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HKMA Proposes Raising Bank Licence Fee 23% to HKD0.75M
2026-06-18 14:33:08 The Government has submitted a proposed resolution to the Legislative Council to adjust various fees under the Banking Ordinance relating to bank licences, the establishment of branches and local representative offices, as well as the registration of approved money brokers. Among them, the bank licence fee, which involves the largest amount, is proposed to increase from HKD610,000 to HKD750,000, representing an increase of nearly 23%. The fee for establishing a local branch of a bank and the annual fee for maintaining a local branch are proposed to rise from HKD29,000 to HKD36,000, up 24%. In addition, the fee for establishing an overseas branch of a bank and the annual fee for maintaining an overseas branch are proposed to increase from HKD58,000 to HKD60,000, up 3%. A government spokesman said that in putting forward the above proposals, the HKMA had considered relevant factors, including overall price inflation, the corresponding fee levels in other jurisdictions, and the operating costs of financial institutions. It had also assessed and taken into account the impact on Hong Kong癒礎s competitiveness as an international financial centre. As total licence fees account for only a small portion of the total operating expenses of authorized institutions and approved money brokers, the impact on affected financial institutions is expected to be minimal and will not affect Hong Kong癒礎s financial competitiveness. Subject to the legislative process, the Government will move the relevant resolution at the Legislative Council on 8 July. (mn/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |