The cost of a Hong Kong entrepreneur visa is USD 5000. Discover our offer here.
While the Hong Kong department of immigration does not give the statistics on this, the approval rate is generally medium to low. This is because of the stringent requirements by the department of immigration.
For many people especially those who have never been to Hong Kong, the chances are very slim unless they take a lot of time to study the market and get all the requirements.
After 7 years. After getting an entrepreneur visa, you are required to run the company viably for about seven years in Hong Kong to apply for a permanent identity card. During this application, you need to demonstrate that you have a residence in Hong Kong and sufficient income to support the family.
The card has all the information about you and can be used in exit kiosks in airports and sea ports. It is a requirement that you always carry the identity card with you and provide it to the police when required to do so. With a permanent Hong Kong identity card, you are free to stay in the country without getting deported.
After getting an entrepreneur visa, you can apply for an identity card. In Hong Kong, the identity card is a requirement for all persons over the age of 11 years. The same case applies to other visa holders. The identity card is very important because it contains a microchip with all your information that can be used to access public resources such as libraries.
After applying for the identity card, it takes about 30 days to process. Besides, you should notify the authorities within 14 days if it gets lost. After staying for 7 years with non-resident identity card, you can apply for a permanent one.
Though you can only apply for one entrepreneur visa at the beginning, the number can go up if you form a partnership in future. However, the applicants will be required to demonstrate the input they will be making to the company.
For example, they must demonstrate inherent skills they are adding and capital injection. The immigration department will review such applications depending on the status of the company since the pioneer got the first entrepreneur visa. It will be particularly important that the new entrepreneur visa applicant is conversant with the business model and is in agreement with the management about his contribution.
Once your entrepreneur visa has been granted, it remains valid for two years. Hong Kong administration uses a 3 tier system (2-2-3 years) that means the first application will last for 2-years and can be renewed for additional of two years and finally three years.
If you reside for 7 years after getting the entrepreneur visa, you can apply for permanent residence (right of abode in Hong Kong). Remember that to successfully renew the permit; it is a requirement that the application is made not less than 4 weeks before expiry. Besides, you should manage the business prudently to ensure it is viable and contributes significantly to Hong Kong economy.
In the business plan, you will be expected to demonstrate the market analysis, entry strategy, and marketing strategies. Remember that the need for local clients is also dependant on the nature of the business.
For example, if the business is in the export sector, the chances are that the clients will be abroad. Before making an application for entrepreneur visa, it is prudent to carry comprehensive market study to establish where the customers are. If they are abroad, you need to vividly demonstrate the chain of distribution that will be used to operate profitably.
While you do not require advisors to request a Hong Kong entrepreneur visa, they will greatly raise your chances of success. Advisors are experts who have been assisting clients with Hong Kong visa application and can also be of great help to you.
An advisor will particularly assist you to draw a business plan for the investment in line with the authorities’ requirement. If you do not have a sponsor, the advisor can even act as the sponsor to make your work easier and save time.
There is no minimum capital requirement for a Hong Kong company. This is because different companies have various operational needs. For some companies especially those targeting import/export sectors among others, the capital investment could be very high.
Though there is no minimum share capital stipulation, the norm is having a share capital of HKD 200,000. As an investor, you can express the capital in any currency. Remember to ensure that the available capital rhymes well with your business plan for about two years and can cater for all the expenses for the first 6 months.
Yes, you can. One of the requirements for entrepreneur visa is that you must have a registered company. After registering the company, you might consider staying in Hong Kong using the current visa. Visit the immigration department to check for how long your current visa allows you to stay in Hong Kong.
For example, visa allows Australians, Americans, and Austrians to mention but a few, to stay in Hong Kong for up to 90 days. However, if you are looking forward to using the entrepreneur visa to stay in Hong Kong, you will need to wait until the processing is complete.
You cannot appeal. When your investment visa application is rejected, there are two things you can do;
Before making an application for decision review or reapplying, it is advisable to revisit the eligibility requirements for the investment visa. For example, prepare a better business plan, consolidate more capital, and outline how the business will assist Hong Kong economy.
The Hong Kong immigration department accepts applications from most nationalities all over the world except nationals of Afghanistan, Cambodia, Cuba, Laos, Korea, Nepal and Vietnam. The focus of the investment visa is to encourage people to set up businesses that can employ people, support the economy, and help Hong Kong to remain the best in the world.
If you can be allowed entry into Hong Kong, you can definitely apply for an investment visa. The most critical thing is meeting the threshold of applying for the visa. This means that you should have a good business plan to operate for about two years. Besides, the business plan should demonstrate how the company will be of help to the Hong Kong economy and have enough capital to meet all expenses for the first 6 months.
While there is no legal minimum turnover for a company requesting a Hong Kong investment visa, the authorities carefully scrutinize the operations to ensure it will have significant economic impact.
This is because the turnover rates for different companies could differ a lot depending on the type of business, area of operation, customer base, and competition. The objective of the immigration department is to attract investors and highly talented people to grow the Hong Kong economy.
Yes, you can. The main target of entrepreneur visa is making it easy for people to bring business to Hong Kong. To make an application, you need to check the requirements of entrepreneur visa in the Hong Kong Immigration Department (HKID).
If you meet the threshold required, you can go ahead and apply directly at the department. For example, ensure that you have a registered company in Hong Kong and drawn a good business plan that demonstrates you will contribute significantly to Hong Kong economy. Besides, you will need to demonstrate that the business can meet all the start-up and subsequent expenses for about 24 months.
