Others

Hong Kong Expense Visa for Hong Kong – 1-Man Companies Can Acquire Approval

We have recently had a pair of fascinating Hong Kong investment decision visa ‘wins’ which fly in the confront of the generally parlayed mantra that ‘one male companies by no means get approved’ by the HK Immigration Department (the “HKID”).

What follows can not be said to implement in every single occasion of a one particular-man only investment decision visa application for Hong Kong, but it does talk to the reality that this sort of businesses CAN in truth acquire an acceptance from the HKID – if only you have:

A compelling rationale for beginning out as a single operator.
Conveniently accessible cash to commit at a amount that is somewhat greater than the bare least 6 months money movement.
A dynamic in your enterprise plan that is compelling or in any other case gives desirable or scarce ‘human capital’ to the HKSAR.
A manifestly apparent intention to generate nearby jobs sooner or later, if not right away.
Your ducks in any other case completely lined up!

With the specifics a bit altered to shield the confidentiality of our clients, listed here are the important circumstances of 2, different ‘one male businesses’ which went on to secure the approval of the HKID underneath our counsel and with us taking care of the programs.

www.fastlanehr.hk concerned an interior style services skilled who had a number of several years prior residence in Hong Kong as an personnel but was shifting professions entirely in signing up for in his new business. His organization was ‘him’, for all intents and functions but he did have some ‘family IP’ which he was bringing to the organization, which his father experienced used in a equivalent family members firm in the British isles for over 30 many years. Although his father had retired some a long time beforehand, he was appointed to the board of our client’s 1 guy minimal liability company and was manifestly heading to support out his son out with counsel and advice. Toss in twelve months value of cash all set to make investments, the support of specific HK contacts who indicated they would offer business to this, initially, 1 male procedure and a plan which plainly demonstrated that if the expansion trajectory was attained, new employment would be produced as certain as night follows day, the HKID acquired into the argument and accepted the application with no much more fuss than can be predicted where there are significantly more substantial scale expenditure plans for Hong Kong.

The next instance took in a woman psychological wellness professional in a career that does not call for official registration in the HKSAR and who was looking for to set up a new exercise, getting developed tired of doing work in a recent work in Hong Kong which was not in any way linked with her true qualifications. As it occurred, the business rationale for starting up the company was constantly likely to be nebulous – she was the solution, following all, and she only had a finite quantity of time that she could offer. Certainly, at the very least one particular local job was to be produced four months into the enterprise prepare and the income offered for expense was virtually just enough for set up and 6 months’ income circulation. Nevertheless, her region of experience was so compelling and in this sort of brief supply in the HKSAR, our suggestions was that the ‘substantial contribution’ aspect of the investment decision visa approvability examination ought to be argued in the context of the help afforded to pressured out Hong Kong bankers and attorneys and that her exercise was in no way going to be a significant income spinner throwing off new jobs still left proper and centre. It labored and her visa was approved in double-rapid time.

Leave a Reply

Comment
Name*
Mail*
Website*