Hong Kong is known the world over as a glamorous city and a top choice for luxury shopping. Hong Kong is the leading financial services hub of the east and is home to many leading business conglomerates. With a free-market economy, excellent global connectivity, English as the language of official communication, excellent infrastructure, and a highly-skilled workforce, Hong Kong is an attractive destination for new entrepreneurs.
Hong Kong Residency Overview
While Hong Kong does not have a citizenship by investment program it does offer various routes to residency for talent, professionals and entrepreneurs. The core residence program in Hong Kong was suspended in 2015. Hong Kong now offers several categories through employment and investment. A Permanent Residency Visa can be granted after 7 years of residency in Hong Kong and citizenship can be applied for after 10 years.
- General Employment Policy (GEP) Permit
- Admission Scheme for Mainland Talents and Professionals (ASMTP)
- Investment as Entrepreneurs
Hong Kong Residency
Hong Kong is the leading financial services hub of the east and is home to many leading business conglomerates. With a free-market economy, excellent global connectivity, English as the language of official communication, excellent infrastructure, and a highly-skilled workforce, Hong Kong is an attractive destination for new entrepreneurs.
Intending to benefit from its status as a global business hub, Hong Kong has introduced a program that enables citizens from most countries around the world (exceptions are: Mainland China, Afghanistan, Cuba, Laos, North Korea, Nepal, and Vietnam) to reside in Hong Kong as an entrepreneur.
Foreign citizens may apply for permanent residence after living for seven uninterrupted years in Hong Kong. The Immigration Department assesses each application individually and may require further proof that the applicant has lawfully lived in the city for the said amount of time.
The permanent residence status is not automatically gained and individuals may not use this status until their situation is verified by the Immigration Department. As permanent residents of Hong Kong, they will benefit from social benefits, public housing, assistance allowances and public school access for their children. Foreign citizens with permanent residence in Hong Kong will also receive ID cards that grant them voting rights. Chinese citizens may benefit from additional rights, for example, the application for home return permits.
What are requirements for a Hong Kong Entrepreneur Investment Visa?
The key documentation requirements for a Hong Kong Entrepreneur Investment Visa for the applicant are:
- Filled up the application form for a visa (ID 999A which is available for download on this page)
- Valid Travel documents of the applicant such as Passports and visas for Hong Kong
- Hong Kong, Macau, Taiwan, or Mainland China Identity Cards (if any)
- Proof of academic qualifications
- Bank statements showing the financial standing of the applicant
- If applicable, a copy of the employment contract indicating position held, salary, employment periods, and benefits.
To show a valid investment or business venture, the following additional requirements need to be submitted:
- A 2-year business plan with information about the proposed business, amount of investment, local job creation and plan to set up offices or showrooms
- Proof of business activities of the company
- Documents indicating the background of the company
- Tenancy documents for the set up of the office or the business
- Proof of employment created for local employees
- Business Registration Certificate and company incorporation documents
- Letter of support from Government programs, if applicable
In cases when a Company is sponsoring an applicant, an additional form called ID 999B (which is available for download on this page) is also required to be submitted.
How to get a Hong Kong Residency?
The application process for a Hong Kong Entrepreneur Visa is transparent and efficient. All the aforementioned documents along with the application have to be submitted to the Hong Kong Immigration Department by post or through the local sponsor. A fee of HK$260 has to be submitted along with the application form. It is, however, crucial that the documents and application forms are filled and compiled before an expert in the field of immigration law to ensure that any errors do not creep into them and the information is correctly presented.
The processing period for a Hong Kong Entrepreneur Investment Visa is around 4 weeks from the submission of the application of all requisite documents and forms are in place.
Empire Global has a team of experienced professionals who will guide you through the entire process of application for a Hong Kong Entrepreneur Investment Visa including assistance in the preparation of documents, submission of application, and responding to any queries from the Immigration office. We request you to get in touch with Empire Global at the earliest to understand the entire process and fulfill your dream of settling in Hong Kong.