Type 1 Licence for Dealing in Securities (Hong Kong)
The Type 1 Licence for Dealing in Securities is issued by Securities and Futures Commission (SFC) under Securities and Futures Ordinance (Cap. 571). The legal decision period is 15 weeks from submission of a complete corporate application. The application fee is HKD 4,740. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Type 1 Licence for Dealing in Securities1 |
|---|---|
| Also known as | SFC Type 1 licence · Type 1 licence (Hong Kong) · Hong Kong securities dealing licence · SFC securities brokerage licence |
| Issued by | Securities and Futures Commission |
| Jurisdiction | Hong Kong |
| Licence family | Investment firm / broker-dealer |
| Legal basis | Securities and Futures Ordinance (Cap. 571)2 Securities and Futures (Fees) Rules (Cap. 571AF)3 Securities and Futures (Financial Resources) Rules (Cap. 571N)4 |
| Passporting | Domestic only |
| Application fee | HKD 4,7405 |
| Annual fee | HKD 4,7406 |
| Statutory decision time | 15 weeks from submission of a complete corporate application7 |
What it lets you do
| Reception and transmission of orders | Receiving client orders in financial instruments and passing them to another firm for execution. |
|---|---|
| Execution of orders on behalf of clients | Concluding agreements to buy or sell financial instruments on behalf of clients. |
| Dealing on own account | Trading financial instruments against proprietary capital, which includes acting as counterparty to client trades. |
Where it is valid
Cost
How long it takes
Statutory: 15 weeks from submission of a complete corporate application7. Observed: SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)5. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior approval required. Under Section 132 of the Securities and Futures Ordinance (SFO), prior approval from the SFC is mandatory before any person can become or continue to be a substantial shareholder of a licensed corporation. Under Schedule 1 Part 1 Section 6, a substantial shareholder threshold is 10% or more of issued shares, 10% or more of voting power at general meetings, or control of 35% or more of voting rights in a holding entity. If acquired without prior knowledge, application must be made within 3 business days of becoming aware. An application fee of HKD 3,000 applies via Form 7 on WINGS-LIC, and approvals are valid for 6 months.5
IF in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Principal (Category 2) | FSRA | n/a | USD 40,000 | n/a |
| Abu Dhabi Global Market (ADGM) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A) | FSRA | n/a | n/a | n/a |
| Abu Dhabi Global Market (ADGM) | Investment firm licenceFinancial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4) | FSRA | n/a | n/a | n/a |
| Australia | Australian financial services licence (AFSL) | ASIC | n/a | n/a | n/a |
| Bermuda | Investment Business LicenceInvestment Business Licence (standard licence, under the Investment Business Act 2003) | BMA | n/a | n/a | n/a |
| British Virgin Islands | Investment Business LicenceInvestment Business Licence (Categories 1-4: dealing, managing, advising, custody/administration of investments) | BVI FSC | n/a | n/a | n/a |
| Cayman Islands | Securities Investment Business Licence / Registered Person | CIMA | n/a | n/a | n/a |
| Cyprus | Cyprus Investment Firm (CIF) authorisation | CySEC | n/a | EUR 7,000 | ~6 mo |
| Czech Republic | Investment Firm licence | CNB | n/a | CZK 20,000 | ~6 mo |
| Dubai International Financial Centre (DIFC) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Principal (Category 2) | DFSA | n/a | USD 40,000 | n/a |
| Dubai International Financial Centre (DIFC) | Investment firm licenceFinancial Services Permission for Dealing in Investments as Agent or Operating an Alternative Trading System (Category 3A) | DFSA | n/a | USD 25,000 | n/a |
