Local Credit Institutions (including Banks and Restricted Licence Banks)

Licensing Requirements / Criteria

The institution to be incorporated as a local credit institution must be a public limited company. The main requirements regarding company capital and administrators are as follows:

1. The minimum capital requirements for founding a bank and restricted licence bank are MOP 300 million and MOP 100 million respectively.
2. Upon incorporation, the registered capital of the institution must be fully paid up in cash with a half of the capital deposited at Monetary Authority of Macao (AMCM) or other institutions specified by AMCM, for the disposal of AMCM.
3. The board of directors must have a minimum of five (5) persons with recognised suitability, and at least three (3) of them must have habitual residence in Macao, and at least one (1) of them must be a Macao resident.
4. The Supervisory Board must have a minimum of three (3) persons with recognised suitability, at least one (1) of them must be a practising accountant.

(Competent department: Monetary Authority of Macao)

Credit institutions domiciled in other places open branches in Macao (including banks and restricted licence bank)

Licensing Requirements / Criteria

1. The proposed institution must be established as a branch of the overseas institution. Foreign credit institutions must allocate to their branches no less than 50% of the minimum capital required for the establishment of local credit institutions in cash as operating capital (i.e., in accordance with the minimum operating capital requirements for bank branches and restricted licence bank branches, MOP 150 million and MOP 50 million respectively).
2. Within six months from the date of issuance of the branch-opening permit, the foreign credit institution must deposit at least a half of the above-mentioned of capital at Monetary Authority of Macao (AMCM) or other institutions specified by AMCM, for the disposal of AMCM.
3. The management of the branch must be ensured by at least two (2) persons with recognised suitability, sufficient professional experience and the authority to effectively manage the branch, and who have their habitual residence in Macao.

(Competent department: Monetary Authority of Macao)

Insurance Company

Insurers/Reinsurers with domicile in the Macao SAR

1. The capital shall not be less than MOP 30 million for insurers providing general insurance; and the minimum capital for insurers providing life insurance is MOP 60 million.
2. The capital shall not be less than MOP 100 million for reinsurers providing non-life business; and the minimum capital for reinsurers providing life insurance is MOP 150 million.

(Competent department: Monetary Authority of Macao)

Financial Companies

Licensing Requirements / Criteria

The financial company must be a public limited company. The requirements regarding registered capital and administrators are as follows:

1. The minimum registered capital is MOP 100 million;
2. Upon incorporation, 50% or more of the capital should have been paid, and at least 50% of the paid amount must be paid up in cash with a half of the capital deposited at Monetary Authority of Macao (AMCM) or other institutions specified by AMCM, for the disposal of AMCM.
3. The board of directors must have a minimum of five (5) persons with recognised suitability, and at least three (3) of them must have Macao as their habitual residence, and at least one (1) of them must be a Macao resident.
4. The Supervisory Board must have a minimum of three (3) persons with recognised suitability, and at least one (1) of them must be a practising accountant.

(Competent department: Monetary Authority of Macao)

Financial Leasing Company

Licensing Requirements / Criteria

The financial leasing company must be a public limited company or a limited company. The requirements regarding registered capital and administrators are as follows:

1. The minimum company capital is MOP 10 million; 2. Upon incorporation, the share capital of the company should be fully subscribed to and fully funded in cash: 3. The personnel of the administration authorities must have the appropriate ability, qualifications and experience to hold the position, and at least one (1) person must have Macao as their habitual residence and have the authority to effectively run the business of the Company.

(Competent department: Monetary Authority of Macao)