Finding Success with Your Hong Kong Entrepreneur Visa Application
Hong Kong Program |
Hong Kong Entrepreneur Visa |
Hong Kong Business Immigration |
Hong Kong Residency |
May 18, 2017
In February of 2017, QICMS introduced one of its newest Residency by Investment Programs: the Hong Kong Entrepreneur Visa, which allows high net worth and ultra-high net worth entrepreneurs and other business-minded individuals to enter the country’s diverse and rapidly-growing economy through business investment opportunities.
Hong Kong has remained a symbol for stability due to its political and financial systems. Hong Kong is also renowned for its welcoming atmosphere and is among the top places an individual can dream of living.
In this blog, we will discuss how Hong Kong’s unique economy is the key to finding success with your Hong Kong Entrepreneur Visa application.
Why Hong Kong’s Economy is for Perfect for Business
Although Hong Kong remains largely autonomous from the People’s Republic of China (PRC), the two share strong economic ties through the expansion of open markets and global trade. However, the economy of Hong Kong has continued to gain prominence in its own right, from rapid growth rates to the country’s distinguished economic freedom.
For the past 23 years, Hong Kong has enjoyed the title of the “World’s Freest Economy,” according to the Wall Street Journal and Heritage Foundation’s annual publication, the ‘Index of Economic Freedom’. In 2016, Hong Kong’s global score for economic freedom ranked in at 60.7 and jumped to an overall score of 89.8 for 2017, which boasts the highest ranking in the Index’s decades-long history. The country’s economic freedom score, however, is not the only number rising.
Last week, Hong Kong’s economics ministry released official data that has indicated a rapid growth rate for the projected year, with numbers rising in international trade, employment and higher wages, property markets, and tourism. The ministry has reported a rise of 0.7% in Hong Kong’s GDP, taking the country’s annual growth rate to over 4%—more than 3% from the previous year.
With Hong Kong’s economic freedom and flexibility unlike any other in the world, it’s no wonder that the Hong Kong Entrepreneur Visa program is a convenient choice for wealthy foreign investors seeking entrepreneurial opportunities overseas.
What is the Hong Kong Entrepreneur Visa?
In short, the Hong Kong Entrepreneur Visa grants foreign investors a temporary residence permit (which is renewable and can lead to permanent residence status) in exchange for a capital investment into Hong Kong’s dynamic economy. Like the country’s versatile economy, the Hong Kong Entrepreneur Visa provides five different investment options for entrepreneurs and business-minded men and women seeking opportunities to expand their wealth in one of the world’s fastest-growing international economies of 2017.
To obtain a residence visa (entrepreneur visa ) in Hong Kong, qualified applicants should consider the following investment options:
*Applicants who choose to invest in a government-backed start-up business are subject to a rigorous vetting and selection process.
- Establish or join in Hong Kong business, which includes submitting a two-year business plan stating the nature of the business, market analysis, market positioning, business direction, sales targets, product marketing strategy, etc.; OR,
- Applicants who are currently running a relevant business overseas or has joined a business in Hong Kong, he or she must submit the profit-and-loss account statement and balance sheet that detail business turnover and profit figures for the previous year of the existing business; OR,
- Applicants who intend to establish a business in Hong Kong must submit a two-year forecast of profit-and-loss account statement and balance sheet, including anticipated business turnover figures; OR,
- Applicants also have the option of introducing new technology or skills that inspire creativity in the high-value-added industries of Hong Kong, or if applicants have taken out patent(s) that contribute to the long-term development of Hong Kong as a knowledge-based economy; OR,
- Establish or join in a start-up business if it is supported by a government-backed program* and the applicant is the proprietor or partner of the start-up company or a key researcher of the relevant project.
Unlike most—if not all—Citizenship and Residency by Investment Programs, Hong Kong’s Entrepreneur Visa does not have a minimum investment requirement. In fact, all investment options are relative to a number of factors which include (but are not limited to) the applicant’s business proposal and the economic benefit of the intended business.
Improving Your Chances for Success
It might be easy to bypass lesser-known Residency by Investment Programs when comparing them to major game-players like the United States and Canada, but when it comes to opportunity, Hong Kong’s Entrepreneur Visa offers foreign investors direct access to its robust economy and rich pools of innovation for business-savvy men and women.
In addition to Hong Kong’s rising economic freedoms and benefits, Hong Kong’s Entrepreneur Visa provides successful applicants and their immediate family a number of perks including tax breaks on outsourced income as well as estate, sales, and capital gains taxes.
Applying for an investment visa (entrepreneur visa) in Hong Kong using a well-known firm is the simple way that raises the probability of approval by a huge margin—another key to your success! If you would like to learn more about opportunities through the Hong Kong Entrepreneur Visa, contact our offices today to discuss your Residency by Investment options with our team of qualified professionals.
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