How Hard Is It to Secure A Visa Extension as an ‘Investor’ Under the Hong Kong Immigration Arrangements for Non-local Graduates?
Posted by The Visa Geeza / in Employment Visas, Investment Visas, Your Question Answered / 5 responses
First Published August 20, 2013
The Hong Kong Immigration Department offer ‘liberalised’ immigration arrangements for foreign nationals and mainland students who graduate from Hong Kong tertiary education institutes (“IANG”). If you have a job in Hong Kong one year after graduation, then the extension process is all but a rubber stamping exercise. But what if you wish to start a business instead?
QUESTION
Hello Stephen,
I have already graduated in summer 2012, and now I stay in Hong Kong by “1 year IANG extension” visa, and I need to get a visa before December 2013 which I can stay in Hong Kong.
The situation is I want to start a service business in a unique niche not presently served in Hong Kong.
I have got to know how to set up a company here, and after I read your Hong Kong Visa Handbook, I have better understanding.
The Visa Handbook is useful.
Based on your knowledge, what is the minimum monetary injections/investment to the company that I can extend my visa in Hong Kong in December 2013?
In other words, what is number is safe?
I have heard a successful case that a Chinese young girl set up her business in Hong Kong by HKD1,000,000 after finished her master program and she have extended her visa in the name of her own company.
Second question is, there are only three months that allow me to set up my business, is it even more difficult?
Let’s assume that, hopefully, I will register my company and start my business in November, will Hong Kong immigration reject my extension easily in December 2013, for reasons like the company is just started, or there are only few documents and contracts to prove the company can contribute to Hong Kong economy?
I am eager to start my own business in Hong Kong, instead of working for a company.
I hope you can give me some suggestions, thank you.
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The Hong Kong Visa Geeza (a.k.a Stephen Barnes) is a co-founder of the Hong Kong Visa Centre and author of the Hong Kong Visa Handbook. A law graduate of the London School of Economics, Stephen has been practicing Hong Kong immigration since 1993 and is widely acknowledged as the leading authority on business immigration matters here for the last 24 years.
Peter Vandever
I am not sure why I would need 250k if I am opening a web design firm. My investment would be knowledge and experience. What do I need besides an office and an internet connection?
The Visa Geeza
You need to show that you can make a substantial contribution to the economy of Hong Kong. This means, at the very least, that not only you will benefit from your business endeavours, but Hong Kong more widely. This, according to ImmD policy, requires funds.
The Visa Geeza recently posted..As a Visitor Living in Hong Kong Do You Need to Get An Investment Visa if You Freelance Here But All Your Income is Sourced Overseas?
Peter Vandever
This is confusing to say the least. HK makes it rather easy to establish a business in HK but hard to actually live here to run it?
The Visa Geeza
I agree Peter. Looks like an anomaly doesn’t it? ImmD welcome new businesses of a certain size and profile. One man businesses marginally capitalized more often than not fail the approvability test of ‘substantial contribution to the economy of Hong Kong’.
The Visa Geeza recently posted..Interview: In the Last 20 Years Which Type of Hong Kong Visa Has Been Most in Demand and the Easiest to Anticipate an Approval For?