Your business has been growing exponentially and you are finally ready to expand to one of the world’s commercial business hubs – Hong Kong. For as long as you can remember, this has been your ultimate dream – setting up your business in Hong Kong. You are now ready to take the plunge and make your lifelong dream true.
However, before you can do business in Hong Kong, you will be required to obtain a business visa in Hong Kong. No doubt, the application process can be cumbersome and time-consuming.
But, with the right information and guidance, you can successfully obtain your business visa Hong Kong and start your successful journey towards conquering the commercial business hub of Asia.
In this particular article, we shall be taking you through the step-by-step process of obtaining a business visa Hong Kong with the hope that by so doing, we shall be fulfilling your lifelong dream of conquering the Hong Kong market and hopefully even expanding to mainland China.
Types of Business Visa for Hong Kong
Before we get into how you can apply for a business visa for Hong Kong, it’s imperative to note that there are 2 types of business visas for Hong Kong: Investment visa and Employment visa.
The investment visa is basically for entrepreneurs who wish to set up their businesses in Hong Kong while the employment visa is for individuals who’ve been offered a job in Hong Kong.
For the purposes of this article, we shall be focusing on investment visas for individuals who want to set up their own businesses in Hong Kong.
This is because an investment visa is the most relevant type for entrepreneurs and budding investors.
Eligibility Requirements for an Investment Visa
In order for you to be eligible for a Hong Kong investment visa, you must meet the following requirements.
- You must have a good educational background and/or relevant work experience.
- Your proposed business in Hong Kong must have a solid business plan.
- You must demonstrate satisfactorily that your proposed business will bring significant economic benefits to Hong Kong.
- You must have sufficient funds in your bank account for upkeep to support yourself and your family without relying on public assistance in Hong Kong
Step By Step Guide To Obtaining Business Visa for Hong Kong
Now that you’ve understood the criteria you must meet to be eligible for a business visa Hong Kong, let us now take a look at the step by step process for obtaining a business visa for Hong Kong.
Develop a Solid Business Plan
Before everything else, your first step towards successfully obtaining a business visa for Hong Kong is developing a solid business plan for your proposed business in the special administrative region of China.
Your business plan should be comprehensive and include a detailed description of your proposed business, marketing strategy, financial projections, target market, and funding sources.
Your business plan should be able to demonstrate how your proposed business will bring economic benefits to Hong Kong.
Incorporate Your Company in Hong Kong
Once you are done with developing your business plan, the next step is company incorporation. This is where you register or incorporate your business in Hong Kong and obtain a business registration certificate from the Companies Registry.
You are also required to open a bank account when incorporating your business.
Submit Your Visa Application
With your business plan and business registration certificate in hand, you can now kick-start the process of submitting your business visa application to the Hong Kong immigration department.
To do so, you will be required to provide the Hong Kong immigration department with a range of documents.
These documents include but are not limited to your business plan, company registration documents, financial statements, proof of source of funds, academic certificates, a copy of your passport, and a copy of the Hong Kong identity card if applicable.
Attend an Interview
If your business visa for Hong Kong application is successful, you will be invited for an interview with the Hong Kong immigration department. The interview is meant to get your insights on the business plan you submitted, as well as your ability to bring economic benefits to the special administrative region of China.
Receive Your Visa
Upon a successful interview and having met all the visa requirements, the Hong Kong immigration department will grant you an investment visa. This essentially means that now you can travel to or visit Hong Kong and set up your business. The length of your business visa Hong Kong is dependent on the nature of your business as well as your financial situation.
Business Visa Hong Kong : Tips for a successful application
To help you successfully apply for and obtain a business visa for Hong Kong, the following tips would come in handy.
- Take your time to develop a solid business plan that is detailed and demonstrates the economic benefits that Hong Kong stands to enjoy.
- Ensure that you have a business registration certificate in your possession and that every document related to company registration is in order.
- Have the necessary financial statements as well as financial documents showing proof of the source of funds.
- Exhibit honesty and transparency in your business visa application as well as during the interview process. If you falsify documents or are found to be providing misleading information in your visa application form, you will be denied a visa and even be banned from ever traveling to Hong kong or the people’s republic of China.
- Consider hiring a reputable and trustworthy immigration consultant such as Primasia to help you navigate the complexities of applying for a work permit or business visa in Hong Kong. They understand local laws, and what the Hong Kong immigration department requires to approve a visa application, and have the expertise and knowledge to streamline the visa application process.
In conclusion, there is no denying that applying for a business visa Hong Kong can be a cumbersome and time-consuming process.
Obtaining a business visa for Hong Kong is an extremely important step for any applicant that wishes to visit the special administrative region of China for work, employment, or investment.
Before you make an application, you should familiarize yourself with the specific requirements of the immigration department of HKSAR as regards the visa application process.
You need to provide a passport-size photo, a valid passport, a business plan, academic documents, proof of source of funds, and other important supporting documents.
Despite the challenges posed by Covid – 19, HKSAR continues to open its door to people from all over the world to come and do business investments in the city.
Local and Chinese residents have the option to apply for a special entry scheme. Chances are that you are not conversant with Hong Kong laws regarding the application for a work permit, investment visa, or entry regulations.
By following the steps outlined in this article, you can increase your chances of obtaining a business visa for Hong Kong without much of a hassle.
However, we do understand that it’s easier said than done. The entry regulations, the paperwork, and the complexity of the whole process can at times be overwhelming and draining. You don’t have to go through all these.
This is where we come in as Primasia. We understand all the entry regulations, the requirements for a business visa Hong Kong, and the process, and have helped hundreds of applicants obtain their investment visas successfully.
Entrust us to help you with your business visa application and ensure that your desire to set up a business in Hong Kong becomes a reality!