Sovereign is among the first Hong Kong-based firms to be formally licensed as a trust or company service provider (TCSP) under Hong Kong’s newly created TCSP licensing regime.

Under the new licensing regime, TCSPs are required to apply for a licence from the Registrar of Companies and satisfy a ‘fit-and-proper’ test before they can provide trust or company services as a business in Hong Kong. Any person who carries on a trust or company service business in Hong Kong without a licence commits an offence.

These new licences add to the 31 professional licences held by Sovereign Group companies around the worl...