Acknowledge receipt of the application for license of Insurance institution/fund

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Application procedures

Types of insurance institutions:

1. Insurer with head office in the Macao Special Administrative Region
2. Branch office of insurer with head office overseas
3. Representative office of insurer with head office overseas
4. Reinsurer with head office in the Macao Special Administrative Region
5. Representative office of reinsurer with head office overseas

Upon receiving an application for establishment of an insurance institution submitted to the Monetary Authority of Macao, a confirmation acknowledging receipt will be issued to the applicant by Insurance Supervision Department.

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Service location and office hours

Calçada do Gaio, n.^os 24 e 26, Macau

Monetary Authority of Macao

Insurance Supervision Department

Phone: (853) 2856 8288

Fax: (853) 2830 1828

Email: dsg@amcm.gov.mo

Website: http://www.amcm.gov.mo

 

Monday to Thursday, 9 am to 1 pm and 2:30 pm to 5:45 pm

Friday, 9 am to 1 pm, 2:30 pm to 5:30 pm

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Fees

Application fee: Free of charge.

Supervisory fee: Insurers and reinsurers authorised to carry on their activity in the MSAR shall be subject to the payment of an annual supervisory fee of an amount calculated according to the scale of their business, not less than thirty thousand patacas nor higher than one million patacas. The calculation of the supervisory fee shall be fixed by the AMCM by way of Notice, to be published in the Official Gazette, and the payment and collection of such fee for the preceding year shall be effected during the month of June each year.

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Time required for approval

Time required will be dependent on a case-by-case basis.

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Respective regulations or requirements

Please refer to the link below:

Macau Insurance Ordinance (Decree-Law No. 27/97/M, of 30 June, amended by Law No. 21/2020 and republished by Dispatch of the Chief Executive no. 229/2020)

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