Hong Kong is a business hub that no one wants to miss. As a business driven economy, the Hong Kong Administration has adopted a number of visas and schemes to encourage investors come and open their operations there. One of the most outstanding of these immigration efforts is the investment visa. The visa falls under general employment policy because the investor moves to Hong Kong as an employee of the company he creates. In this post, we comprehensively look at the investment visa HK lead time.
Investment requirements and eligibility
The objective of the Hong Kong department is to make it easy for investors to come and do business so that the economy can grow. To achieve this, the immigration department requires the applicants to demonstrate how effective their plans would impact the economy of Hong Kong.
To apply for the investment visa, you require the following;
Have no criminal record back at home and in Hong Kong.
(ii) Possess high academic qualifications. The least that the immigration department will allow is an undergraduate.
(iii) You must have a limited liability company incorporated in Hong Kong
(iv) Demonstrate that you will have a direct impact on the Hong Kong economy.
To apply for the investment visa, you must provide the following documents. Remember that the immigrations department could call you any time to seek clarifications or request additional documentation.
• A duly filled and completed application form.
• A copy of personal passport.
• Hong Kong identity card (if any)
• Proof of academic qualification such as degree certificates.
• Business registration certificate.
• A comprehensive business plan.
• Copies of your overseas residence.
• Personal bank statements.
Preparing the business plan
The most outstanding thing in the investment visa application is the business plan. This is the blueprint that demonstrates the nature of the business an applicant is getting into. Is it in the financial sector, export/import, financial, telecoms, or value addition? Here, it is important to carefully select the niche properly to make sense both theoretically and practically.
The business plan should capture the financial status of the business for the next two years. This is done using a profit and loss account. It is at this point that the investor demonstrates the viability of the investment to the Hong Kong economy. Because experts will evaluate the plan, it is important to make a good impression at this stage.
Demonstrate the financial strength through personal, and business accounts balance sheets. At this point, you should demonstrate that you have the resources and ready for mobilization once allowed to move. Because your limited liability company is already incorporated, the immigration department will most likely approve the visa if you are in progress to anchor the business financially.
Other things to capture on the business plan include the employment positions to be created, organization structure, and business address. The department must be convinced beyond reasonable doubt that your business idea is viable.
Procedure for application and lead time
Once your application is complete, it should be submitted together with all the necessary documentation to the Hong Kong Immigration Department. The application will take about three to five months.
During processing, the immigration department may require additional information, clarification, or documents. It is important to ensure that such enquiries are replied to promptly to ensure that the immigration department makes the right decision.
If your application is approved by the immigration department, you will be notified to collect and finish other formalities. If the application is declined, you are free to apply for a review of the decision. Besides, you can also re-apply after some time to see if the department will accept your request.