Entrepreneur Visa allows people who want to run their businesses enter and stay in Hong Kong. The Visa falls under General Employment Policy, and the investor is allowed entry as an employee of the business he establishes.
The immigration department emphasizes that they allow the entrepreneur to enter Hong Kong if he/she makes a positive impact on the economy. When the entrepreneur Visa is up for renewal, your business is subjected to Business Review to determine its progress.
What is a business review?
Business review is a comprehensive evaluation of the investment status after being allowed to enter and operate with an entrepreneurship visa. As you make the application for entrepreneur visa renewal, the following documents are required; financial accounts, all details of staff employed in the business, proof of business, office tenancy arrangements, and tax return files.
If the immigration department establishes that your business is fine, growing from strength to another, and employing more staff, the visa will be renewed. However, if they note that you are struggling, you will be required to go for another review in the subsequent renewal.
Getting the entrepreneur visa renewed without going through a review
Being subjected to progressive reviews can be distressful because you may never know when the immigration department says the business can no longer operate in Hong Kong. To be moved from the business review category to admin extension, there are only two ways for it.
- Strengthen the business operations: This can be accomplished by injecting more capital, marketing the business aggressively, and expanding to neighboring regions. For example, you can liaise with companies back at home to expand the business operations into the import and export segment.
- Create more employment: This is the main thing that the Hong Kong administration wants to hear all the time. More employment comes with business growth at all levels. Consider creating more networks with other businesses in and outside Hong Kong to grow the business so that more opportunities can be available.