We have recently experienced a couple of intriguing Hong Kong investment visa ‘wins’ which fly in the face of the commonly parlayed mantra that ‘one person enterprises hardly ever get approved’ by the HK Immigration Department (the “HKID”).
What follows can not be said to utilize in just about every single occasion of a a person-male only expenditure visa software for Hong Kong, but it does speak to the actuality that these types of firms CAN in truth get an acceptance from the HKID – if only you have:
- A compelling rationale for starting off out as a single operator.
- Readily out there money to spend at a level that is fairly higher than the bare minimum amount 6 months hard cash stream.
- A dynamic in your business enterprise plan that is persuasive or normally provides appealing or scarce ‘human capital’ to the HKSAR.
- A manifestly clear intention to produce community employment finally, if not straight away.
- Your ducks usually entirely lined up!
With the specifics somewhat modified to defend the confidentiality of our clients, listed here are the vital circumstances of 2, independent ‘one male businesses’ which went on to protected the approval of the HKID under our counsel and with us taking care of the applications.
The first associated an inside design and style products and services skilled who experienced a couple decades prior residence in Hong Kong as an staff but was altering careers absolutely in signing up for in his new company. His business was ‘him’, for all intents and reasons but he did have some ‘family IP’ which he was bringing to the business, which his father had applied in a similar relatives organization in the Uk for around 30 many years. Although his father experienced retired some yrs beforehand, he was appointed to the board of our client’s a person person restricted liability company and was manifestly heading to assist out his son out with counsel and assistance. Toss in 12 months truly worth of funds ready to make investments, the assistance of specific HK contacts who indicated they would supply small business to this, in the beginning, just one man operation and a plan which clearly shown that if the growth trajectory was attained, new employment would be designed as sure as night time follows day, the HKID purchased into the argument and approved the software with no extra fuss than can be anticipated the place there are considerably greater scale expense plans for Hong Kong.
The second instance took in a female mental wellbeing expert in a job that does not demand formal registration in the HKSAR and who was seeking to established up a new follow, obtaining grown exhausted of operating in a present-day job in Hong Kong which was not in any way related with her actual qualifications. As it happened, the commercial rationale for starting off the small business was constantly going to be nebulous – she was the solution, soon after all, and she only experienced a finite total of time that she could offer. Definitely, at the very least just one local work was to be established 4 months into the enterprise system and the hard cash accessible for financial investment was basically just enough for established up and 6 months’ dollars movement. On the other hand, her place of abilities was so compelling and in this kind of quick source in the HKSAR, our assistance was that the ‘substantial contribution’ ingredient of the financial investment visa approvability examination should be argued in the context of the assist afforded to stressed out Hong Kong bankers and attorneys and that her follow was in no way heading to be a big money spinner throwing off new employment remaining suitable and centre. It labored and her visa was authorised in double-rapid time.