Entrepreneur Visa in Hong-Kong: What you need to know
Hong Kong is among the top destinations in the world to operate a business. In addition to its stable government administration, Hong Kong has been passing policies that make it very easy to do business. In this post, Entrepreneur Visa in Hong-Kong, entrepreneur visa is discussed critically with the focus on eligibility criteria, Entry and stay of dependants, and length of application.
Eligibility (conditions for entrepreneur visa)
When applying for an investment visa under GEP (General employment policy), this criterion will be used.
You should not have any criminal record
The applicant must have high education standards. The Hong Kong administration insists that applicants should have at least a first degree. For those without a degree, the immigration department insists that they must possess unique technical capabilities backed with relevant documentation.
The application must demonstrate that his/her investment will have a positive impact on Hong Kong economy. The economic impact is assessed and proven using the following criteria.
How much do you intend to put into the investment if the visa is application is successful?
The immigration department only grants investment visa to people with enough capital to put into the business. You must provide proof of the capital investment using balance sheets of the last one or two years.
Also, the applicant should demonstrate the capability to raise funds in other ways to meet the business expenses or expansion. The immigration department wants to get the conviction beyond reasonable doubt that the new business will be profitable and, therefore, helpful to the investor and Hong Kong economy.
The number of employment opportunity created
Using a company operational structure, you will be required to demonstrate the number of job opportunities to be created. From the top management, middle managers, general workers, and even need for part-time staff; you must demonstrate that the company can meet their costs for approximately six months. At every stage, the immigration department will countercheck everything with the business plan and available resources.
For applicants who might have very good business plans that fall within the Hong Kong five government-backed programs, the immigration department will be more thorough. Under the program, the applicant should be a researcher or partner in one of the startups. The five main government-supported programs include;
StartmeupHK Venture Programme administered by InvestHK.
Incu-App, Incu-Bio and Incu-Tech programmes administered by the Hong Kong Science and Technology Parks Corporation.
Cyberport Incubation Programme
Small Entrepreneur Research Assistance Programme and Enterprise Support Scheme administered by the Innovation and Technology Commission.
Design Incubation Programme administered by the Hong Kong Design Centre.
Chinese living abroad and have People’s Republic of China passports can also apply if they meet the above criteria. In particular, the Chinese applicant should have a permanent residence abroad or lived overseas for more than one year.