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So, I’ve decided to share more details of our business strategy with you (building on My Story).
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VisaGeeza.Ai – Making Hong Kong Immigration A Lot Easier
One-Man Investment Entrepreneur Visa For Hong Kong
If you’re a one-man Hong Kong investment entrepreneur visa applicant seeking to establish a business here what’s the likelihood of success?
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One-Man Hong Kong Investment Entrepreneur Visa – Can You Get One?
A one-man Hong Konginvestment entrepreneur visa is hard to get but not always impossible where the company starts out small. The infographic above sets out exactly what is required in your approach to the Hong Kong Immigration Department.
When considering applying for a business investment visa as an entrepreneur in Hong Kong, be prepared to face one of the most challenging visa application processes.
However, with careful planning, persistence, and guidance, you can navigate this complex procedure successfully.
If you already have a successful, well-established business overseas, for example, you are at a significant advantage in the application process.
One-Man Hong Kong Investment Entrepreneur Visa – Improve Your Chances of Success
Follow these steps to improve your chances of obtaining the visa:
Understand the requirements: Familiarize yourself with the general requirements for a business investment visa and apply them to your entrepreneurial circumstances. Be aware of common misconceptions, such as the need to pay a certain amount of tax or invest a specific sum of money. Focus on demonstrating your ability to make a substantial contribution to Hong Kong’s economy, as this is the most critical aspect of the application. The approvability test of substantial contribution to the economy of Hong Kong entails several factors, including the creation of local jobs, the introduction of new skills, technology, or knowledge, having a properly set up office in Hong Kong and having sufficient funds to materialize your business plan. The generation of revenues to be able to show sustainability and/or other economic benefits to Hong Kong will all also be required. To satisfy this test, you’ll need to present a well-prepared business plan that clearly outlines your business’s objectives, market analysis, financial projections, and operational strategies.
Show the Immigration Department that you have big plans for your business in Hong Kong: Be prepared to back up your claims with evidence and documentation, as this will be crucial in demonstrating your commitment and potential for success. This may include a track record of entrepreneurship, financial forecasts for the new Hong Kong business, and any relevant qualifications, experience, or industry connections that demonstrate your ability to make a substantial contribution to the Hong Kong economy.
Seek professional assistance: The business investment visa application process is lengthy and challenging. If it’s within your means, consider seeking the help of professionals to guide you through the entire procedure. Their expertise can help you avoid common pitfalls and improve your chances of approval. Professional assistance can be particularly helpful in preparing a strong business plan and compiling the necessary documentation to support your application.
Secure a strong sponsor: Engage a sponsor who is a bonafide Hong Kong resident, preferably a permanent Hong Kong identity card holder. If possible, find a business or commerce-related party who can demonstrate their willingness to support and sponsor your business endeavors. Their involvement will send a strong message to the Immigration Department and contribute to a more favorable consideration of your application. A reputable sponsor can also provide invaluable connections, resources, and industry knowledge that can enhance your business’s potential for success in Hong Kong.
Be mindful of the Catch-22:As a current visitor in Hong Kong, be aware of the need to submit your application as soon as your intentions to join or start the business have crystallized. Failing to do so may leave you vulnerable to prosecution for breach of conditions of stay. This Catch-22 highlights the importance of getting your application in as soon as possible, so the Immigration Department is aware of your intentions and can consider your circumstances accordingly.
Choose the appropriate business structure: Before applying for a business investment visa, set up a limited liability company to demonstrate your commitment to the business as a limited liability company structure offers more credibility, protection, and stability, which can enhance your application’s chances of approval.
Be patient and persistent: The business investment visa application process takes four to six months to finalize and can be emotionally and time-consuming. Stay committed to your goals, seek professional assistance when needed, and maintain a positive outlook throughout the process. Don’t be disheartened if your application encounters setbacks or delays; continue refining your business plan, gathering supporting documentation, and working towards your objectives.
