Hong Kong VASP licence cost.
A Hong Kong SFC VASP licence is required to operate a virtual-asset exchange in Hong Kong or to market to the HK public. It is capital-intensive and slow. Here is the realistic 2026 cost, plus the HKMA Stablecoin Ordinance comparison.
What you actually pay, line by line.
| Item | Amount | Note |
|---|---|---|
| Minimum paid-up share capital (VASP) | HK$5,000,000 (USD 640,000) | Plus liquid-capital floors |
| SFC application & legal | HK$2,000,000 – 4,000,000 (USD 256k – 512k) | One-time; policies, RO, audit |
| Compliance & responsible officers | HK$1,500,000+ (USD 192k+) | Per year |
| HK Limited entity + secretary | from USD 5,800 | Underlying company |
| Year-1 all-in (VASP) | USD 1,000,000 – 2,000,000 | Including capital |
| HKMA Stablecoin Issuer licence | HK$25,000,000 capital (USD 3.2M) | Separate; in force 1 Aug 2025 |
Government fees are pass-through and may be revised by the regulator without notice. AED/USD conversions are indicative. ArxSetup professional fees are fixed and quoted in writing before engagement. Figures current May 2026.
Reviewed by qualified counsel within ArxSetup and our affiliated practices, Neo Legal (UAE) and Cornwalls (Australia). Figures verified against primary regulator sources. Last reviewed: May 2026. Est. 2021 · DDA Licence 107229 · direct registry filing partner. How we review →
Common questions.
The questions clients ask most before committing. Current to 2026, reviewed by counsel.
How much does a Hong Kong VASP licence cost in 2026?
Year-one all-in is typically USD 1–2 million including the HK$5 million (USD 640,000) minimum paid-up capital, the SFC application and legal work, compliance and responsible officers, and the underlying HK Limited. The process takes 5–9 months.
What is the Hong Kong SFC VASP licence?
Under the AMLO amendment (effective 1 June 2023), any platform operating a virtual-asset exchange in Hong Kong, or marketing to the HK public, must hold an SFC VASP licence. As of early 2026 there are around 12 fully licensed platforms.
What does the HKMA Stablecoin Ordinance require?
In force since 1 August 2025: only HK-incorporated companies or qualifying authorised institutions can apply, with HK$25 million minimum paid-up capital, 100% high-quality liquid reserves fully segregated, and T+1 par-value redemption.
Hong Kong VASP vs Dubai VARA — which is cheaper?
VARA's all-in (USD 500k–2M) is broadly comparable to Hong Kong's VASP. VARA is purpose-built for crypto-native firms and covers all of Dubai; Hong Kong suits China-nexus and Asian institutional flow.
How long does the SFC VASP licence take?
5–9 months from application, driven by the AML/KYC framework, custody arrangements, fit-and-proper assessments, and the independent technology audit.
This page is general information, reviewed May 2026 — not legal, tax or immigration advice, and it does not create a client relationship. Advice specific to your circumstances is provided only under a signed engagement letter. Government fees are set by the relevant authority and may change without notice. Where local registered agents are required, we coordinate with licensed partners and disclose their role in writing.