A lot have been said and penned about starting investments in Hong Kong. However, one thing remains outstanding; getting working visa is no longer a major issue. In this post on startup founders: Hong Kong, the ease of setting up a business and various programs that people can use are discussed.
The start-up investment
The name start-up businessis used to mean those entrepreneurs who are making their first foot in investment in Hong Kong. This scheme was started by the immigration department in 2015 to establish the best ways for assisting new startups. The Hong Kong administration wanted to ensure that there is an abundant flow of talents and innovation. Other reasons for this scheme included the following:
Help investors to face and operate in rhythm with the global trends.
Help investors who have great ideas but lack capital or track records to meet the stringer rules for visa application.
Anchor innovative ideas of selected people with government supported programs after extra scrutiny.
Anchoring the government idea to support programs for innovative investments that support sustainable development.
What this means is that if a startup founder has a very good and revolutionary idea, he/she can apply for a Startup business permit. The application is carefully vetted to ensure that it has the anticipated potential.
The five government preapproved programs
To get considered in the Startup Founders: Hong-Kong Visa application, your startup has to fit in any of the following programs.
Incu-App, Incu-Bio and Incu-Tech at Hong Kong Science and Technology Park (HKSTP)\
Small Entrepreneur Research Assistance Programme and Enterprise Support Scheme (Innovation and Technology Commision)
Design Incubation Programme (Hong Kong Design Centre)
Vetting of startups
Every start-up is expected to be unique and bring a lot of benefits to the Hong Kong economy. When you make an application, the immigration department vets the start-up and even brings other professionals for extra analysis.
The respective programs and professionals may also come in later to help broaden the perspective of operations. For example, people with start-ups on high-end value addition stand a chance of getting a lot of support from multiple stakeholders because of the huge potential.
Eligibility to apply for startup visa
The eligibility for Startup Founders: Hong-Kong Visa is relatively wide because the categories outlined above can be looked at from different dimensions. The start-up business includes the following:
Proprietors or partners of such start-ups: The proprietors must be the owners of the inherent ideas and capable of operationalizing them from the beginning to end.
Key researchers in relevant projects: The researchers under different programs have a lot of knowledge about start-up businesses for unique ideas to help take Hong Kong to the next economic level.
With start-ups, there is no limitation on the amount because the inherent ideas are new. From a theoretical point of view, everybody involved with incubating the idea can be taken as partners or staff.
Because of many stakeholders involved with the start-ups, the categories outlined above are often interpreted differently. Therefore, it is advisable to apply for your StartUp Visa in Hong-Kong right away.