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ARTICLE · 21 APRIL 2021

Lending & Secured Finance Country Comparative Guide 2021

Mayer Brown
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The aim of this guide is to provide readers with a pragmatic overview of the lending and secured finance laws and regulations across a variety of jurisdictions.

Hong KongFinance and Banking
Francis K. W. Chen
Francis K. W. Chen
Thomas Pugh
Thomas Pugh
Dion K. Y. Yu
Dion K. Y. Yu
Jennifer C. Ho
Jennifer C. Ho
Edwin Y. H. Leung
Edwin Y. H. Leung
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1. Do foreign lenders require a licence/regulatory approval to lend into your jurisdiction or take the benefit of security over assets located in your jurisdiction?

Lending into Hong Kong

Any person, not being an "authorized institution" authorised by the Hong Kong Monetary Authority under the Banking Ordinance (Cap. 155) carrying on business as a money lender in Hong Kong must obtain a money lender's licence in accordance with the Money Lenders Ordinance (Cap. 163) ("MLO"), unless one of the exemptions set out in the MLO applies (including loans secured by charges registrable under the Companies Ordinance (Cap. 622) ("CO"). However, even though there is no legal authority on this point, it is arguable that the MLO does not have extra-territorial effect, so a lending business carried on outside Hong Kong does not need an MLO licence. This can be the case even if the borrower is incorporated and/or doing business in Hong Kong or the loan is disbursed in Hong

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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