We have recently experienced a couple of interesting Hong Kong investment visa ‘wins’ which fly in the deal with of the commonly parlayed mantra that ‘one gentleman enterprises in no way get approved’ by the HK Immigration Division (the “HKID”).
What follows won’t be able to be said to utilize in each and every single instance of a just one-man only financial investment visa software for Hong Kong, but it does discuss to the reality that these types of enterprises CAN in actuality receive an approval from the HKID – if only you have:
- A compelling rationale for starting out as a one operator.
- Conveniently available resources to make investments at a stage that is considerably greater than the bare minimum 6 months money circulation.
- A dynamic in your enterprise system that is compelling or if not offers eye-catching or scarce ‘human capital’ to the HKSAR.
- A manifestly evident intention to create local positions at some point, if not promptly.
- Your ducks in any other case thoroughly lined up!
With the specifics a little adjusted to protect the confidentiality of our consumers, in this article are the important situation of 2, individual ‘one guy businesses’ which went on to safe the acceptance of the HKID less than our counsel and with us controlling the applications.
The to start with associated an interior style and design services skilled who had a couple several years prior home in Hong Kong as an worker but was shifting careers entirely in joining in his new small business. His organization was ‘him’, for all intents and needs but he did have some ‘family IP’ which he was bringing to the organization, which his father had used in a identical family members organization in the Uk for more than 30 many years. Although his father had retired some many years formerly, he was appointed to the board of our client’s one particular guy confined liability corporation and was manifestly going to enable out his son out with counsel and advice. Toss in 12 months well worth of cash all set to make investments, the aid of sure HK contacts who indicated they would give organization to this, at first, one male operation and a prepare which plainly demonstrated that if the progress trajectory was achieved, new jobs would be created as absolutely sure as evening follows working day, the HKID acquired into the argument and authorised the software with no much more fuss than can be envisioned the place there are a great deal much larger scale expenditure designs for Hong Kong.
The next instance took in a female mental health skilled in a profession that does not require official registration in the HKSAR and who was in search of to set up a new exercise, having developed fatigued of doing work in a present-day task in Hong Kong which was not in any way linked with her actual skills. As it occurred, the business rationale for starting off the enterprise was usually likely to be nebulous – she was the item, immediately after all, and she only had a finite sum of time that she could promote. Definitely, at minimum a single nearby position was to be created 4 months into the business approach and the cash available for investment was literally just enough for set up and 6 months’ cash circulation. Having said that, her place of know-how was so persuasive and in this kind of short supply in the HKSAR, our suggestions was that the ‘substantial contribution’ factor of the investment decision visa approvability test really should be argued in the context of the enable afforded to stressed out Hong Kong bankers and legal professionals and that her follow was by no means likely to be a key dollars spinner throwing off new employment left ideal and centre. It labored and her visa was authorised in double-brief time.