Guess what? You might be surprised to find out that, for an entrepreneurial pushed economic climate such as Hong Kong’s, there are only comparatively number of expenditure visas granted yearly.
The two hundred-three hundred approvals recorded are extremely modest matched towards the twenty five,000 perform visas issued yearly and indeed, the one,three hundred Capital Expenditure visas which had been granted in 2010. As the HKID don’t supply stats on the volume of programs gained, it does show up secure to say that the low variety of investment decision visa approvals is much less a suggestion of the interest of overseas nationals who want to create or be part of in a enterprise in thus part of China but much more a reflection of the actuality that receiving an expense visa accepted is amid the most challenging of all the HKSAR visa procedures.
Even in spite of this, international nationals get there in droves to just take component in the wonderful organization options which the city has to offer and, naturally sufficient, the Director of Immigration will not prevent purposes from people to begin up new, or be part of in present, firms in the HKSAR. The most substantial variation in between the two kinds of visa lies in the character of the approvability exams and the simple situation of whether the prospect has got price at risk in the organization wanting to deploy his operate in their business functions. Hence the HKID look closely at the shareholding framework of the organization that applicant will be engaged in and, as a common manual, anything better than a ten-fifteen% stock holing placement in the hands of the visa applicant will steer the HKID toward the making use of of the a lot more burdensome business expenditure visa approvability check fairly than the work visa approvability examination.
Masking up the shareholding to try to find a way close to this basic rule is laden with difficulty as the Immigration Section will peer underneath every single nook and cranny in an try to fully recognize the company possession arrangements. For that reason, the utilisation of nominees only for immigration purposes just isn’t recommended. If the business is a completely new start up, a totally fledged plan for the organization is mission-crucial to visa acceptance. Hong Kong investment decision visas typically consider amongst 4 and six months for formal acceptance to eventuate (compared with the maximum 6-8 months for out and out perform visas) and the clarification for this is to permit the new business to generate early industrial final results and avail the likelihood for the HKID to appraise if the enterprise prepare is a functional one particular as measured by new ‘facts on the ground’ ensuing correct from the tangible implementation of organization actions.
Couple of Hong Kong expenditure visas are granted based basically on a paper plan in fact this kind of approvals are customarily constrained to extremely well resourced organisation extending their functions into Hong Kong from abroad. But the place the company-investor- visa-applicant is in-region, at times as a visitor, though sometimes intending to alter visa standing from employment, the HKID anticipate to see the company shifting forward prior to they will authorize a business expenditure visa. This results in a Capture 22 circumstance: you cannot sign up for in a organization until the approval of the HKID is secured. You can not safe the arrangement of the HKID without having exhibiting contribution to Hong Kong. You cant present contribution to Hong Kong with no joining in a enterprise!
The Immigration Section is extremely properly knowledgeable about this maze and are useful in their function -all around.
Essentially, if you produced an software for an investment visa they’ll shut their eyes to the specialized breach of situations of keep implicit in working a brand new business before getting experienced your expenditure visa authorized. The threat lies in not having an software in the technique.
So to provide your self with safety from the threat of prosecution, you want to sanction the HKID to just take an early view of your activities and indicator up for your Hong Kong expenditure visa right at the outset, of your professional endeavours, not afterwards on after ‘its all moving forward’.
Work Visa Application of the London University of Economics, Stephen started out his first dedicated Hong Kong immigration exercise, LL.B Consultancy, in Kowloon in 1993 straight out of law university. In 1996, Stephen wrote, then released, the 1st version of the Hong Kong Visa Handbook on the internet – which went on to be the foremost Diy manual to the Hong Kong visa and immigration approach. Stephen is an acknowledged skilled in all issues relating to Hong Kong immigration and for many a long time has shipped CPD programmes to the legal and accounting group of the HKSAR. Frequently invited to communicate on the matter of Hong Kong visas, Stephen is commonly sought right after for commentary from the Hong Kong press, to deliver talks to organization and HR organisations and seems frequently on Authorities owned RTHK Radio 3 answering visa and immigration inquiries dwell on air.