Prepare a business plan: A well-prepared business plan is crucial to demonstrating your potential for making a substantial contribution to the Hong Kong economy. Your business plan should include a detailed market analysis, marketing and sales strategies, competitive analysis, operational plans, and financial projections for at least three years. Ensure that the plan is realistic, feasible, and aligned with the current market conditions and industry trends in Hong Kong.
Provide detailed financial projections: As part of your business plan, prepare financial projections that demonstrate your business’s potential for generating substantial revenue or other economic benefits for Hong Kong. This may include profit and loss statements, cash flow forecasts, and balance sheets. Be prepared to explain the assumptions and calculations behind these projections, as the Immigration Department may scrutinize them closely.
Highlight your relevant skills, experience, and qualifications: Showcase your skills, experience, and qualifications that are relevant to your proposed business in Hong Kong. This may include your educational background, professional experience, industry certifications, and any previous entrepreneurial endeavors. Demonstrating your expertise and ability to manage and grow a successful business can significantly strengthen your application.
Provide evidence of sufficient funding:The Immigration Department will want to see evidence that you have enough financial resources to support your business and yourself during the initial stages of operation. This may include bank statements, investment portfolios, and other financial documents. Ensure that the funds are readily available and can be transferred to Hong Kong as needed. By following these steps, you can maximize your chances of obtaining a business investment visa as an entrepreneur in Hong Kong.
Consider The Start-Up visa option:The Hong Kong Immigration Department has a special visa arrangement called the Start-up Visa to attract entrepreneurs, especially those with innovative ideas and businesses supported by a government-accredited program. Under the Start-up Visa, if your start-up is supported by a recognized Hong Kong government-backed program, your chances of obtaining a visa under the General Employment Policy (GEP) may be significantly improved.
Some of these government-backed programs include: (a) Cyberport Incubation Programme (b) Design Incubation Programme (c) Hong Kong Science and Technology Parks Corporation’s Incu-App, Incu-Bio, and Incu-Tech programs (d) Small Entrepreneur Research Assistance Programme (SERAP) by the Innovation and Technology Commission (e) Film Production Grant Scheme by Create Hong Kong.
If your start-up is supported by one of these programs or another government-accredited organization, the Immigration Department will consider your application more favourably. Such endorsement increases your chances of obtaining the visa, as it demonstrates the potential of your business to make a substantial contribution to the Hong Kong economy.
While the Start-up Visa can provide a significant advantage, it is essential to note that you will still need to meet the other requirements of the General Employment Policy. This includes having a good educational background or relevant professional experience, a clear employment contract with terms matching the local market standards, and evidence of your ability to support yourself and your business without relying on public assistance. Consequently, if your start-up is supported by a government-accredited organization, your visa application is likely to be viewed more favorably by the Hong Kong Immigration Department. However, you must still ensure that you meet the other requirements of the General Employment Policy and provide all necessary supporting documents to maximize your chances of success.
One-Man Hong Kong Investment Entrepreneur Visa – Documents Required & Family Considerations
Here is a summary of the required documents and information which you should endeavour to supply if already available. You can do all ofthis online now.
Offline, you can submit application forms ID999A (applicant) and ID999B (sponsor), along with a recent photograph, a copy of your passport’s details page and your current visa if you are in Hong Kong (including for all your accompanying family members seeking dependant visas – legal spouse and children under the age of 18) birth and marriage certificate, an up-to-date CV, photocopies of graduation certificates and proof of academic qualifications, copies of prior employment references and testimonials, a letter of engagement or employment contract with your own business entity, a copy of your Business Registration Certificate, copies of the latest audited financial report and/or management accounts (if available), the latest profits tax return, and the most recent Annual Return filed with the Registrar of Companies (FORM NAR1).
