Pleased to see our clients Steve Mansfield and David Lambert got a shout out in today’s SCMP in the wake of an interview I did with Tiffany Ap last week.
She asked if I’d be prepared to introduce a few of our clients with a view to interview and, whilst the piece largely skated over the intricacies of the Hong Kong investment visa process, she did manage to get to the crux of the challenge (jobs for locals!)
As the SCMP has a paywall, I expect that the link above will not be accessible for too much longer, but you can read the PDF of the article here.
There was a smaller than average turnout but the numbers were perfect for the cosy, ‘mingle and talk’ environment afforded by Centre O in Wanchai last Thursday night.
I was there to talk about the challenges faced by foreign national entrepreneurs in securing the necessary immigration permissions to join in or establish businesses here in Hong Kong.
The cut and thrust of my presentation was how to go about applying for – and getting approved – a Hong Kong investment visa without the need to engage any professional help.
We took the opportunity to record the session but it was all arranged ‘ad hoc’ and at the last moment so the lighting and audio are poor.
That said, there’s 90 minutes of “how to” content which could be broken up into interesting video or audio nuggets so we’re still thinking through what to do with it.
Moreover, the 10 Must Have Hong Kong Investment Visa Resourcesdiscussed in the talk are available for you to get on with your own investment visa application – so why not take a look there now?
The approvability tests for both employment visas and investment visas, whilst fundamentally different, call for an examination of the applicant’s special skills, knowledge and experience which can be said to be of value to Hong Kong.
In the case of an employment visa, the focus is squarely on the personal profile of the applicant, while in an investment visa application, the background of the applicant is only a minor part of the consideration exercise.
You see, for an investment visa, the approvability test looks for proof that the applicant can make a substantial contribution to the economy of Hong Kong.
A small part of this is the applicant’s track record in business, meaning his skills, knowledge and experience which can be deployed to ensure that the business stands a good chance of becoming a solidly entrenched commercial enterprise.
The major part of the investment visa approvability test, though, is the business itself the funding available, commerce in hand and the potential for the creation of local jobs.
But in the case of an employment visa, the quality of the applicant’s CV is vital.
For an investment visa, you can have almost no experience in prior business ownership and still get approved.
For an employment visa, however, no related experience usually no means no visa to boot.
Conceptually, it is possible to promote an application for a Hong Kong investment visa if you have entered into either a partnership at will or a sole proprietorship business in the HKSAR.
But what the Hong Kong Immigration Department make of this is arguably not going to do your case any favours!
You see, the Immigration Department systems are geared towards the Hong Kong incorporated limited liability company as the preferred business vehicle for your time spent in Hong Kong as a business investment visa holding foreign entrepreneur.
Indeed, all of their standard communications and documentary requisition lists detail the exact papers availed when your business has been duly established as a limited liability company here.
Even though establishing a sole proprietorship or partnership at will is just a simple matter of applying (and paying) for a Business Registration Certificate issued by the Inland Revenue Department, by not formally incorporating your business in Hong Kong, you are sending a message to the Department about your level of sophistication as you prepare to undergo your act of investment here.
The Hong Kong Immigration Department might conclude that you’re simply trying to do business ‘on the cheap’ – which is the antithesis of what the they expect to see when considering an investment visa application.
For many foreign national residents, it can take a couple of runs at living in Hong Kong before they catch the bug and realise they want to call the HKSAR their permanent home. Inadvertently, however, such folks can break their continuity of residence and also find themselves back to square one when it comes to both short and long stay immigration status here.
QUESTION
I was in Hong Kong on a working visa for almost four years and left on 23rd June 2011. My visa at the time was still valid until this coming March 2013.
Since then I have been back twice. Once on 24th December 2011 for a week (leaving 1st Jan 2012) and again a year later on 1st Jan 2013 for a month.
I may or may not be moving back in a few months time.
Is there any point in trying to work out if I could qualify for a new visa now or is it best to wait until I know if I am coming back?
I ask because the follow up question is, if I do move back in say March/April, what are my odds of being able to get PR 7 years after my initial arrival and visa in September 2007?
Last week, just before the end of the year, the Government of the HKSAR put out a flurry of information on the performance of the Quality Migrant Admission Scheme since its inception six years ago.
Consequently, the balance 13% (311 – 25 each year) were made up of various other nationalities with seemingly no single country comprising more than 3% of the total number of approvals issued.
So, for those of you ready to throw your hat in the ring and get in the queue for your QMAS lottery ticket, you can now be assured that only 27% of all applications received ever get approved and 87 % percent of those that do get approved go to Chinese, Australian, Canadian or US nationals.
Of course, my maths is rubbish – my discipline is law not numbers even though I did graduate from the LSE – so you’re welcome to pick holes in my interpretation of the stats.
But it can’t be denied.
The Selection Committee unequivocally favour Mainland candidates and your “talent” can not be humdrum run of the mill (mid-ranking corporate warriors look out).
Committee Chairperson Marjorie Yang said they looked for energetic and innovative applicants who could bring a wealth of professional skills and contribute to the city’s diversified development.
“We try to attract talented people who have a good understanding of Hong Kong, because Hong Kong is much more than just a financial centre. We have many opportunities for people of different talents,” she added.
Population expert Paul Yip has called for a revamp arguing that QMAS doesn’t actually address the needs of our society.