Certainly, every applicant for an investment visa needs to have a ‘planned business’ but it certainly doesn’t follow that, in order to get an approval, the Hong Kong Immigration Department insist on seeing a formal business plan as such.
This is an important point because so many investment visa applicants that come our way have written up at least a basic document which sets out how they see their business playing out over the first couple of years. This is just good planning.
These raw documents cannot properly be said to be formal business plans (as in a 60 page document with extremely detailed all-scenarios-covered projections, risk factors, use of funds, competitor analyses, IP policies and the like).
Most entrepreneurs starting out for the first time wouldn’t know where to begin in crafting a document like that.
However, this documented material does provide the essential elements of the argument underpinning the investment visa application and is an absolute gold mine of information for an immigration consultant who is skilled at articulating an investment proposition in the context of current Hong Kong immigration policy.
When called for by non-specialist immigration practitioners, a formal business plan just puts an added documentation burden on the client and relieves the service provider of the need to properly argue the case.
Don’t let them get away with it!
You pay good money to consultants like meto get your investment visa approved so make us earn our keep. Most definitely have your plans, intentions and money flows written down, but the HKID no more want to read a 60 page business plan in support of your application, than you want to write one.
VisaGeeza.Ai – Making Hong Kong Immigration A Lot Easier
If you have an employment visa and have stopped working for your sponsoring employer, no matter what the reason, you will not have to leave Hong Kong straight away.
The HKID provide you with enough time to make arrangements to find an alternate employer or, if you prefer, to lay the groundwork to start your own business.
Ninety-nine per cent of the time, the Hong Kong Immigration Department will allow you to carry on living in Hong Kong until your current visa expires but you’re expected to leave at that time.
But if you find another employer or have made ready to start your own business you can apply for new visa permissions to continue living and working in Hong Kong – and get a 12 months extension to your present period of stay in the process.
But in either case you have to make the applications and get the Hong Kong ID’s approval before you start working – otherwise you’ll be breaking the law.
VisaGeeza.Ai – Making Hong Kong Immigration A Lot Easier
The former requires an applicant to establish or join in a Hong Kong business actively, while the latter is just a matter of passively investing in the HKSAR.
The Capital Investment Entrant Scheme requires at least ten million Hong Kong dollars while the Business Investment Visa does not require any such minimum.
Instead, you need to have sufficient capital to give effect to a business plan which will demonstrate to the Hong Kong Immigration Department that you can make a substantial contribution to the economy of Hong Kong.
Of course, this is like asking how long is a piece of string.
So, instead of focusing on a specific minimum number, it is better to produce a set of financial projections that show the following:
1 You can finance the first 12 months of your business and life in Hong Kong using your investment funds through until such a time as you have revenues, then profits, coming into your company.
2 You can create at least 1 or 2 local jobs in the first 12 to 18 months of operation – and have the money to fund your business through to this time – and beyond.
3 You have sufficient capital to give effect to your overall business plan such that it stands a reasonable chance of becoming a solidly entrenched commercial entity in its own right before too long.
So it all depends on your business plan, your prior experience and the overall story.
Business investment visas can be approved with cash in the bank at just 300,000 or 400,000 Hong Kong dollars if your story is a good one but be aware, bottom scraping should be avoided at all costs if you want to sleep well at night whilst the Immigration department are considering your application!
VisaGeeza.Ai – Making Hong Kong Immigration A Lot Easier
Hong Kong Immigration Department Increase Service User Fees
New Visa Fee Structure for Visa Applications Effective from 26 February 2025 (TODAY)
Starting from 11 a.m. on 26 February 2025 (the “commencement time”), applicants submitting an application under any of the visa types listed below, will be required to pay an application fee and a visa issuance fee upon approval, based on a two-tiered fee structure.
Applicable Visa Types
The new fee structure applies to the following visas type:
Top Talent Pass Scheme
General Employment Policy
Admission Scheme for Mainland Talents and Professionals
Quality Migrant Admission Scheme
Immigration Arrangements for Non-local Graduates
Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents
New Capital Investment Entrant Scheme (excluding applications for unconditional stay or visit visas)
Capital Investment Entrant Scheme (excluding applications for unconditional stay or visit visas)
Technology Talent Admission Scheme
Vocational Professionals Admission Scheme
New Fee Structure
Upon submitting an application under one of the listed visa types, the applicant (principal or dependant) must pay an application fee.