Include company brochures, product and/or services information, promotional materials, general proofs of business, office tenancy agreements, and documents relating to any substantial overseas parent company. Provide a Colour printout of your company’s website, bank statements for the last six months, a confirmed client list, a chart or graph showing projected turnover for the next 24 months, proof of monetary injections into the business, three color photographs of your company’s office premises, a copy of your current staff list with relevant details, copies of Mandatory Provident Fund Certificate, debit note and bank deposit receipt, copies of Employees’ Compensation Insurance Policy, debit note and receipt, and a complete business plan if one has already been written.
A dependent’s application may be approved if there’s proof of a genuine relationship, no detrimental record, and the sponsor can provide financial support and suitable accommodation. The dependent’s length of stay is linked to the sponsor’s, and dependents are required to leave Hong Kong when the sponsor leaves. Dependents are allowed to work in Hong Kong under existing policy. High quality scan marriage and birth certificates need to be in English or Chinese or otherwise provided as official certified translations. If children are soon to turn 18 years of age, their eligibility to qualify for the visa will end when they reach majority age (although once issued, such visas can be readily extended after the child reaches 18).
Moreover, any such children included in the application must be unmarried and self-evidently still dependant on the sponsoring parent. Step children qualify for visas but the consent of the second biological parent might well be required in writing as part of the visa approval process.
One-Man Hong Kong Investment Entrepreneur Visa – What About Your Visitor Visa Status?
In the exercise of applying for this visa, you are not permitted to formally engage in any commercial activities as a visitor other than those preparatory to the commencement of your business until and unless your visa application has been approved.
Moreover, if your family are in Hong Kong with you at this time, children are not permitted to attend school under their visitor permissions.
It normally takes ImmD 4-6 months to finalize a business investment visa application for an entrepreneur and family and the mere fact of you being in Hong Kong while they are processing your application doesn’t avail an automatic right to an extension of your present limit of stay as a visitor. You will thus need to arrange a means to extend your visitor permissions if they are going to expire before your approval comes through.
Do not be tempted to overstay under any circumstances.
You can apply at the Immigration Department directly for an extension but they generally do not encourage this as it involves a lot of time and resources for them to manually process an extension of stay. Generally, ImmD prefer that you exit and re-enter Hong Kong if you need to stay compliant. You can do this via same-day IN/OUT to Macau or Shenzhen easily enough (assuming you have a visa for China). Be sure to take proof of your substantive visa application reference numbers with you if you undertake the ‘Shenzhen Shuttle’in this fashion. The ImmD Officer at the point of arrival back in Hong Kong might want to see this if you tell him the reason for your ‘double back’ is to secure a defacto extension to your visitor permissions until your main applications have been approved.
VisaGeeza.Ai – Making Hong Kong Immigration A Lot Easier
Postgraduate Students in Hong Kong – Now Free To Work
Effective from November 1 (today), there will be a provisional exemption for full-time non-local postgraduate students from the constraints associated with part-time employment.
This provision is set to be on a pilot basis, spanning a duration of two years.
Postgraduate Students in Hong Kong – Previously Constrained
Prior to this policy adjustment, foreign students granted permission to undertake full-time postgraduate studies at locally accredited institutions in Hong Kong were furnished with a “No Objection Letter” (NOL) by the Immigration Department (ImmD).
This permitted them to engage in part-time work on their respective campuses, limited to 20 hours weekly. They were also entitled to participate in curriculum-related internships and secure summer employment opportunities.
Postgraduate Students in Hong Kong – Free To Work 20 Hours Per Week
This recent pivot, as highlighted in the Chief Executive’s 2023 Policy Address, entails a two-year hiatus from these pre-existing limitations, commencing today.
The aim is to offer international students a broader horizon to explore employment opportunities during their academic tenure in Hong Kong.
It’s envisioned that this will not only enrich their professional experiences but also potentially entice them to consider Hong Kong as a long-term career destination after their academic pursuits.
ImmD is set to organize informational sessions for educational institutions to avail the relevant details of this new provision.