| Dubai International Financial Centre (DIFC) | Investment firm licenceFinancial Services Permission for Advising on Financial Products or Arranging Deals in Investments (Category 4) | DFSA | n/a | USD 15,000 | n/a |
| Estonia | Authorisation as an investment firm | FI | n/a | EUR 3,000 | ~2 mo |
| France | Financial investment adviser status | AMF | n/a | n/a | n/a |
| Germany | Investment firm licence | BaFin | n/a | EUR 6,336 | ~6 mo |
| Hong Kong | Type 1 Licence for Dealing in Securities | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 2 Licence for Dealing in Futures Contracts | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 4 Licence for Advising on Securities | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 6 Licence for Advising on Corporate Finance | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Hong Kong | Type 7 Licence for Providing Automated Trading Services | SFC | n/a | HKD 4,740 | ~3.5 mo |
| Ireland | Investment Firm Authorisation (MiFID II) | CBI | n/a | n/a | n/a |
| Italy | Investment firm licence (SIM) | CONSOB | n/a | n/a | ~6 mo |
| Latvia | Investment firm licence | LB | n/a | n/a | n/a |
| Lithuania | Financial brokerage firm licence | LB | n/a | n/a | n/a |
| Luxembourg | Investment firm authorisation | CSSF | n/a | EUR 50,000 | ~6 mo |
| Malaysia (Labuan) | Securities Licensee licenceSecurities Licensee licence (dealing in / advising on securities) | Labuan FSA | n/a | n/a | n/a |
| Malta | Investment services licence (Category 1, 2, or 3) | MFSA | n/a | EUR 7,250 | ~6 mo |
| Mauritius | Investment Adviser Licence | FSC | n/a | n/a | n/a |
| Mauritius | Investment Dealer Licence | FSC | n/a | USD 500 | ~0.5 mo |
| Netherlands | Investment firm licenceInvestment firm licence (Vergunning beleggingsonderneming) under Wft Article 2:96 and MiFID II | AFM | n/a | EUR 200 | ~3 mo |
| Poland | Brokerage House licence (dom maklerski) | KNF | n/a | EUR 4,500 | ~2 mo |
| Seychelles | Securities Dealer's Licence | FSA | n/a | n/a | n/a |
| Singapore | Capital Markets Services (CMS) Licence | MAS | n/a | SGD 1,000 | n/a |
| Slovakia | Investment firm licence | NBS | n/a | n/a | n/a |
| South Africa | Financial Services Provider licence - Category IFinancial Services Provider licence - Category I (advice and/or intermediary services, non-discretionary, incl. crypto assets) | FSCA | n/a | n/a | n/a |
| South Africa | Financial Services Provider licence - Category II (discretionary FSP) | FSCA | n/a | n/a | n/a |
| South Africa | Over-the-Counter Derivative Provider (ODP) authorisationOver-the-Counter Derivative Provider (ODP) authorisation under the Financial Markets Act | FSCA | n/a | n/a | n/a |
| Spain | AV) investment firm licence | CNMV | n/a | EUR 10,000 | ~6 mo |
| Spain | Empresa de Asesoramiento Financiero (EAF) licence | CNMV | n/a | EUR 1,000 | ~6 mo |
| Switzerland | Portfolio manager licence | FINMA | n/a | n/a | n/a |
| Switzerland | Securities firm licence | FINMA | n/a | n/a | n/a |
| United Kingdom | MIFIDPRU Investment Firm Authorisation (Part 4A FSMA) | FCA | n/a | GBP 2,820 | ~6 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Securities and Futures Ordinance: Cap. 571 (enacted as Ord. No. 5 of 2002)
Sources
- sfc.hk: Types of intermediary and licensed individual · retrieved 2026-09-24
- sfc.hk: Securities and Futures Ordinance with subsidiary legislation · retrieved 2026-09-24
- elegislation.gov.hk · retrieved 2026-09-24
- elegislation.gov.hk · retrieved 2026-09-24
- sfc.hk: Application procedures · retrieved 2026-09-24
- sfc.hk: Annual licensing fees · retrieved 2026-09-24
- sfc.hk: Performance pledges · retrieved 2026-09-24
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