Hong Kong Trust Licence (Registered Trust Company under the Trustee Ordinance, Cap. 29) – Overview and Regulatory Framework:

Legal Basis: Part VIII of the Trustee Ordinance (Cap. 29), distinct from the TCSP (AML/CFT under Cap. 615). This is the statutory registration regime for licenced professional trust companies.

Regulatory Authority: The Hong Kong Companies Registry handles all applications, review, registration, and certification.

Core Positioning: This is the only registration that allows a business to operate — and hold itself out — as a "trust company" with trusteeship as its principal business. A TCSP license may only provide incidental, simple trust-related services, it cannot be used to conduct trust business as a principal activity, or describe itself as a trust company.

Mandatory Dual Compliance: Even after obtaining a Trust Licence, a business offering ancillary services — such as company secretarial services, registered address, or nominee arrangements — must also hold a TCSP licence, operating under dual compliance.

Consequences of Unlicenced Operation: Managing substantial client assets in a trustee capacity without registration as a trust company is a regulatory breach. Providing corporate ancillary services without a TCSP licence is a criminal offence, punishable by fines and imprisonment.