Hong Kong Entrepreneurs Visa
The Entry for Investment visa scheme is for foreign entrepreneurs who wish to operate their own business in Hong Kong. It is essentially a type of work permit that is issued to the owner of a business as an employee of his/her Hong Kong Company.
One of the main criteria lies in whether the applicant is able to prove that the business will make a significant contribution to the economy of Hong Kong. The entrepreneur visa is generally issued for two-year period initially and is renewable thereafter as long as the business remains viable. The person is eligible to apply for Hong Kong permanent residence in due course.
There is no minimum investment requirement. However, at the time of processing the application, the authorities will closely examine the proposed business plan to assess if the proposed investment is sufficient to set up the business. In this regard, the applicant must ensure that the proposed investment covers the start up and operational expenses of the business for at least the initial 3-6 month period.
The time taken to process the application is about 4-6 weeks.
Dependant Visa for Family
Applicants under this scheme are eligible to bring their family members (spouse and unmarried dependent children under 18 years of age) with them to Hong Kong. The dependant’s length of stay is tied to the applicant’s stay in Hong Kong. Dependant visa holders are free to take up employment or study in Hong Kong.
An individual, who has been granted an entrepreneur visa and has resided in Hong Kong for a continuous period of at least seven years, is eligible to apply for Permanent Residence, commonly referred to as “Right of Abode” in Hong Kong.
An applicant under this scheme must have no criminal record and meet the security requirements of Hong Kong. He must also provide evidence of a good educational background, ie a degree in the relevant field, good technical qualifications, relevant professional abilities, achievements and experience.
In addition, the applicant must be able to demonstrate that he will make a substantial contribution to the economy of Hong Kong through the creation of jobs for the local workforce, the use of the services of local service providers, suppliers, manufacturers etc. and that the company will make a contribution in the specific market that it is entering.