If approved, the corresponding visa issuance fee must be paid according to the two-tiered fee structure before collecting the visa.
Type of Applicant
Item
(HK$)
Principal Applicant / Dependant
Application Fee Per Applicant (non-refundable)
600
Visa Issuance Fee (for a stay of more than 180 days)
1,300
Visa Issuance Fee (for a stay of 180 days or less)
600
Calculation of “Relevant Period”
The “relevant period” under the new visa fees schedule is determined as follows:
Ordinary Visa / Entry Permit
The relevant period is the fixed limit of stay stated on the visa/permit.
Example: If the stated period is 36 months, 24 months, 2 weeks, or 7 days, that period applies.
If the stated period is 6 months or more, the visa issuance fee is HK$1,300.
Last Date Under Limit of Stay
Relevant period = Last date under the limit of stay – Date of visa issuance fee payment.
Example: If the last date under the limit of stay is 31 March 2025, and the payment date is 1 March 2025, the relevant period is 30 days.
Extension of Stay (No Change in Condition of Stay)
Relevant period = Last date under new limit of stay – Last date under original limit of stay.
Example: If the last date under the new limit of stay is 31 March 2025, and the original limit ended on 1 March 2025, the relevant period is 30 days.
Change of Condition of Stay (e.g., Change of Employment)
With no change to the limit of stay: Relevant period = Last date under the limit of stay – Date of visa issuance fee payment.
With extension of the limit of stay: Relevant period = Last date under new limit of stay – Date of visa issuance fee payment.
FAQs
1. Do I need to pay the new visa issuance fee if my application was submitted before the commencement time but approved after?
No. Applications submitted before the commencement time will be charged based on the original fee structure.
2. If my application was submitted and approved before the commencement time but I collect my “e-Visa” afterward, do I need to pay the new visa issuance fee?
No. The original fee structure applies to applications submitted before the commencement time.
3. Will the application fee be refunded if my application is refused or cancelled?
No. The application fee is non-refundable in any circumstance.
4. Will the application fee be refunded if I withdraw my application?
No. The fee is non-refundable, and paying the fee does not guarantee approval.
5. What electronic payment methods are accepted for fee payment?
The online payment service will accept:
Credit Cards (VISA, Mastercard, UnionPay, JCB)
Payment by Phone Service (PPS)
Faster Payment System (FPS)
Mainland China Digital Wallets (Alipay, WeChat Pay, UnionPay App)
6. Is there a deadline to pay the visa issuance fee after approval?
Yes. The time limit for payment is specified in the application result notification.
For more details on other visa application fees, please refer to the official Fee Tables provided by the Immigration Department.
Hong Kong Immigration Department Increase Service User Fees
Unemployed Holders of Employment Visas Are No Longer Eligible to Change to Top Talent Pass Visa
Focus Appears To Be On Attracting New Talent & Not Enabling ‘Out of Luck’ Existing Talent
– Click To Download The Guidebook –
In late 2024, the Hong Kong Immigration Department implemented significant yet understated modifications to its Top Talent Pass Scheme (TTPS). These changes have notably impacted the eligibility and application processes for individuals seeking to transition from General Employment Policy (GEP) visas to TTPS status.
Evolution of the Top Talent Pass Scheme
Introduced to attract high-calibre professionals to Hong Kong, the TTPS initially allowed seamless transitions for GEP employment visa holders who met specific criteria:
Category A: High earners with an annual income of HKD 2,500,000 or more.
Category B: Top graduates with recent work experience.
Category C: Top graduates with limited work experience.
This framework enabled GEP visa holders to switch to TTPS status by satisfying the relevant category requirements, offering a two-year period during which they could engage in various employment activities without immigration constraints.
Unintended Consequences
While the TTPS aimed to infuse new talent into Hong Kong’s workforce, it inadvertently provided existing visa holders with a temporary solution to impending visa expirations, especially for those facing unemployment. This loophole allowed individuals to extend their stay without newly contributing to the local talent pool, counteracting the scheme’s original intent.
