A non-Hong Kong precious metals and stones dealer is a person who deals in precious metals and stones in Hong Kong where—

• the person—
  • either—
    • is an individual who does not ordinarily reside in Hong Kong; or
    • is a legal person, other than an individual, that is incorporated or established outside Hong Kong and is not a registered non-Hong Kong company as defined by section 2(1) of the Companies Ordinance (Cap 622); and
  • does not have a place of business in Hong Kong; and
• the total number of days on which the person’s precious metals and stones business is carried on in Hong Kong does not exceed 60 days in a calendar year.

A non-Hong Kong precious metals and stones dealer must file a cash transaction report which shall include travel information and particulars of the dealer and/or the person acting on behalf of the dealer (as appropriate), particulars of the customer and transaction details to the Customs and Excise Department for any specified cash transactions carried out within 1 day after the transaction, or the earliest time when the dealer or the person acting on behalf of the dealer leaves Hong Kong, whichever is earlier.

Any non-Hong Kong precious metals and stones dealer fails to report a specified cash transaction is liable on conviction to a maximum fine of HK$50,000 and imprisonment for three months.