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 |
|---|---|
| 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
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: cap571AF · retrieved 2026-09-24
- elegislation.gov.hk: cap571N · 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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