Editor’s Note
This article serves as a timely regulatory reminder for participants at the Hong Kong Jewellery & Gem Fair. It highlights the enforcement of the Precious Metals and Stones Dealers Regulatory Regime, underscoring the importance of compliance with anti-money laundering and counter-terrorist financing obligations.
The “Global Event | September Hong Kong Jewellery & Gem Fair” commenced today (September 15) and will run for five consecutive days at the AsiaWorld-Expo. Hong Kong Customs reminds exhibitors that, in accordance with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615), the Precious Metals and Stones Dealers Regulatory Regime (the Regime) has been implemented since April 1, 2023.
Any person intending to carry on a business as a dealer in precious metals and stones and conducting transactions in Hong Kong with a total value of HK$120,000 or above (whether as payment or receipt) in the course of that business must register with Hong Kong Customs and properly fulfill the statutory anti-money laundering and counter-terrorist financing obligations. All dealers in precious metals and stones must obtain the relevant registration before they can conduct cash or non-cash transactions with a total value of HK$120,000 or above.
Non-Hong Kong dealers in precious metals and stones who meet specified conditions (including exhibitors coming to Hong Kong to participate in exhibitions) are exempted from registration. However, they are required to submit a cash transaction report to Hong Kong Customs for any cash transaction conducted in Hong Kong with a total value of HK$120,000 or above (whether as payment or receipt). The report must be submitted within one day after the transaction, or before the dealer or the person acting on behalf of the dealer leaves Hong Kong, whichever is earlier.
Non-Hong Kong dealers can log in to the “Dealers in Precious Metals and Stones Registration System” via the Regime’s website at www.drs.customs.gov.hk to submit cash transaction reports. Detailed steps are provided in the attachment.
Non-Hong Kong dealers can also download the relevant form from the website (www.drs.customs.gov.hk/download/drsform/CED418_Form%208_Cash%20transaction%20report.pdf) and submit the completed report by fax to (852) 3568 4395 or in person during office hours to the office of the Customs and Excise Department’s Precious Metals and Stones Dealers Supervision Section (Address: Room 3501, 35/F, Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon).
Dealers who wish to learn more about the Regime can visit the webpage (www.customs.gov.hk/tc/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).
Source: The Government of the Hong Kong Special Administrative Region – Press Release
https://www.info.gov.hk/gia/general/202509/15/P2025091500566.htm