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PRACTICE UPDATE: How to read in light of current ImmD policy:

Where this guidance previously suggested that struggling, pre-profit, or turnaround entities could sponsor an incoming partner by simply demonstrating turnover, an operational space, and a credible forward-looking plan for downstream growth, it must now be read with extreme caution. Under ImmD’s alignment with TTPS Category A commercial substance, the department actively filters out under-capitalized or stagnant vehicles, demanding verifiable solvency, immediate capital infusions (HKD 1.5M–2.0M deployed), and verified domestic supply chain integration rather than speculative turnaround promises. An unprofitable entity cannot rely on future projections to justify an incoming foreign national entrepreneur unless it can demonstrate that 2 to 3 local permanent residents are already securely employed and that the venture possesses the unencumbered liquidity required to sustain multi-year operations as an institutional enterprise.

What will the Hong Kong Immigration Department make of an application for a second partner to join in an existing business and secure a business investment visa (or) Hong Kong investment visa for an unprofitable company – easy or hard?

QUESTION

My business partner is moving to Hong Kong soon.

Until this point, we had no need for him to be resident in Hong Kong but soon he will  play an active role in developing the European part of our business.

Our company has not yet turned a profit so I am wondering if it would be a problem when I make him a contract and apply for his working visa as the other shareholder and director of the company?

What can you suggest?

ANSWER

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