I always stifle a chuckle when I read on the websites of professional service providers offering a Hong Kong visa and immigration product that there is a need for a ‘detailed business plan’ in each and every Hong Kong investment visa application.
It’s simply not true.
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 me to 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.