While Hong Kong does not have a citizenship by investment program, it does provide several pathways to residency for talented individuals, professionals, and entrepreneurs. In 2015, the Hong Kong core resident program was suspended.
Hong Kong presently has various employment and investment visa categories. After 7 years of living in Hong Kong, a Permanent living Visa can be issued, and citizenship can be requested for after 10 years.
Hong Kong Residency Visa Options
The Immigration Department of the Government of Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China launched the Capital Investment Entrant Scheme in September 2003.
Prior to the scheme’s implementation, people seeking residence in the HKSAR in exchange for investment had to rely on a subset of the employment visa known as the Employment Visa Based on Investment in Hong Kong (the business investment visa). Despite the suspension of its Capital Investment Entrant Scheme in 2015, the Hong Kong Special Administrative Region (HKSAR) offers a number of other residence programs.
Hong Kong provides a route for entrepreneurs looking to establish a business in the city. The Hong Kong Investment Visa, often known as the Entrepreneurship Visa, is the official entrance for Investment as an Entrepreneur in Hong Kong. It enables individuals with permanent residence in another country to get landing, entrance, and residency rights by working for their own Hong Kong registered firm. This visa is required to get a Hong Kong employment visa under the General Employment Policy (G. E. P).
Benefits of tax residency in Hong Bong
Some of Hong Kong’s many advantages include:
- Economic and political stability, strategic location, and a major financial and trading center
- Stable currency (Hong Kong dollar)
- Well-established legal system based on English common law and transparent regulations
- Premier gateway for trade and investment into and out of mainland China
- Freest economy in the world
- Low personal income tax, capital gains and property tax
- No restrictions on capital flows into and out of Hong Kong
Investment opportunities for residence
On January 15, 2015, the Capital Investment Entrant Scheme was officially suspended. There are, however, additional options for people who want to apply for Hong Kong residency. They are as follows:
1. The Quality Migrant Admission Scheme, which seeks highly trained or talented individuals to reside in Hong Kong in order to boost the economy, with the exception of nationals of Afghanistan, Cuba, Laos, Korea (Democratic People’s Republic of), Nepal, and Vietnam.
2. The General Employment Policy, which specifies the entrance conditions for anyone wishing to enter or remain in the HKSAR for professional reasons.
3. Investment as Entrepreneurs, for individuals who desire to come or remain in the HKSAR in return for starting or joining a firm as an entrepreneur under the General Employment Policy.
Quality Migrant Admission Program
The Quality Migrant Admission Scheme (QMAS) aims to encourage highly trained or talented people to reside in Hong Kong.
Applicants must meet the following requirements before being awarded points in one of the two point-based assessments listed below (qualifying persons from the Talent List are eligible for bonus points under the QMAS):
- The General Points Test – This test has a passing score of 80/225 and is divided into five categories: age, academic or professional qualifications, work experience, language proficiency, and family background.
- The Achievement-Based Points Test — For applicants who have received an award for exceptional achievement (such as Olympic medals, Nobel Prizes, national or international awards), or applicants who can demonstrate that their work has been recognized by their peers or has made a significant contribution to the development of their field (for example, a lifetime achievement award from their industry). Applicants who meet one of the test criteria will receive 225 points; otherwise, no points will be awarded and the application will be denied.
Hong Kong Investment Visa Requirements
Although no minimum investment or other financial resources are specified in this scheme, the business plan will be used to determine the initial investment amount.
In this respect, the sum is required to pay the expenses for the proper operation of the proposed business for a set length of time until it becomes profitable or sustainable.
Overall, the Hong Kong Immigration Department is concerned about the business investment visa program since it allows foreigners to create Hong Kong companies and demonstrate that entrepreneurs can contribute to the local economy as Hong Kong resident entities. As a result, ensure that this is reflected in your business plan.
All of the eligibility requirements
Applicants interested in the visa investment scheme must meet the following criteria:
- No criminal records or security objections from the Hong Kong police background check (performed at entry into the Hong Kong Special Administrative Region and further during the application procedure).
- Provide a diploma, certificate, or other documentation demonstrating you have appropriate skills and an educational background in your field.
- Assurance that the anticipated business will use local labor or create jobs locally for local labor, and that it will make every effort to collaborate with local suppliers, manufacturers, and service providers. More information will be provided.
- Before applying for an investment visa, a Hong Kong company must be registered. For further information on how to apply for a Hong Kong Company’s Business Registration Certificate, see this page.
Processing times
To get any of the aforementioned visas, the applicant must submit all necessary application forms and supporting documentation.
The Hong Kong Immigration Department typically takes four to eight months to complete visa or entry permission applications after receiving all relevant documentation.
Application approval is completely discretionary and subject to changes in government policies. Even if all eligibility conditions are met, the director of immigration has complete power to deny any application. Successful applicants are usually awarded a restricted extended stay of 24 months (only if there are no further conditions of stay at the time of admission).
Business registration particulars may apply to extend their stay in the HKSAR before their time limit runs out. Such applications will be accepted only if the applicants continue to meet the admission conditions for investment, the QMAS, or the General Employment Policy.
