Hong Kong is a strong economy that attracts start-ups from around the world. The country even has a special immigration scheme for foreign entrepreneurs. This is known as the Entry for Investment. This visa allows the visa holder to live and set up an independent business in Hong Kong. Here’s all you need to know about applying for this visa.
Hong Kong start-up visa applicants do not need to make a minimum investment when applying for a start-up visa. However, the amount invested should be sufficient to cover the operational expenses for the first 3-6 months.
To be eligible for a start-up visa to Hong Kong, the applicant must meet the following criteria:
Start-up visa applicants must be sponsored by a local citizen or company. Thus, the documentary proof required can be categorized into documents required from the applicant and those required from the sponsor. All documents must be in English or Chinese. In case the documents are in any other language, a certified translation must be made available.
Documents required from the applicant:
Documents required from individual sponsors:
Documents required from company sponsors:
Putting together a detailed business plan is critical to getting a visa application accepted. The business plan must list out all the details of the proposed business and convince the authorities of it has a high chance of succeeding. The business plan must include:
The application form for a Hong Kong start-up visa is available online. It can be downloaded from here.
The completed application form and the supporting documents can be posted to the Hong Kong Immigration Department. Processing time can range from 3 to 5 months.
If the application is accepted, the Immigration Department will issue the applicant a visa/entry permit label. This can be collected from the immigration office.
In case the applicant cannot pick up the visa in person, an authorized representative can collect it. This label must be affixed to a blank page in the applicant’s passport. The applicant may file an appeal with the Hong Kong Immigration office if the application is rejected.
Start-up founders can bring their spouse and unmarried dependent children under the age of 18 years along to Hong Kong on a dependent visa. Once the start-up visa is approved, the applicant can apply for a dependent visa for each dependent family member they want to bring along. The dependent visa validity is linked to the validity of the start-up visa.
The start-up visa is valid for an initial duration of 2 years. It may be further extended for another 2 years. At the end of the first extension, it may be extended again for another 3 years.
Applicants who live in Hong Kong for at least 7 years at a stretch can be eligible for permanent residency. This is known as the “Right of Abode” in Hong Kong.
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