Postgraduate Students in Hong Kong – Updated NOL Letters
Students who are beneficiaries of this initiative will receive the updated NOLs via their institutions.
It appears there’s no onus on eligible students to undergo a separate application process to avail of this concession and those post-grad students who get their visas or entry permits from today onwards will receive revised NOLs in alignment with the new provisions.
Navigating the complexities of immigration law can be challenging, particularly when it comes to dependent visas in Hong Kong. One question that often arises is whether a person can get Hong Kong dependent visa sponsorship more than once, with different spouses. The answer, according to Hong Kong’s administrative rules, is yes, provided certain conditions are met.
The Role of Marriage Cessation Evidence
The first requirement is to provide evidence of the cessation of your legal marriage to your previous sponsor. This means you must be legally divorced from your previous spouse and have entered into a genuine marriage with your current spouse. The Immigration Department of Hong Kong requires proof of these changes in your marital status to ensure the legitimacy of your new dependent visa application.
Sponsorship Criteria for the New Spouse
Your new spouse, who will be your sponsor for the dependent visa, must demonstrate the ability to provide for your basic needs. This includes food and housing, which are standard criteria for qualifying for this type of visa. If you have previously held a dependent visa, you would be familiar with these requirements.
The Impact of Previous Dependent Visa Experience
Having held a dependent visa with your previous spouse, from whom you are now divorced, does not preclude you from being sponsored for a dependent visa by your new spouse. As long as you have remarried and your new spouse can meet the sponsorship requirements, you are eligible to apply for a dependent visa. The fact that you have been through the process before does not affect your eligibility.
Conclusion: Second-Time Sponsorship is Possible
In conclusion, immigration law in Hong Kong does not prevent you from being sponsored for a dependent visa a second time, with a new spouse. As long as you can provide evidence of the end of your previous marriage and the legitimacy of your new one, and your new spouse can meet the sponsorship criteria, there’s no reason why you can’t be successful in this application.
What you need to know in a nutshell and all in one place
The Entrepreneur Visa Application Guide
This Hong Kong Entrepreneur Visa Application Guide in a nutshell provides all your need to know about Hong Kong’s specific visa initiative for international business founders looking to establish and run a venture in the HKSAR.
Known as the Entrepreneur (Business Investment) Entry Visa, this specialized visa essentially functions as an for-specific-purpose employment authorization, granted to the business owner who also serves as an employee in their Hong Kong-based company.
The primary factor for the issuance of the Hong Kong Entrepreneur Visa is the applicant’s requirement to demonstrate that the business will substantially benefit Hong Kong’s economy. This visa also permits the inclusion of one’s spouse and dependent children under the age of 18 years.
Additionally, the visa holder is qualified to apply for permanent residency after 7 years. Initially issued for a one-year duration, the visa can be extended as long as the business continues to be sustainable, usually in 2 or 3-year increments, business performance depending.
This post aims to nutshell-outline the qualification requirements, application steps, required paperwork, and other pertinent details for those interested in applying for the Hong Kong Entrepreneur Visa.
For more information on other visa options in Hong Kong, consult the Hong Kong Visa Handbook.
Hong Kong Entrepreneur Visa Application Guide Video
Hong Kong Entrepreneur Visa Application Guide Elements
Investment Parameters
Qualifying Requirements
Necessary Documentation
Business Strategy
Submission Protocol and Timeline
Refusal
Accompanying Family Visas
Expert Help
Visa Extensions
Permanent Residency
Investment Parameters
Although there’s no explicit financial commitment required to apply for this specialized visa, ImmD scrutinize your business blueprint during the application process. It’s crucial to allocate adequate resources to cover both the launch and at least the first 2 quarters of business operations.
Applicants must establish that their business will have a meaningful economic impact on Hong Kong, such as employment generation, local sourcing, and market penetration.
