HKMA sets HK$300m minimum paid-up capital requirement for virtual banks, says anything lower is “neither possible nor appropriate”

31 May 2018 | 3 minutes read
HKMA Asian Private Banker
The Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA) has confirmed the minimum paid-up capital requirement for virtual banks will be HK$300 million in its revised Guideline on Authorization of Virtual Banks, published yesterday alongside a consultation conclusion. The update should put to rest widespread uncertainty on how virtual banks should comply with existing banking regulations and a minimum capital requirement that is…

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