Unlike other countries that have direct citizenship programs such as the Green Card of the United States, Hong Kong is different. The Special Administrative Region of China does not have such programs but has a system of indirectly allowing investors to enter, do business, and get right of abode after 7 years.
As a trade hub in South East Asia, Hong Kong has cut a unique niche that no multinational want to miss.
A closer look at the Hong Kong Market
Hong Kong operates as a free port and an independent administrative region of China. Ever since the colonial era after being taken by the British during the Opium war and even after China regained its sovereignty, Hong Kong has maintained total independence in all aspects except military and political system.
Subsequent administrations have advanced the independence by strengthening the business economy driven by free trade, low tax regimes, stable legal & political system, and sound banking system. Opening a business in Hong Kong provides investors with a great opportunity to reach the huge market in China and entire South East Asia. It is because of these benefits and much more that getting Hong Kong citizenship is highly treasured.
There are two main methods of getting Hong Kong citizenship by investment
The business investment VISA
The investment visa targets people who anticipate being actively involved in business. To get this visa, an entrepreneur is required to demonstrate that the investment he/she want to make will bring significant impact to Hong Kong. The following are the main requirements for this Visa.
- You must have incorporated a limited liability company
- You have to present a business plan detailing the nature of the business, market analysis, competitor analysis, operational targets, and profit anticipation
- A business structure that details the employment opportunities that the investment will create in Hong Kong.
- Demonstration of financial capability to implement the outlined business plan. The financial strength has to demonstrate the investment to be put into the business right away and ability to mobilize additional resources if the need arises
Once the business investment visa is approved, it will be subject to renewal after two years. Here, you have to demonstrate that the business is progressing as anticipated and increasing in momentum. If the business is declining, the immigration department might reconsider not to renew the visa. The right of abode/ permanent residence can only be applied after staying for 7 years. Investment visa can be obtain under 6 to 9 weeks.
The Capital Investment Entrant Scheme
The Capital Investment Entrant Scheme was started in 2003 to help investors who wished to enter Hong Kong but did not want to get involved directly in business. The scheme requires that you invest 10 million Hong Kong dollars to be managed by experts in various capital markets.
Even though you are not directly trading using the cash, temporary residence of 2 years is assured with permanence residence coming later after 7 years. Under the scheme, you should not have a criminal background and must be able to support yourself and dependants without relying on the invested cash.