Requirements for Hong Kong investment visa applications
Typically, Hong Kong business investment visas need at least a period of four to six months to get approved, unlike the typical six to eight weeks required for employment visas. This is mainly to provide sufficient time for the authorities to ensure that the new prospective business can achieve stable early commercial results, and it also allows the Hong Kong Immigration Department to fully appraise the validity of the company’s submitted business plan, with the tangible implementation of business activities.
While the Hong Kong Immigration Department expects the business to operate well, only a few Hong Kong investment visas are granted based on a sound business plan. In many cases, the approvals are limited to medium to large-sized foreign corporations that are extending their operations into Hong Kong.
The predicament here lies in the fact that one cannot participate in operating a business locally until the Hong Kong Immigration Department first approves of the business. It can be quite hard for an application to be approved if the Hong Kong Immigration Department cannot assess the business’ contribution to the Hong Kong economy. However, in some cases, if an individual has already submitted a Hong Kong Investment Visa application, the Hong Kong Immigration Department will tend to overlook this technical breach of the conditions of running a brand new business before actually having their investment visa application to Hong Kong approved beforehand.
What should you include in your business plan for your Investment visa application Hong Kong?
A sound and viable business plan is extremely important when applying for an investment visa for Hong Kong. You can demonstrate the viability of your business plan by showing how it can contribute to the economic growth of Hong Kong.
Hence, your business plan should include:
- Details about the nature of your business
- Market analysis to show that there are gaps in the market that your business can fulfil
- Business direction
- Product marketing strategy
- Sales target, and more.
You should also provide evidence that you have access to sufficient funds to run your proposed business. You can provide documents such as your personal and company bank accounts, letter of credit, audited financial reports, and so on.
Another piece of information you should include in your business plan is the extent of employment your proposed business could stimulate in the local workforce. Doing so will make your business plan be viewed more favourably.
Individuals are technically not allowed to operate and start the business before they have submitted the Investment visa Hong Kong application and obtained approval. Thus, to prevent any possible prosecution by the authorities, an application that has a chance to be approved should allow the Hong Kong Immigration Department to have a clear early view of the prospective activities, and sign for the approval of the Hong Kong Business Investment visa in the application process.
Not only will the authorities assess in detail whether your dedication to your business and the economy of Hong Kong is strong enough and authentic, applicants should also prove that there is sufficient capital to fulfill your stated business plans, and your personal qualifications meet the Department’s requirements as well. If the Department deems you are eligible, and that all requirements are fulfilled, it can be said that it will be very unlikely that they will have grounds to reject your investment visa HK application.
Hong Kong investment visa application
All applicants are advised to provide honest documentation during the Hong Kong investment visa application process. The application itself with supporting documents should be submitted to the Hong Kong Immigration Department by post.
Should your application be successfully approved, the applicant or an authorized representative is required to go to the designated Immigration Office in-person to collect the visa/entry permit label. In the event that your investment visa to Hong Kong application is rejected, there are procedures to allow for the applicant to submit an appeal to the Hong Kong Immigration Department.