Here’s all you need to know about applying for a hong kong working visa and how the process works if you’re an entrepreneur considering moving to Hong Kong.
In Asia, Hong Kong is a trading and financial center. It has a prospering commerce sector and a passionate entrepreneur community. Fiscally strong. Low tax rates encourage company development. Thus, Hong Kong is one of the most favorable jurisdictions for establishing a foreign firm. Why? One of the primary reasons is due to its immigration policy. If you want to move to Hong Kong, you must first apply for a working visa. It’s time to figure out what it takes to submit an application.
Here you will find the answers to many of the questions you may have regarding this situation. If you want to go straight to a certain topic, simply scroll down.
The Hong Kong Working Visa Rules
Applications for these employment visa hong kong are evaluated and authorized by the HKSAR, or simply “Hong Kong,” at its discretion unless a quota system is in place. You’ve undoubtedly heard these visas referred to as “schemes” or “permits,” but we’ll stick to the term “visa” in this article since it’s simpler.
Types of Visa
There are several of them. The one you apply for is determined by the reason why you came to Hong Kong in the first place. It might be about looking for a financial opportunity, pursuing a career goal, or taking the plunge and starting a business in Hong Kong. Under the General Employment Policy, each country has its own set of rules regarding working visas. Hong Kong has stringent requirements for obtaining a work visa. If you want to know everything there is to know about starting your own business in Hong Kong, keep reading.
1. Investment Visa
What is your preferred way of spelling it? Entrepreneur, expatriate, or are you ready to relocate and begin or join a Hong Kong business as a proprietor or partner? You’re seeking for an investment visa (and if your application is accepted, you may also apply for dependents).
2. Employment Visa
Have you gotten the job for which you applied? If you’re a foreigner moving to Hong Kong for work with a firm, or if you’re finishing your degree in Hong Kong and want to stay, this is the visa category to apply for. In order to qualify for this visa, you must demonstrate that your professional abilities or experience are in demand and that there are no qualified individuals available in your area.
3. Quality Migrant Admissions Scheme
This is a non-permanent immigration status for those from outside the European Union who do not yet have a job in Hong Kong but plan to work here. Unlike the prior, this one is subject to a quota system. There are 1,000 annual spots available.
4. Permanent Residence Visa
Do you wish to make it official and declare your new home in Hong Kong? To do so, you’ll need to have lived in the city for at least seven years. If you’re an investor and meet the required income threshold, you may apply for an L-1 visa. So, to give a specific example, you might begin with any of the above visas and then move on to this if everything goes as planned.
What is the duration of a work visa?
|Type of Visa||Mean Soundness (years)||Renew Options||Category|
|Investment||1-2||Yes (if standards are met)||GEP|
|Employment||1-2||Yes (if standards are met and employee stays in the company)||GEP|
|QMAS||1||Yes (one more year)||GEP|
Investment Visa Criteria for Entrepreneurs
Of course, you should put your best foot forward while applying for a Hong Kong work visa. The government has implemented “improvement measures,” which are intended to boost the quality of employment visa applications received.
The most important one:
- A good understanding of your field is essential. Experience in it (which is, in fact, much better) or technical credentials, any other recognized or well-documented educational achievements
- Prove that your firm is capable of making a significant contribution to Hong Kong’s economy.
Here are some things that can help you when your application is being evaluated, especially in demonstrating the economic impact it may have:
- Business plan (at least 2 years)
- Turnover amount
- Cash flows
- Total investments (no specific amount specified)
- Make local employment potential
- The use of cutting-edge innovations, methods, or talents to complete a task
My Work Visa Application Is Now Finished, What Should I Do?
You have a few options now, including taking your forms and all related documents by mail or delivering them straight to the Hong Kong Immigration Department. Before sending your papers, double-check that they’re all complete and signed. Rephrase your application to include any changes that may have occurred since the last review. Verify for yourself that all prerequisites are satisfied one more time before submitting your application. There is a HK$230 surcharge in addition to the one listed above.
How Long Will It Take for My Application to Be Resolved?
Depending on any restrictions and documentation that must be supplied as soon as possible after your visa application is accepted, the actual interview might take anywhere from 4 to 8 weeks.
How FastLane Can Help?
While you wait, we can help you start a business in Hong Kong by beginning the application process for an employment visa hong kong so that you may begin planning how to relocate your company. Our bookkeepers and accountants are eager to answer any of your inquiries.