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Authored by: Lilian Lai
More information required for temporary representative licence applications
In light of the new ‘0+3’ quarantine arrangement, more licensed corporations are reviving their plans to have personnel from their overseas regulated group companies travel to Hong Kong. Recently, we have seen more temporary representative licences being applied for by such overseas individuals to enable them to conduct regulated activities in Hong Kong for a short period of time (not more than three months at one time).
For those who have previously applied for a temporary representative licence and wish to re-apply for one now, the relevant eligibility requirements have not changed. However, you will now have to provide more information in the relevant SFC application form on WINGS than in the previous paper form. For example, you now need to provide details of the activity that you carry on overseas, which, if carried on in Hong Kong, would constitute the carrying on of a regulated activity. You will also need to address any possible conflicts between your role with the overseas group company for which you act (or any other employment you might have) and your proposed role as a temporary representative in Hong Kong.
Applicants should also allow sufficient time for the SFC to process their temporary representative licence applications, to ensure that they obtain SFC approval prior to the date on which they intend to commence carrying on any regulated activity in Hong Kong.
Hotel as residential address
For individual licence applicants who anticipate being stationed in Hong Kong once licensed, you will need to provide the SFC with a permanent Hong Kong residential address as part of the application. If the residential address provided to the SFC in the application is a hotel address, it is likely that the SFC will ask for updates concerning progress in finding a permanent residence, and you will need to provide such address to the SFC once it becomes your residence. Any subsequent change in your residential address will need to be notified to the SFC within seven business days of the change.
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