New Qualification Criteria
To realign the TTPS with its primary objective of attracting fresh talent, the Immigration Department have now introduced a two-stage qualification process for current GEP employment visa holders and Quality Migrant Admission Scheme (QMAS) residents seeking TTPS status:
Stage 1: Applicants must obtain implied consent from their current employer to transition to TTPS status. This involves demonstrating the ongoing existence of the sponsoring employer’s business and the continuation of employment under the GEP employment visa at the time of application.
Stage 2: Applicants must meet the standard TTPS criteria under Category A, B, or C.
This revised process ensures that only individuals with active employment and sponsoring-employer support can transition to TTPS status, thereby enhancing the scheme’s integrity.
More Scrutiny
In response to reports of organized fraud, particularly involving falsified academic qualifications from Mainland China, the Immigration Department has intensified its vetting procedures. All claims of qualifying degrees now require third-party verification, adding extra expense to the process, and there is an increased emphasis on validating evidence of claimed work experience. These measures aim to prevent fraudulent applications and maintain the scheme’s credibility.
Implications
The tightened regulations underscore the HKSAR government’s commitment to attracting genuine talent while preventing exploitation of the system. Prospective applicants should be prepared for a more rigorous application process, including securing employer consent and undergoing thorough verification of qualifications and experience.
Last Words
The recent changes to the Top Talent Pass Scheme reflect Hong Kong’s dedication to maintaining a robust and dynamic workforce by ensuring that immigration policies effectively attract new talent and prevent misuse by existing visa holders. As the city continues to position itself as a global hub for talent, these measures are crucial in upholding the integrity and purpose of its immigration schemes.
A New Way to Quickly & Very Cost-Effectively Secure Sierra Leone Permanent Residency And Citizenship
INTERVIEW
How to Design a Residency by Investment Program from Scratch: The Case of Sierra Leone
Jason Black (JB) the press representative of Hong Kong Visa Centre, interviews Stephen Barnes, a leading figure in the immigration sector in the HKSAR with over three decades of experience. Known as the “Hong Kong Visa Geeza,” Barnes shares his insights into the innovative GO-FOR-GOLDResidency and Citizenship by Investment Program, which he helped develop for Sierra Leone. This in-depth discussion explores the program’s inception, structure, and transformative potential for Sierra Leone’s economy and global appeal.
JB: Could you provide an overview of your background and experience in the immigration sector?
Stephen Barnes: My journey in the immigration field spans over 30 years. After graduating from law school in 1993, I launched my career as a Hong Kong immigration consultant, earning the nickname “Hong Kong Visa Geeza” for my innovative approach to navigating immigration complexities. Inspired by Seth Godin’s “Purple Cow” philosophy, my focus has been on creating standout immigration services.
This ethos underpins the GO-FOR-GOLD program, which embodies innovation and utility, balancing the needs of investors and government administrators alike.
Origins of the GO-FOR-GOLD Initiative
JB: How did the opportunity to develop a permanent residency and citizenship program for Sierra Leone arise?
Stephen Barnes: The collaboration was rooted in long-standing relationships with West African legal professionals, dating back to 2012 during Hong Kong’s Capital Investment Entrant Scheme. These connections introduced us to Sierra Leone, which sought a unique Residency by Investment (RBI) program aligned with its economic vision.
President Julius Maada Bio’s aspiration to position Sierra Leone as a regional trailblazer played a pivotal role. His vision encompassed leveraging natural resources to attract investment, diversify the economy, and solidify the nation’s reputation as a progressive and secure jurisdiction. Sierra Leone’s story – a thriving democracy with English as its lingua franca, a robust banking system, and significant human and natural resources -was compelling. However, to attract investment, the country needed an innovative, investor-friendly program that could reflect these qualities.
Program Structure: Residency and Citizenship Pathways
JB: The GO-FOR-GOLD program is quite distinctive. Could you outline its structure?
Stephen Barnes:GO-FOR-GOLD offers a blend of permanent residency (PR) and citizenship opportunities linked to Sierra Leone’s abundant gold reserves. Launched in December 2024, the program allows investors to secure lifetime residency rights by purchasing physical gold, stored securely in government vaults for five years.
Permanent Residency:
Single Applicant:$65,000 + 1 kilogram of gold.
Nuclear Family (up to 4 members):$75,000 + 1 kilogram of gold.
Extended Family (up to 8 members):$100,000 + 2 kilograms of gold.
