending will operate.
• The company constitution (memorandum and articles of association).
• Proof of address for the principal place of business, such as a tenancy agreement or a utility bill in the company’s name.
• A copy of the Companies Registry’s current register of directors, or a directors’ list certified by the company secretary.
• Each director’s proof of residential address, typically a utility bill or bank statement dated within the last three months.
• A declaration signed by every director confirming the accuracy of the information provided.

Hong Kong Money Lenders Licence Company Application Requirements

The hong kong money lenders licence company application process requires the company to demonstrate that it has a genuine business presence in Hong Kong. The Licensing Court expects the principal place of business to be a physical office with a reception area, filing systems and evidence of ongoing operations. A company registered as a shelf company with no real business activity may face rejection.

The company must also show that it has adequate financial resources to operate as a money lender. While Form 3 does not ask for detailed financial statements, the Licensing Court may request audited accounts or bank statements during the application process. The company’s directors should be prepared to explain how the company will fund its lending activities.

Company Money Lender Licence Form - Completing the Declaration

The final section of the company money lender licence form contains a statutory declaration. The company secretary or a director authorised by the board must sign this declaration in the presence of a commissioner for oaths or a solicitor. The declaration states that the information provided is true and correct to the best of the company’s knowledge. Making a false statement on Form 3 is an offence under the Money Lenders Ordinance and can result in a fine or imprisonment.

The declaration also confirms that the company will comply with all licensing conditions set by the Licensing Court, including displaying the licence at the place of business and maintaining proper accounts.

How to Fill in Form 3 Money Lenders - Practical Steps

The process for how to fill in form 3 money lenders requires attention to detail. Start by downloading the current version of Form 3 from the Hong Kong judiciary’s website or from the Companies Registry’s office. The form is available in both English and Chinese, and the company may submit it in either language.

Fill in every field. Do not leave blanks; if a question does not apply, write “N/A” or “Not applicable”. The Licensing Court may reject an incomplete application. Ensure that all names match exactly with the company’s statutory records. Any discrepancy between the company registration number on Form 3 and the certificate of incorporation will cause a delay.

Attach all supporting documents in the order listed on the form. Each document should be a clear photocopy or printout; original documents are not required unless requested by the court. Stamp the company’s chop on each page of the form if the company has a common seal.

Submit the completed Form 3 and supporting documents to the Licensing Court at the address specified in the application instructions. The court will issue a receipt and assign an application number. The company must then publish a notice of the application in the Gazette and in a Chinese-language newspaper as required by the Money Lenders Ordinance.

Licensing Conditions After Submission

Once the Licensing Court grants the licence, the company must comply with the licensing conditions stated on the licence itself. These conditions include maintaining the place of business as the principal place of money lending, displaying the licence prominently and keeping records of all loan transactions. The company must notify the Licensing Court of any change in directors, address or company constitution within 14 days.

The Money Lenders Ordinance also requires the company to provide the Licensing Court with an annual return confirming that the company continues to meet the fit and proper criteria. The company should maintain copies of Form 3 and all supporting documents for at least six years after the licence expires.