The Business Investment Visa in Hong Kong opens doors for foreign entrepreneurs looking to invest in the region. Tailored to streamline the entry process for individuals aiming to invest in Hong Kong businesses, this visa offers various advantages to its holders. Curious about the perks and the steps involved in applying for an investment visa in Hong Kong? Join us as we delve into these details in this article.
Hongkong Investment Visa
Overview of Hong Kong Investment Visa
When a foreigner intends to invest in a country, it’s standard procedure to obtain an entry permit granting permission to oversee the business. In Hong Kong, this permit is known as the ‘Entry for Investment as Entrepreneurs’ visa, commonly referred to as an ‘investment visa.’
The Hong Kong Investment Visa is a crucial document that affirms a foreign individual’s right to reside in Hong Kong for the purpose of establishing a new business or making entrepreneurial investments. Importantly, it’s distinct from the employment visa in Hong Kong.
How do they determine if you're Eligible?
The eligibility for the investment visa isn’t constrained by a quota system. Instead, it hinges entirely on your qualifications.
The main goal of this visa program is to bolster Hong Kong’s economy. To meet the criteria, applicants must convincingly show authorities that either they or their proposed business plans can bring substantial value in various ways.
Your educational and/or professional backgrounds will be evaluated. Therefore, highlighting your proven expertise and experience in a relevant field is crucial. Additionally, you must appoint a local sponsor to serve as your guarantor. This sponsor can be an individual or a company, taking responsibility if you decide to leave Hong Kong.
How many years is the investment visa valid for?
The initial period for an HK investment visa is typically 2 years once granted. If renewed properly, you can continue to stay in the country and manage your business. After a sufficient duration, you can also apply for permanent residency status. Similar to other work visas, under specific conditions, you are allowed to bring your family members along.
What are the requirements for a Hong Kong Investment Visa?
To be considered eligible for this program, you must meet the following criteria:
1. Maintain a clean criminal record, indicating no involvement in any wrongdoing or misconduct.
2. Possess an outstanding academic and/or professional track record. If your graduate degrees are not exemplary, you can provide evidence of relevant technical or professional experience as an alternative.
3. Effectively demonstrate that you or your business can actively contribute to Hong Kong’s growth, whether through generating revenue, creating valuable jobs for the local workforce, or facilitating the operations of other local businesses, even if they are not in the same industry.
4. Not be a resident of Mainland China, Afghanistan, Cuba, Laos, North Korea (Democratic People’s Republic of), Nepal, or Vietnam, as individuals from these countries are not eligible to apply for an Investment or Entrepreneur Visa in Hong Kong.
5. It’s crucial to note that you must establish your Hong Kong company well in advance of applying for the visa.
What documents should you prepare?
If you’re applying, you’ll need to provide:
1. A completed application form
2. Your passport’s personal particulars page and a recent photograph
3. Valid travel document if currently in Hong Kong
4. Hong Kong identity card copy (if applicable)
5. Academic and/or professional credentials proof, like a degree or investment portfolio
6. Documents supporting your financial status and your company’s
7. Company employment contract or appointment letter, specifying position, benefits, and tenure
8. A detailed 2-year business plan covering proposed activities, investment, local job creation, and office setup
9. Valid Business Registration Certificate copy
10. Proof of overseas residence for Macao SAR, Taiwan residents, or overseas Chinese with a PRC passport
Documents needed from the sponsor
Documents needed from the sponsor vary based on whether the sponsor is a company or an individual. If the sponsor is a company, the required documents include:
1. A completed application form designed for the sponsor.
- * A copy of the company’s Business Registration Certificate.
For individual sponsors, the necessary documents are:
1. A completed application form designed for the sponsor.
2. A copy of the sponsor’s Hong Kong identity card.
3. A copy of the sponsor’s personal particulars page from a valid travel document.
Please note that the listed documents are provided for your reference only. Additional documentation may be requested by the relevant authorities to further verify your qualifications.
What to incorporate into your business plan?
How to apply for Investment Visa
Follow these straightforward steps to smoothly complete your Hong Kong Investment Visa application.
Step 1: Submission
Once you’ve confirmed that you meet all eligibility criteria and have diligently prepared all required documents, submit your application to the Hong Kong Immigration Department via post. Use Application form ID 999A for normal applicants and ID 999B for sponsors. The processing time for the visa or entry permit application typically takes around 4 weeks. The Department of Immigration will review your eligibility and make decisions on all applications.
Step 2: Visa Collection in Person
Upon approval, your Visa/Entry Permit will be issued, and you must collect it in person at the Immigration Department. If you can’t make it, your sponsor or an authorized representative can do so on your behalf. Affix the Visa/Entry Permit to a blank visa page in your travel document for presentation when required.
In the unlikely event of your application being rejected, you have the option to lodge an appeal for reconsideration. However, if you adhere to all criteria and your business shows promise, the visa should be granted seamlessly.
Additional considerations when applying for a Hong Kong Investment Visa:
Securing a Dependant Visa: Individuals with an investment visa have the opportunity to reunite with family members in Hong Kong, given certain conditions. The Dependant Visa is applicable to specific categories of dependants, mainly spouses and unmarried children under 18.
To qualify for this visa, certain formalities must be fulfilled. Evidence of a genuine relationship with the dependant(s), the ability to adequately provide for their basic needs, and their clean record at the time of registration are required.
The duration of dependants’ stay aligns with the visa holder’s validity. As long as the investment pass remains in force, dependants can reside and work in Hong Kong as lawful citizens.
Renewal of the Investment Visa: Renewing the visa allows for an extension of stay, contingent upon meeting the same application criteria. It is recommended to initiate the renewal process at least 4 weeks before the expiration date, the deadline for renewals.
Upon approval, the extended stay typically follows a 3-3 year pattern.
Seeking Permanent Residency: Holding an Investment Visa is a key factor in pursuing permanent residency. After owning the visa and residing in Hong Kong for 7 consecutive years, individuals become eligible to apply for permanent resident status.
For detailed advice on the Hong Kong Investment Visa, feel free to reach out to our consultants by sending a chat message or emailing us at info@countrywidevisas.com.
Frequently Asked Questions
Discover the distinctive features that set the Hongkong Investment Visa apart, making it a premier choice for investors worldwide.
Navigate through the timelines of the application process, understanding the stages and the estimated duration for each step.
Uncover the family-friendly aspects of the Hongkong Investment Visa, exploring the possibilities for your loved ones to join you in this exciting venture.
Dive into the specifics of eligible investments, ensuring a clear understanding of the industries and sectors that align with the visa requirements.
Addressing concerns about investment risks, this section provides insights into potential challenges and strategies to mitigate financial downturns.
Explore the benefits of seeking professional assistance in navigating the complexities of the Hongkong Investment Visa application.