Residency approval is granted within 40 days, providing swift access to Sierra Leone’s opportunities.
Citizenship Options:
Heritage Naturalization: Designed for individuals of African descent reconnecting with their roots, this pathway costs $100,000, plus $10,000 per additional family member. Approval is typically granted within 60 days.
Fast-Track Naturalization: This expedited option costs $140,000, plus $10,000 per additional family member. The process is completed in 90 days, offering rapid access to citizenship and its associated benefits.
Both options include integration into ECOWAS, granting mobility across 15 nations and access to regional trade and investment opportunities.
Key Design Considerations
JB: What factors influenced the program’s design?
Stephen Barnes: The program’s success stems from meticulous planning:
Legal Framework: Sierra Leone’s Chief Immigration Officer holds discretionary powers to grant residency, which we utilized while ensuring compliance with constitutional and regulatory standards.
Economic Synergy: By tying residency to gold investments, the program supports Sierra Leone’s mining sector and offers investors a secure, tangible asset aligned with LBMA standards.
Accessibility: Remote application processes and streamlined approvals within 40 days enhance the program’s appeal to global investors.
Security: Gold-backed investments and independence from global financial reporting systems provide privacy and stability.
Inclusivity: Extended family packages and pathways to citizenship ensure long-term benefits for multiple generations.
Development Process
JB: What were the initial steps in creating the GO-FOR-GOLD program?
Stephen Barnes: The journey began with a feasibility study covering legal, economic, and social aspects. We engaged with government officials, local stakeholders, and economic experts to align the program’s goals with national priorities. Benchmarking against global RBI/CBI programs informed our innovative approach.
Stakeholder Engagement: Transparent, iterative discussions with officials from immigration, justice, and finance departments were essential. This ensured alignment and trust across all levels of government.
Operational Excellence: We recommended establishing a dedicated administrative unit, integrating advanced technology for application management, and training staff to deliver the program efficiently and securely.
Marketing & Global Appeal
JB: How do you plan to attract investors to the program?
Stephen Barnes: Marketing strategies include participation in global investment forums, partnerships with established Residency & Citizenship By Investment practitioners, and targeted digital campaigns. High-quality content, such as video storytelling, enhances outreach, while the exclusive GFG Club connects investors with local leaders and opportunities in Sierra Leone.
Long-Term Vision
JB: What impact do you foresee for the GO-FOR-GOLD program?
Stephen Barnes: This initiative positions Sierra Leone as a leader in innovative investment migration solutions. By leveraging its natural resources, the program attracts meaningful foreign investment, fosters economic diversification, and enhances regional integration through ECOWAS.
Closing Thoughts
JB: Any advice for other immigration professionals designing similar programs?
Stephen Barnes: Focus on alignment with national priorities, robust legal frameworks, and operational efficiency. Creativity and innovation are essential- each program should offer something unique and impactful. Africa, with its untapped potential, is fertile ground for groundbreaking initiatives.
After waaaay too much time had passed I finally made it to my first StartupsHK event held at the Hivelast week. Casey Lau, serial entrepreneur and 15 year veteran of the Hong Kong start up scene, put on a great show last Thursday, which I am pleased to share with you here on the Hong Kong Visa Geeza Blog.
20 years ago, when I started my first business here, straight out of law school, there was absolutely nothing going on amongst young and new-to-business entrepreneurs, beyond the rather muted and tepid ‘young chambers’ and ad hoc business networking circles. Had there been even 1% of the support back then as there is today, I feel certain, knowing what I know now, that at least 3 mistakes I have made in my career would likely have been avoided. And all key mistakes at that.
Thankfully, foreign nationals setting up in business in Hong Kong these days have never had it so good. Help, support, advice, intros, cheap co-working spaces and almost giveaway pricing on professional services are all but one internet click away. Our increasingly connected foreign national entrepreneurial economy is growing a solid pair of legs now. With the ground we’re breaking with our own internet focused service model, along with a couple of tricks we still have up our sleeve, there’s a lot of creative disruption in the making in this town and life is about to get very interesting. It’s a great time to be in business in Hong Kong.
So, go get your investment visa sorted, and come join in the fun!
VisaGeeza.Ai – Making Hong Kong Immigration A Lot Easier
