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www.hongkongvisahandbook.com HONG KONG VISA FOR BUSINESS  INVESTMENT
BUSINESS  INVESTMENT VISA Substantial  Approvability Test www.hongkongvisahandbook.com Will the applicant make a substantial contribution to the economy of  Hong Kong? (or …… how long is a piece of string?)  Contribution to Hong Kong
Can’t Join in a Business  Until the consent of the HKID is secured Can’t Show Contribution Without actually joining in a business Can’t Secure Consent Until you can show contribution to Hong Kong www.hongkongvisahandbook.com CATCH  22  Test requires showing only prospective (not immediately observable) contribution
Suitable Business Premises Local Recruitment Resources Must be suitable in all the circumstances BEWARE SPARE BEDROOMS www.hongkongvisahandbook.com Quality of jobs just as  important  as the  number of jobs FUTURE JOBS CAN SUFFICE  THE RUBBER HITS THE ROAD PASSING  THE APPROVABILITY TEST There are typically 4 types of resources that need to be available for deployment in the business Obvious commitment to the business  =  manifest commitment to Hong Kong
Financial How is the business to be funded and where is the $$ coming from? RESOURCE  REQUIREMENTS Commercial Who are you doing business with and what support do you have? Track Record Have you done this before and if not how does your history advantage you? Compliance Licensed? Incorporated? Registered?  Current?  Any Security Cbjection? www.hongkongvisahandbook.com 4
OLD  CHESTNUTS “ My Successful Business Will be Paying Tax” “ You Need HKD XXX,XXX Minimum” “ My Friend Got Approved & ……” www.hongkongvisahandbook.com
IMPROVE  YOUR CHANCES www.hongkongvisahandbook.com Beware the Catch 22 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Not available to Visitors www.hongkongvisahandbook.com SIDE  BUSINESS Joining in a side business is a real solution for currently employed, one-man operations  Sets the Stage For a ‘full’ business investment visa later Simple Vehicle OK Sole proprietorships are acceptable Condition Precedent The consent of your current employer required Approvability Test Far less burdonsome as  ipso facto  a ‘small’ business HKID Engaged Fom the outset and can monitor your progress No Sponsorship Issue As you still work for  your current employer
SPECIAL  CONSIDERATIONS www.hongkongvisahandbook.com Your existing visa is not transferrable to your new business 1 You  must apply to change your visa category to Business Investment 2 Until you are  at least 3 years resident, the Approvability Test is just as onerous 3 The Catch 22 still applies  4 Currently Hong Kong resident with an Employment visa sponsored by another firm?
WHO? WHY? SPONSORSHIP  CONSIDERATIONS www.hongkongvisahandbook.com WHEN? Technical mechanism to fund repatriation if necessary Any  ‘bona fide’  Hong Kong resident (related party preferred) Arrange at the outset and be strategic
Need When intention to join in a business has crystallized Approvability Test Single most difficult Hong Kong visa challenge Vulnerable If no application in the system  but business has started IN  SUMMARY www.hongkongvisahandbook.com Lengthy Process Will tax your emotional and time resources Think/Act BIG ‘ Substantial ‘ frequently rules out 1 man businesses Advice Consider taking professional advice

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Hong Kong Investment Visa

  • 1. www.hongkongvisahandbook.com HONG KONG VISA FOR BUSINESS INVESTMENT
  • 2. BUSINESS INVESTMENT VISA Substantial Approvability Test www.hongkongvisahandbook.com Will the applicant make a substantial contribution to the economy of Hong Kong? (or …… how long is a piece of string?) Contribution to Hong Kong
  • 3. Can’t Join in a Business Until the consent of the HKID is secured Can’t Show Contribution Without actually joining in a business Can’t Secure Consent Until you can show contribution to Hong Kong www.hongkongvisahandbook.com CATCH 22 Test requires showing only prospective (not immediately observable) contribution
  • 4. Suitable Business Premises Local Recruitment Resources Must be suitable in all the circumstances BEWARE SPARE BEDROOMS www.hongkongvisahandbook.com Quality of jobs just as important as the number of jobs FUTURE JOBS CAN SUFFICE THE RUBBER HITS THE ROAD PASSING THE APPROVABILITY TEST There are typically 4 types of resources that need to be available for deployment in the business Obvious commitment to the business = manifest commitment to Hong Kong
  • 5. Financial How is the business to be funded and where is the $$ coming from? RESOURCE REQUIREMENTS Commercial Who are you doing business with and what support do you have? Track Record Have you done this before and if not how does your history advantage you? Compliance Licensed? Incorporated? Registered? Current? Any Security Cbjection? www.hongkongvisahandbook.com 4
  • 6. OLD CHESTNUTS “ My Successful Business Will be Paying Tax” “ You Need HKD XXX,XXX Minimum” “ My Friend Got Approved & ……” www.hongkongvisahandbook.com
  • 7.
  • 8. Not available to Visitors www.hongkongvisahandbook.com SIDE BUSINESS Joining in a side business is a real solution for currently employed, one-man operations Sets the Stage For a ‘full’ business investment visa later Simple Vehicle OK Sole proprietorships are acceptable Condition Precedent The consent of your current employer required Approvability Test Far less burdonsome as ipso facto a ‘small’ business HKID Engaged Fom the outset and can monitor your progress No Sponsorship Issue As you still work for your current employer
  • 9. SPECIAL CONSIDERATIONS www.hongkongvisahandbook.com Your existing visa is not transferrable to your new business 1 You must apply to change your visa category to Business Investment 2 Until you are at least 3 years resident, the Approvability Test is just as onerous 3 The Catch 22 still applies 4 Currently Hong Kong resident with an Employment visa sponsored by another firm?
  • 10. WHO? WHY? SPONSORSHIP CONSIDERATIONS www.hongkongvisahandbook.com WHEN? Technical mechanism to fund repatriation if necessary Any ‘bona fide’ Hong Kong resident (related party preferred) Arrange at the outset and be strategic
  • 11. Need When intention to join in a business has crystallized Approvability Test Single most difficult Hong Kong visa challenge Vulnerable If no application in the system but business has started IN SUMMARY www.hongkongvisahandbook.com Lengthy Process Will tax your emotional and time resources Think/Act BIG ‘ Substantial ‘ frequently rules out 1 man businesses Advice Consider taking professional advice