Hong Kong Entrepreneur Visa
Hong Kong Residency Program
Hong Kong residency offers great flexibility and an advanced business infrastructure to investors as well as a favorable low tax regime well suited for international businesses-minded individuals. The business investor scheme allows eligible candidates and their families to obtain temporary Hong Kong residency that can lead to permanent resident status.
Eligibility Requirements
- The applicant must be over 18 years.
- The applicant must have a clean criminal record and there is no security objection.
- The applicant has a good educational background, or in special circumstances, good technical qualifications, proven professional abilities and/or relevant experience and achievements supported by documentary evidence.
- The applicant must make a substantial contribution to Hong Kong’s economy and demonstrate the business will create local jobs, utilize services provided by local suppliers, manufacturers, etc.
Program Benefits
- Investors and immediate family members (dependants under the age of 18) can obtain residency in Hong Kong.
- The initial residency visa is valid for 2 years and can be renewed for 3 years.
- No requirement to stay a minimum period of days a year in Hong Kong.
- Income that is not sourced in Hong Kong is not subject to tax in Hong Kong; there is no capital gains tax, estate tax, and sales tax.
- An investor, who has been obtained an entrepreneur visa and has resided in Hong Kong for a continuous period of at least seven years, is entitled to apply for Permanent Residence, commonly referred to as “Right of Abode” in Hong Kong.
- The time frame taken to process the application is about 4-8 weeks.
Business Investment Options
- Establishing or joining in Hong Kong business that includes submitting a two-year business plan stating the nature of the business, market analysis, market positioning, business direction, sales targets, product marketing strategy, etc.; OR,
- If the applicant is running relevant business overseas or has joined a business in Hong Kong, he or she must submit the profit-and-loss account statement and balance sheet showing the business turnover and profit in the previous year for existing businesses; OR,
- Those who intend to establish business in Hong Kong should submit a two-year forecast of profit-and-loss account statement and balance sheet, including the anticipated business turnover; OR,
- Introducing new technology or skills, whereby the applicant can inspire creativity in the high-value-added industries in Hong Kong, and whether he or she has taken out patent(s) that contribute to the long-term development of Hong Kong as a knowledge-based economy; OR,
- Establish or join in a start-up business if it is supported by a government-backed program (subject to rigorous vetting and selection process) and the applicant is the proprietor or partner of the start-up company or a key researcher of the relevant project.
Application Process
Applications, including all supporting documents for the investment visa/entry permit generally take 3-5 months to process once all the required documents are received by the Immigration Department in Hong Kong.
Applications are then processed by the Immigration Department and all determinations, whether approved or denied, are made at the discretion of the Immigration Department and/or may be subject to changes in government policy. The Director of Immigration retains absolute authority to deny an application even if it meets all requirements.
In addition to meeting necessary requirements, if immigration authorities find that your business proposal is genuine and beneficial to the Hong Kong economy and that you have sufficient funds to support your business plan, rejection of the application is unlikely.
Hong Kong Frequently Asked Questions
1. If I apply for Hong Kong citizenship, can I hold double/dual citizenship?
No. Hong Kong does not allow double or dual citizenship, which means you have to renounce your previous citizenship.
2. How much do I have to invest in order to receive the Hong Kong Residency Visa?
There is no minimum investment requirement specified by the authorities when applying for the entrepreneur visa. However at the time of processing your application, the authorities will closely examine your proposed business plan to assess if your proposed investment is sufficient for the business you plan to set up.
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