Two-year business strategy plan, elaborating on planned operations, capital investment, local employment creation, and any physical office establishment plans
The business registration certificate is a document issued by the Hong Kong Business Registration Office. The certificate includes the details of the company. You can apply for a business registration certificate during company incorporation. A service provider, such as a company secretary, lawyer, or advisory firm, can apply for the certificate on your behalf. The required documents for business registration include:
The company’s name
The company’s registered address
A description of the company’s activities
The company’s directors’ details
Sponsor Documents
For business sponsors:
Completed Sponsorship Form ID999B
Business registration certification from the Hong Kong Inland Revenue Department
For individual sponsors:
Completed Sponsorship Form ID999B
Hong Kong ID photocopy
All submitted documentation must be either in English or Chinese or professionally translated into one of these languages. The Immigration Department will undoubtedly request additional paperwork as needed.
Business Strategy
A well-thought-out two-year plan for your business is imperativefor the approval of your Entrepreneur Visa application. ImmD requires convincing evidence that your venture is a ‘welcome investment’ that will positively impact Hong Kong’s economic landscape.
Specific factors scrutinized during the application assessment include:
Strategic Plan: A detailed blueprint outlining your business concept, product offerings, market potential, operational framework, and the managerial team is crucial.
Financial Commitment: Proof of adequate financial reserves to support the venture is needed; though no minimum investment is mandated HKD1 million is needed for a non-resident applicant and HKD500,000 for any present resident seeking to acquire this immigration status from another type of visa. Documents such as bank account statements that speak to your liquid cash net worth to fund the business will be required.
Corporate Structure: Your choice of business entity can affect the outcome. Generally, limited liability companies registered in Hong Kong garner more credibility than sole proprietorships or partnerships at will.
Business Accommodation: ImmD will evaluate if you have a properly set up office or otherwise plans for suitable business premises out of which to operate your enterprise. Your kitchen table or spare bedroom generally do not cut the mustard in this regard. What’s ‘suitable’? For example, an export-import business would need adequate storage space. Including a lease agreement and photos of the premises once established will be called for.
To bolster your application, ensure meticulous attention to the above. Whilst ImmD no more wants to read a 60-page business plan than you might want to write one, a superficial plan for your business that barely meets requirements stands a higher risk of rejection compared to a robust proposal reflecting genuine commitment.
Submission Protocol and Timeline
Your completed application, with all requisite documents, must be submitted to the Hong Kong Immigration Department (Receipt & Dispatch Unit if you’re in Hong Kong as a visitor or via the Residents Section if you’re an existing resident applicant). Online submissions are preferred by ImmD but the upload process is a bit clunky. The electronic submission method merely provides the platform for the exchange of documents and evidence of the fact of application commencement through the issue of a receipt and reference number. Expect the substantive consideration process to be ‘trying’. Applications usually take between 3 to 5 months to process. If successful, a Visa/Entry Permit QR code approval letter is issued, which must be paid for and downloaded from the ImmD website.
Refusal
While rejection is unlikely if you meet all criteria, an appeal option exists in case of denial. You can apply for a Reconsideration.
Accompanying Family Visas
Under the Entrepreneur Visa programme, you can bring your spouse and children under 18 years of age to Hong Kong with you. Each family member would need a separate Dependant Visa which is provided for in the ID999A application form, the validity of which is tied to the primary applicant’s visa. Dependants can engage in employment or education without restriction.
Experience: Specialized firms generally possess a wealth of experience, enabling them to guide you efficiently. Expertise: Such firms can help tailor your business plan to meet Immigration Department expectations. Local Sponsorship: The firm can act as your local sponsor, fulfilling this mandatory application requirement. Administrative Ease: Expert firms manage the application submission and necessary follow-ups, saving you valuable time.
Visa Extensions
If your Entrepreneur Visa is approved, you can continue residing in Hong Kong under employment conditions to run and work in your own business (only). Extensions can be applied for at least four weeks before your current visa expires and will only be approved if you continue to meet eligibility requirements. The extension usually follows a 2-3-3 years pattern.
