What is the approvability test for a Hong Kong entrepreneur visa, How does the approvability test for business investment to get a Hong Kong entrepreneur visa differ from that of a job-offer based employment visa? What are the key factors that contribute to the successful approval of a Hong Kong entrepreneur visa based on business investment in the HKSAR and how does the creation of local jobs through investment activities impact the approval of a Hong Kong entrepreneur visa application?
Understanding the Approvability Test
The first step in qualifying for a Hong Kong entrepreneur visa on the basis of business investment visa is passing the Approvability Test. This test is notably more challenging than the one for job-offer based employment visas, which primarily focuses on the applicant’s special skills, knowledge, and experience in relation to the proposed employment function.
The Impact on The Region’s Economy
The Approvability Test for a business investment visa requires demonstrating that your investment activities will bring substantial benefits to the economy of Hong Kong and the region more widely. This could be through creating local jobs, utilizing Hong Kong vendors and suppliers, or advancing the overall industry or profession within which the investment activities are undertaken. In the medium to long term, the investment activities should result in the establishment of a sound business entity.
Demonstrating Commitment to Hong Kong
The criteria for the Hong Kong entrepreneur visa must show immediate potential for benefit to Hong Kong and the GBA region more widely. This means that your investment activities should be supported by a strong commitment to Hong Kong, which will increase the chances of your business succeeding from the outset. In practice, this translates to demonstrating that the strength of your commitment to Hong Kong is reflected in the extent of your actual investment.
In conclusion, qualifying for a business investment visa as an entrepreneur in Hong Kong requires passing the Approvability Test, demonstrating potential benefit to Hong Kong’s economy and the GBA region more widely whilst showing a strong commitment to Hong Kong through your investment activity.