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)