All Your Hong Kong Entrepreneur Visa Questions Answered Personally – Gratis
And, as always, if ever you get stuck and need to ask me a question, please do so here. I guarantee you a personalisedPodCast Answer within 48 hours – completely free of charge!
Hong Kong Entrepreneur Visa Information From VisaGeeza.Ai
New Visa Policy Initiatives Expand the Top Talent Pass Scheme, Relax Certain Visa Requirements & Reintroduce the Capital Investment Entrant Scheme
According to the Policy Address by the Chief Executive of Hong Kong delivered on October 25, 2023, the government is introducing a series of new visa policy initiatives aimed at revitalizing the economy and attracting foreign talent.
Expanding the Top Talent Pass Scheme
As part of the government’s strategy to promote trade and position Hong Kong as a global business hub, the coverage of universities under the Top Talent Pass Scheme will be expanded. Currently, the scheme grants qualified high earners and graduates from top universities a two-year visa to work or establish businesses in Hong Kong. This new visa policy initiative will increase the number of institutions covered to 184, providing more opportunities for foreign nationals to contribute to the local economy.
Relaxing Visa Requirements for Foreign Nationals
To further facilitate the entry of foreign nationals, the government has announced relaxed visa requirements for certain nationalities. Previously ineligible for Employment, Training, and study visas, Vietnamese, Laotian, and Nepalese nationals will now have the opportunity to access these visas to pursue their professional and academic goals in Hong Kong. This new visa policy initiative’s aim is to attract more talent and help to alleviate the current tight labour market.
Reinstating the Passive Investor Visa Program
The government is reinstating the Capital Investment Entrant Scheme in a major move to attract foreign investment. Eligible foreign investors who invest a minimum of HKD 30 million in stocks, funds, or bonds (excluding real estate) will have the opportunity to apply for entry into Hong Kong. This new visa policy initiative will help stimulate economic growth, showcase Hong Kong as an attractive investment destination, and create new business opportunities.
Introducing a Vocational Professionals Admission Scheme
Recognizing the importance of skilled trade professionals, the government is launching the Vocational Professionals Admission Scheme. This (completely new) ‘study-then-work’ pilot program will allow foreign students from specific vocational schools in Hong Kong to stay an additional year after graduation to find employment in their respective fields. By addressing skills shortages, this scheme aims to create a dynamic and well-equipped workforce to support the growth of Hong Kong’s various industries. This appears to be a boon for the F&B sector (in my view).
Easier Business Travel to Mainland China for Foreign Employees
To facilitate business operations and strengthen ties between Hong Kong and Mainland China, foreign employees of companies registered in Hong Kong will now have the opportunity to apply for a two-year or more multiple-entry Chinese business visa. This change allows for expedited China visa processing via the China Visa Application Service Center, simplifying travel arrangements and promoting seamless business connections between the two regions.
Focus on Economic Growth and Competitiveness
These new visa policy initiatives form part of the government’s broader national plan to improve the economy and enhance Hong Kong’s competitiveness in the global market. In addition to attracting foreign talent and encouraging foreign investment, the government plans to develop key sectors such as industrial, research and development, and information technology. It also aims to foster trade cooperation with Mainland China, attract foreign enterprises to establish headquarters or corporate divisions in Hong Kong, and promote the development of the digital economy.
A Positive Impact
These new visa policy initiatives are set to positively impact businesses seeking to hire and/or deploy foreign nationals to Hong Kong. The focus on streamlining immigration processes, relaxing visa requirements, and promoting economic growth demonstrates our ambition to become a leading global business destination.
More To Come …
I will continue to closely monitor the implementation details of these programs as provided by the Hong Kong Immigration Department. Presently, details are sparse but once available, will publish them here and also update the visageeza.ai large language model to include them in our body of Hong Kong immigration know-how on demand.
VisaGeeza.Ai – Making Hong Kong Immigration A Lot Easier
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