Guess what? You may possibly be surprised to discover that, for an entrepreneurial pushed economic climate such as Hong Kong’s, there are only comparatively few investment visas granted annually.
The 200-300 approvals recorded are really modest matched towards the twenty five,000 work visas issued yearly and indeed, the one,three hundred Capital Expenditure visas which have been granted in 2010. As the HKID don’t provide stats on the amount of purposes acquired, it does appear protected to say that the minimal amount of investment visa approvals is considerably less a suggestion of the desire of foreign nationals who want to develop or join in a enterprise in hence element of China but a lot more a reflection of the actuality that receiving an investment decision visa accredited is among the most demanding of all the HKSAR visa processes.
Even in spite of this, international nationals arrive in droves to take component in the great organization opportunities which the metropolis has to supply and, in a natural way ample, the Director of Immigration does not discourage apps from individuals to begin up new, or sign up for in current, companies in the HKSAR. The most substantial variation among the 2 kinds of visa lies in the character of the approvability tests and the standard situation of no matter whether the candidate has got price at threat in the agency seeking to deploy his work in their business functions. Consequently FastLane HR seem intently at the shareholding framework of the organization that applicant will be engaged in and, as a basic guidebook, something increased than a ten-15% inventory holing situation in the palms of the visa applicant will steer the HKID toward the applying of the much more burdensome company investment visa approvability take a look at rather than the work visa approvability take a look at.
Masking up the shareholding to endeavor to locate a way close to this general rule is laden with issues as the Immigration Section will peer under each nook and cranny in an attempt to fully recognize the company ownership arrangements. As a result, the utilisation of nominees entirely for immigration needs isn’t advised. If the organization is a absolutely new begin up, a completely fledged program for the company is mission-crucial to visa approval. Hong Kong investment visas often just take in between 4 and 6 months for official acceptance to eventuate (when compared with the optimum 6-8 weeks for out and out perform visas) and the rationalization for this is to allow the new company to make early industrial outcomes and avail the chance for the HKID to appraise if the company prepare is a useful one as calculated by new ‘facts on the ground’ ensuing right from the tangible implementation of enterprise activities.
Few Hong Kong investment visas are granted based mostly merely on a paper plan indeed these kinds of approvals are typically minimal to quite effectively resourced organisation extending their functions into Hong Kong from overseas. But exactly where the organization-investor- visa-applicant is in-nation, often as a visitor, even though occasionally intending to adjust visa position from employment, the HKID assume to see the business transferring ahead just before they will authorize a organization investment decision visa. This generates a Capture 22 situation: you can not sign up for in a organization till the approval of the HKID is secured. You can’t secure the agreement of the HKID with out exhibiting contribution to Hong Kong. You cant present contribution to Hong Kong without signing up for in a organization!
The Immigration Division is incredibly well knowledgeable about this maze and are practical in their perform -all around.
Fundamentally, if you made an software for an investment decision visa they are going to shut their eyes to the complex breach of conditions of remain implicit in running a model new business just before possessing experienced your expense visa authorized. The danger lies in not getting an software in the system.
So to provide your self with safety from the risk of prosecution, you want to sanction the HKID to consider an early look at of your activities and signal up for your Hong Kong expense visa right at the outset, of your industrial endeavours, not later on following ‘its all transferring forward’.
A graduate of the London Faculty of Economics, Stephen commenced his first devoted Hong Kong immigration exercise, LL.B Consultancy, in Kowloon in 1993 straight out of legislation faculty. In 1996, Stephen wrote, then published, the first version of the Hong Kong Visa Handbook on the web – which went on to be the leading Do-it-yourself guidebook to the Hong Kong visa and immigration approach. Stephen is an acknowledged professional in all matters relating to Hong Kong immigration and for a lot of several years has sent CPD programmes to the lawful and accounting neighborhood of the HKSAR. Often invited to converse on the subject matter of Hong Kong visas, Stephen is commonly sought soon after for commentary from the Hong Kong press, to provide talks to company and HR organisations and appears regularly on Government owned RTHK Radio three answering visa and immigration queries live on air.