Guess what? You may well be surprised to find out that, for an entrepreneurial pushed economy these kinds of as Hong Kong’s, there are only comparatively number of expenditure visas granted every year.
The two hundred-300 approvals recorded are very modest matched against the twenty five,000 perform visas issued yearly and certainly, the one,300 Funds Expenditure visas which have been granted in 2010. As the HKID will not offer stats on the amount of apps acquired, it does show up risk-free to say that the minimal amount of expenditure visa approvals is much less a recommendation of the interest of international nationals who want to produce or be part of in a business in hence element of China but much more a reflection of the truth that obtaining an expenditure visa accepted is between the most challenging of all the HKSAR visa procedures.
Even in spite of this, foreign nationals get there in droves to just take element in the superb company options which the metropolis has to supply and, normally ample, the Director of Immigration does not deter applications from folks to commence up new, or be part of in existing, companies in the HKSAR. www.fastlanehr.hk among the 2 types of visa lies in the character of the approvability checks and the fundamental situation of whether the applicant has obtained price at chance in the agency wanting to deploy his function in their organization functions. That’s why the HKID search closely at the shareholding framework of the firm that applicant will be engaged in and, as a general guidebook, something increased than a 10-15% inventory holing place in the hands of the visa applicant will steer the HKID towards the applying of the much more burdensome company investment visa approvability take a look at fairly than the operate visa approvability check.
Masking up the shareholding to try to find a way around this common rule is laden with problems as the Immigration Office will peer underneath every single nook and cranny in an attempt to fully recognize the company ownership arrangements. As a result, the utilisation of nominees only for immigration reasons is not encouraged. If the business is a completely new commence up, a entirely fledged strategy for the business is mission-essential to visa acceptance. Hong Kong expense visas typically take between 4 and 6 months for formal approval to eventuate (in contrast with the highest six-8 months for out and out perform visas) and the explanation for this is to allow the new organization to produce early business results and avail the opportunity for the HKID to appraise if the business strategy is a useful 1 as measured by new ‘facts on the ground’ ensuing appropriate from the tangible implementation of business routines.
Handful of Hong Kong expense visas are granted primarily based simply on a paper program certainly such approvals are usually restricted to quite properly resourced organisation extending their operations into Hong Kong from abroad. But where the company-investor- visa-applicant is in-region, sometimes as a visitor, however occasionally intending to adjust visa standing from employment, the HKID assume to see the organization shifting ahead ahead of they will authorize a organization investment visa. This creates a Capture 22 circumstance: you cannot be a part of in a organization until the approval of the HKID is secured. You cannot secure the agreement of the HKID without having exhibiting contribution to Hong Kong. You cant display contribution to Hong Kong with out becoming a member of in a enterprise!
The Immigration Office is incredibly effectively knowledgeable about this maze and are sensible in their work -about.
Fundamentally, if you manufactured an software for an investment decision visa they are going to close their eyes to the technical breach of circumstances of keep implicit in operating a brand name new organization before obtaining had your expense visa authorized. The hazard lies in not obtaining an application in the method.
So to supply your self with security from the risk of prosecution, you want to sanction the HKID to get an early see of your routines and indication up for your Hong Kong expenditure visa correct at the outset, of your business endeavours, not later on after ‘its all relocating forward’.
A graduate of the London University of Economics, Stephen started out his 1st dedicated Hong Kong immigration follow, LL.B Consultancy, in Kowloon in 1993 straight out of legislation university. In 1996, Stephen wrote, then released, the 1st edition of the Hong Kong Visa Handbook on the world wide web – which went on to be the major Do it yourself manual to the Hong Kong visa and immigration procedure. Stephen is an acknowledged expert in all matters relating to Hong Kong immigration and for a lot of a long time has delivered CPD programmes to the lawful and accounting neighborhood of the HKSAR. Usually invited to converse on the matter of Hong Kong visas, Stephen is widely sought following for commentary from the Hong Kong press, to provide talks to company and HR organisations and seems routinely on Authorities owned RTHK Radio three answering visa and immigration concerns dwell on air.