When you get a Hong Kong entrepreneur visa, you are allowed to bring family members (a spouse and dependant children under 18 years) to Hong Kong. To bring the family members, you are required to file a dependant visa application for each of them.
Hong-Kong administration indicates that this is necessary for planning purposes. The dependants can stay in Hong Kong as long as the entrepreneur visa is valid. Besides, the dependants are also free to take gainful and legal employment and even study in Hong Kong. If you stay for 7 years and get permanent residence, the dependants will also get the same status.
Yes, a local partner is required before your entrepreneur visa can be approved. The partner (commonly referred as a sponsor) can be a company or individual and responsible for your repatriation if the need arises in future. If the partner is a business, a complete application form and a registration certificate will be needed.
If the partner for your application is an individual, his identity card, personal passport particulars, and an application form will be required. While these are the main requirements from the sponsor by the Hong Kong administration, you can be required to provide additional information where necessary before the visa can be approved.
The Hong Kong entrepreneur visa is a programme for foreign investors who intend to open businesses in Hong Kong. Essentially, it is a form of work permit given to the business owner who is considered an employee of his business.
Authorities will carefully scrutinize your business plan to ensure that it has enough potential to contribute to Hong Kong’s economy. Your business should be able to meet the start-up requirements and cater for all expenses over a period of 20-24 months. The visa is renewable for two years and the entrepreneur can even apply for permanent residence after 7 years.
While this is not a requirement by the immigrations department, many are the companies that consider it a very great idea. Because top advisors are experts with manly years of experience, they will be able to show you the main causes of employment visa denial and help your company to avoid similar mistakes.
They can also hasten the application process by helping you prepare the relevant documentation for the sponsor company and those of the target employee. Additionally, the advisor will give your company useful advice on handling matters related to foreign staff, raising workforce productivity, and profitability.
Hong Kong administration does not specify the length of professional experience that candidates should demonstrate. While the department has a preference for people with longer experience, even professionals with a few years of experience are still eligible.
It is the role of the employer to demonstrate that the employee under consideration is exceptional and can deliver better results than the local staff. For example, a company dealing with latest computing technologies might source for top talents even direct from universities abroad because they have the needed skills. If the employee under consideration does not have a degree, it is advisable to consider the technical experience of more than five years in a similar position.
Once an employment visa has been granted, it is specific to a specific employer/sponsor. Accordingly, the Hong Kong administration does not allow you to shift employment to another company without authorization.
If you need to change jobs, you are required to write an application for change of employment to the immigration department.
The immigration officials will review the application and allow or deny you the opportunity to shift to a different company. If the change is approved, you are required to surrender the old employment visa and pick a new one to use at the new company.
Once you have secured a Hong Kong employment visa, you are allowed to bring a spouse or family members of dependant age (below 18 years). Make an application for dependant visa for them to be allowed entry. You will be required to proof that the dependants are your family members (spouse and children) and can be able to support them at a standard that is above average while in Hong Kong.
The dependant visa allows your spouse to study and even seek gainful employment in Hong Kong. Notably, the dependant visa will only remain valid as far as the eligibility criterion is upheld.
A Hong Kong employment visa is issued for 12 months. Later, the immigrations department will renew the visa on 2-year basis until you reach the 7 years required for application of permanent residence. On the seventh year, you will be eligible to apply for permanent residence that does not require sponsorship or fear of deportation. Your dependants will also get the same status to live in Hong Kong.
At this point, you will be free to seek employment in other companies without having to notify the immigrations department. Note that you are required to have an identity card immediately after securing an employment visa.
The Hong Kong authorities can give employment visa to people from all nations except nationals of Afghanistan, Cambodia, Cuba, Laos, Korea, Nepal and Vietnam. The employer is allowed to source for top skills from all over the world and bring the best talents to make Hong Kong the best city.
The administration believes that local people can also learn a lot about the new skills that a company sources from abroad. However, these rules can change anytime and employers should always check on the eligibility of nationals from different countries.
The employment visa is applied by the employer. The employer has to demonstrate that the employee he wants to bring to Hong Kong does not have a criminal record and is highly qualified. The main preference is those people with undergraduate studies or further studies.
However, the employer can still request an employment visa for a person with documented evidence of good technical qualifications. The Hong Kong immigration department insists that the employer has to demonstrate the skills and expertise he is seeking cannot be sourced locally. Besides, the employer has to show how the new employee will benefit the Hong Kong economy.
Our experts are perfectly trained to easily prove your added value.
Yes, you require an employment visa. The employment visa allows you to enter and stay in Hong Kong legally as an employee. It demonstrates that you have special qualifications, skills, and your stay will be of great help to Hong Kong. Apart from employment visa, there are exceptions when you are eligible to seek gainful employment.
Family members and children below the age of 18 years can enter Hong Kong using dependant visa that also allows them to seek gainful employment. The dependant visa allows the holder to work in Hong Kong for a period two years before seeking renewal for another two years.
The success rate when applying for a Hong Kong employment visa is relatively low. Even when the respective employment position is available, the government encourages companies to employ the local people first. Therefore, the application could be denied even if you have the right skills to encourage companies to source for human resources locally.
This reduces the unemployment rates, helps to grow the economy, and advances Hong Kong’s good name. Remember that even after getting the visa; your working eligibility is restricted to the employer who made the application. If you want to change the employment to a different company, an application for change of employment must be filed with the department of immigration.