Application for insurance intermediary licenses

Contact Information
Related rules and Regulations
Registration fees of insurance intermediaries for the year 2021
Application Procedures & documents required
Insurance Agents / Insurance Salesmen
Corporate insurance agents (Formed in MSAR or with head office overseas)
Insurance Brokers (Formed in MSAR or with head office overseas)
Remarks (Applicable to all types of license applications)


Contact Information :
Administrative Department: The Monetary Authority of Macau (AMCM) -
The Insurance Supervision Department
Address :  Avenida de Sidónio Pais, Edifício Tong Hei Koc, No. 1A, Macau
Tel : 2822 1180
Fax :2822 1161
Email :AMS.DSG@amcm.gov.mo
Website :http://www.amcm.gov.mo
Office Hours: Monday to Thursday 9:00 to 13:00 and 14:30 to 17:45
Friday 9:00 to 13:00 and 14:30 to 17:30

Related rules and Regulations:

  1. Insurance Agents & Brokers Ordinance.
    Decree-Law nº 38/89/M
  2. Amendments to the Insurance Agents & Brokers Ordinance.
    Administrative Order n.º 27/2001
  3. Amendments of Article 16 and 19 of the Insurance Agents & Brokers Ordinance
    Administrative Order n.º 14/2003
  4. Registration fees of insurance intermediaries for the year 2021.
    Notice n.º 018/2020-AMCM
  5. Establishment of compulsory paper for insurance intermediaries aspiring to sell Investment-Linked Long Term Insurance
    Notice n.º 007/2011-AMCM
  6. List of educational institutions accredited by the AMCM and the level of passing for the purpose of exemption from the insurance intermediaries qualifying examinations ("IIQE")
    Notice n.º 009/2020-AMCM 
  7. List of intermediaries authorised to conduct insurance intermediary business in Macau and their respective registration numbers.
    Notice n.º 008/2020-AMCM 
  8. Commissions payable to insurance intermediaries under compulsory and facultative insurances.
    Notice n.º 013/2019-AMCM

Registration fees of insurance intermediaries for the year 2021.

Category of insurance intermediaries/Types of licenses authorized
One
license (Life/General)
Life + Investment-linked Life, general and investment-linked
Insurance agent (APS)MOP 600MOP 600MOP 1,200
Insurance salesman (ANG)MOP 500MOP 500MOP 1,000
Corporate insurance agent - formed in MSAR (APC)MOP 750MOP 750MOP 1,500
Corporate insurance agent (with head office overseas) - with proper office in MSAR (APE)MOP 900MOP 900MOP 1,800
Insurance broker - formed in MSAR (CRL)MOP 1,200MOP 1,200MOP 2,400
Insurance broker (with head office overseas) - with proper office in MSAR (CRE)MOP 1,300MOP 1,300MOP 2,600


Application Procedures & documents required:

Insurance Agents / Insurance Salesmen

Service users

Individual Insurance agent (APS) is an individual body who acts in the name of and on behalf of one or more insurers. To be authorised as an insurance agent, an applicant shall meet all the relevant requirements indicated in Article 15 of Decree- Law No. 38/89/M, of 5 June as amended by Administrative Regulation No. 27/2001.

Insurance salesman (ANG) is an intermediary who is simultaneously an employee of an insurance company, or of a corporate insurance agent or of an insurance broker and who acts, whilst carrying on insurance intermediary business, in the name of and on behalf of any one of the said entities. To be authorised as an insurance salesman, the applicant shall meet all the requirements laid down under Article 15 paragraph 1, with the exception of the requirement under sub-paragraph f) of Decree- Law No. 38/89/M, of 5 June as amended by Administrative Regulation No. 27/2001.

Documents required for application

  1. Application form – Individual insurance agent (M001_APS); or
    (Template [1]) (Sample [1])
    Application form – Insurance salesman (M002_ANG);
    (Template [2]) (Sample [2])
  2. Original and copy of Macau Permanent / Temporary identity card;
  3. Original and copy of certificate of academic qualification (minimum 12th standard or Form V of schooling)
    - In case that the applicant is unable to meet the academic requirement listed in (3), the following documents are required instead:
    1. Original of a declaration from an insurer, certifying that the applicant has received basic technical training required for the carrying on of that particular type of insurance intermediary business and has been recognized by the AMCM; and
      (Sample [3])
    2. Original and copy of work experience testimony issued by current/previous employers stating at least 5 years of full time work experience and the corresponding posts assumed.
      - In case the documents listed in (3.2) cannot be presented,the following documents are required instead:
    3. Self-declaration of work experience; and (Template [3]) (Sample [4])
    4. Record of contribution for social security fund (showing information of the employers for the past five years)
      (Sample [5])
      - In case the documents listed in (3.4) cannot be presented,the insurer of the applicant is obliged to explain in detail in the declaration that the applicant has completed extra professional training considered adequate by the AMCM, in addition to the basic technical training required for the carrying on of that particular type of business.
  4. Record of No Criminal Conviction, issued less than ninety days, for the purpose of “Application for business license as insurance intermediary (Insurance agent and Insurance salesman);
    (Sample [6])
  5. Passing record of IIQE result issued by Institute for Financial Services of Macau (“IFS”) (computer printout or original and copy of the certificate) or holder of the qualifications listed in the Notice No. 009/2020-AMCM in regard to the exemption of IIQE examinations (original and copy required);
  6. For the application of insurance salesman, an original declaration from the employer, certifying that the applicant is its employee and stating the type of insurance intermediary license to be applied.
    (Sample [7])

Time needed for approval:
The applicant will be advised in writing within 7 working days after completion of full documentation.

