Hong Kong is a metropolis that is famous for its global connectivity, vibrant culture, thriving economy, and is the place of choice for many people who want to look for new opportunities. Everyone has different needs when they want to travel to Hong Kong. Some are pursuing a new job, studying at the educational institutes, or seeking opportunities as investors or entrepreneurs. For various existing needs, Hong Kong offers several visa options tailored to individuals' needs. If you are going to Hong Kong for business, this article will tell you about business visa for HK foreigners.
What is a business visa in Hong Kong
There are many foreign companies or foreigners who want to open a business or individuals who want to work in a Hong Kong company and live in Hong Kong. For some of these needs, entrepreneurs, or job seekers, need to apply for a visa for themselves for their work and business matters. There are several main types of business visa for HK foreigners, namely Hong Kong employment visa, Hong Kong investment visa, and M visa (Mainland China business visa).
Hong Kong Employment visa is used for individuals who want to work in a Hong Kong company and stay for a long time. Applicants need to have special skills, experience, knowledge, and a good educational background. Each application is based on the applicant's qualifications and the sponsoring company.
Hong Kong investment visa for foreign entrepreneurs who want to start and run their own business and relocate to Hong Kong. There are assessment criteria for businesses that want to open a new company or branch in Hong Kong, one of which is that the company must be able to prove that the business can make a significant contribution to the Hong Kong economy.
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As a bonus, we will inform you about the M visa or Mainland China business visa for individuals who wish to come to Mainland China on a short-term basis, for visiting clients and factories, commercial and trade activities, signing contracts, or negotiating with clients.
How do I get a business visa for Hong Kong?
How to get a business visa for HK foreigners depends on eligibility. For the HK employment visa, it depends on you as an applicant (employee) or sponsor (employer). While the HK investment visa depends on you as an applicant (entrepreneur) or new business. There is no quota system for all visas related to this, because each application is considered based on its own merit.
For applicants' visas, there must be no criminal records or security objections. Foreigners must have a good educational background, achievements, relevant professional abilities, and experience. For entrepreneurs, the Immigration Department needs to obtain proof of available funding, such as assets or bank statements.
For new businesses and sponsors, the applicant must show proof that the business they will run has a substantial contribution to the Hong Kong economy. Even though there are no official minimum requirements, the Immigration Department expects the applicant to have an office space, have a significant investment that is in line with cash flow and business needs, create local jobs by optimizing for hiring Hong Kong employees during the first year of business.
How to apply for a business visa for HK foreigners
To establish or join in business for foreigners in Hong Kong, these are several steps that must be taken.
- Investment requirements
There are no minimum requirements from the authorities when foreigners apply for a Hong Kong visa. But after the application is running, the authorities will examine your business plan to see whether it is in accordance with your proposed investment and is sufficient with your business plan. You need to ensure that the proposed investment covers the operational expenses and start up for at least 3-6 month period.
- Eligibility criteria
The applicants must not have any criminal records or security objections. The applicant is preferable to have at least an undergraduate degree that is appropriate to the business being run. If no degree is specified, applicants need to demonstrate relevant professional abilities, documentary evidence of good technical qualifications, and experience or achievements.
The business must prove that it will make a substantial contribution to the economy of Hong Kong by how the company will create jobs for the local workforce, utilize the suppliers in the area, services of local service providers, manufacturers, etc.
- Document required
There are several documents that must be prepared by the applicant. First, completed application form. Second, a copy of the personal page of the passport or stay label in Hong Kong. Third, a copy of proof of relevant working experience and academic qualifications. Fourth, a copy of the company's appointment letter, employment contract, detailed information about salary, post, fringe benefits, and employment period.
Some other things are a copy of proof of the overseas residence, a copy of the Business Registration Certificate, and a detailed two-year business plan starting from the amount of investment, setting up showroom/warehouse/office, business activities, and creation of local jobs posts.
- Application procedure and timeline
The application needs to be submitted to the Hong Kong Immigration Department by post, and processing time is about 3-5 months. If the application is successful, the Immigration Department will issue an Entry Permit or visa label and must be collected from the immigration office in-person by authorized representative or the applicant. In case if the application is rejected, you can submit an appeal to the authorities.
How to easily apply for a business visa for HK foreigners
If you are confused about arranging everything for your new business in Hong Kong or your need to work in Hong Kong is urgent, you can use the services of SMEBrother to solve your business visa problem. We can take care of all the documents needed for a business visa, and you just have to wait until the application is complete, and can immediately notify you if there is anything needed for an appeal or other important things.
SMEBrother is the right place to take care of everything foreigners need for everything from business, licensing, legal, to information to advance business. Immediately check our website for whatever you need for the progress of your business and interests.