Applicants for bank's insurance salesman license can opt to track the progress of application and authorization result from Public Service Management Platform.

Corporate insurance agents (Formed in MSAR or with head office overseas)

Service users

Corporate Insurance agent (APC/APE) is an individual body who acts in the name of and on behalf of one or more insurers. To be authorised as an insurance agent, an applicant shall meet all the relevant requirements indicated in Article 15 of Decree- Law No. 38/89/M, of 5 June as amended by Administrative Regulation No. 27/2001.

Required documents for application

  1. Application form – Corporate insurance agent – formed in MSAR (M003_APC); or
    (Template [4]) (Sample [8])
    Application form – Corporate insurance agent – with head office overseas (M004_APC);
    (Template [5]) (Sample [9])
  2. Name of the company indicated in any one official languages;
  3. Original and copy (or a certified copy) of the Article of Association;
  4. Record of No Criminal Conviction, issued less than ninety days, for the purpose of “Application for business license as insurance intermediary (Insurance agent and Insurance salesman) for all shareholders and members of the executive board; (Sample [6])
  5. Original and copy (or a certified copy) of the identification document of all shareholders and members of the executive board;
  6. Declaration of integrity of all shareholders and members of the executive board (M010);
  7. Power of attorney to the authorized third party to apply for the insurance intermediary license on behalf of the shareholders/members of the executive board (if applicable);
  8. Original and copy of the identification document of the authorized third party mentioned in (7) (if applicable);
    Regarding the application for corporate insurance agent with head office overseas, the following documents are required as well:
  9. A certified copy of the document issued by the relevant entity (for example, the Article of Association of the head office and the respective commercial registration documents) attesting that the applicant is legally formed in the country or territory of origin and a certified copy of the document issued by an association of insurance agents of that country or territory attesting that the applicant is registered with such association;
  10. A certified copy of the power of attorney or board minutes in relation to the nomination of the legal representative;
  11. Identification document of the legal representative (required documents as listed in items 4, 5 and 6);
  12. Original and copy, or certified copy of the board minutes regarding the resolution to set up a branch office in Macau.


Time needed for approval:
A written notification, regarding whether the application is authorized or rejected, will be issued within 7 working days, provided that all the required document/information deem appropriate.


Insurance Brokers (Formed in MSAR or with head office overseas)
Insurance broker is an intermediary, organized as a corporate entity, who acts in the name of and on behalf of policyholders, with the exclusive object of carrying on Insurance intermediary business. To be authorised as an insurance broker, an applicant shall meet all the relevant requirements indicated in article 25 of Decree-Law No. 38/89/M.

Required documents for application

  1. Application form – Insurance broker – formed in MSAR (M006_CRL); or
    (Template [6]) (Sample [10])
    Application form – Insurance broker – with head office overseas (M005_CRE);
    (Template [7]) (Sample [11])
  2. Original and copy, or certified copy of the transcript issued by the Commercial Registration, with the name of the company indicated in any one official languages;
  3. Original and copy (or a certified copy) of the Article of Association;
  4. Record of No Criminal Conviction, issued less than ninety days, for the purpose of “Application for business license as insurance intermediary (Insurance agent and Insurance salesman) for all shareholders and members of the executive board; (Sample [12])
  5. Original and copy (or a certified copy) of the identification document of all shareholders and members of the executive board;
  6. Declaration of integrity of all shareholders and members of the executive board (M010);
  7. Business plan signed by the shareholders or members of the executive board;
  8. Identification document of the risk analyst (required documents as mentioned in items 4, 5 and 6 above);
  9. Background information of the risk analyst (academic qualification, professional qualifications, documentary proof of work experience);
  10. Power of attorney to the authorized third party to apply for the insurance intermediary license on behalf of the shareholders/members of the executive board (if applicable);
  11. Original and copy of the identification document of the authorized third party (if applicable);
    Regarding the application for insurance broker with head office overseas, the following documents are required as well:
  12. A certified copy of the document issued by the relevant entity (for example, the Article of Association of the head office and the respective commercial registration documents) attesting that the applicant is legally formed in the country or territory of origin and a certified copy of the document issued by an association of insurance agents of that country or territory attesting that the applicant is registered with such association;
  13. A certified copy of the power of attorney or board minutes in relation to the nomination of the legal representative;
  14. Identification document of the legal representative (required documents as listed in items 4, 5 and 6);
  15. Original and copy, or certified copy of the board minutes regarding the resolution to set up a branch office in Macau.

Time needed for approval:
A written notification, regarding whether the application is authorized or rejected, will be issued within 7 working days, provided that all the required document/information deem appropriate.

Remarks: ( Applicable to all types of license applications)

Applicants will have to come to the administrative building of the AMCM in person for submission of the application documents.

All the copies has to be in A4 size format with the original presented for verification purpose. For the case of identification document, the front and the back has to be copied on the same side of the A4 size paper.

In addition to the aforementioned documents, the AMCM reserves the right to request the applicant for further clarification if deemed necessary or for submission of other documents or information with a view to verify if the applicant has already possessed the pre-requisite for carrying on insurance intermediary business.

Application for insurance intermediary licenses


Last revision: 2021-01-12 15:57:39