Probably, everyone has heard something about Hong Kong. Hong Kong is an administrative region controlled by the Republic of China. The Hong Kong economy is characterized by low tax charges, open business, and less government interference. Millions of people from China and other countries visited this region for various reasons. One of the reasons for visiting Hong Kong is business. Considering that some readers may be interested in the Hong Kong business visa, we decided to talk about it. In this blog, you will get answers to these questions: what are Hong Kong business visa requirements, How much does Hong Kong business visa cost, how long Hong Kong business visa processing time takes, how to get visa to Hong Kong, and more.
Hong Kong visa policy
If you are not from one of the visa-waiver countries, you need to get a visa. There are various visa types depending on the duration of stay and the purpose of the visit. In general, we can divide visa types into these categories:
• Visitor/Transit Visa
• Study Visa
• Employment Visa
• Training Visa
• Investment Visa
• Pre-arrival registration (It is only for Taiwan citizens and Indian nationals)
Can Chinese people visit the region freely? Citizens of the Republic of China can stay in the area for a maximum of 7 days with an Exit-Entry Permit. They can get an Exit-Entry Permit from the Public Security Bureau. It is a two-way permit, and people will get a chance to travel to and from Hong Kong Macao. Chinese citizens with the right of residence in Macao can stay for a maximum of 180 days (with a Macao permanent ID Card). On the other hand, non-permanent residents can stay up to 30 days ( only holders of Visit Permit for Residents of Macao to Hong Kong).
Also, people from China that live abroad need to get a Hong Kong visa (Entry Permit) obtained from Chinese embassies and consulates. The duration of stay with this permit changes between 14-30 days.
Hong Kong business visa
First, you should know what a Hong Kong business visa is and what it allows you to do. This visa type is generally called an investment visa, but we will call it a business visa to make it easier. Business visa to Hong Kong is a dream of thousands of people. It is a special visa type that allows foreign people to travel to Hong Kong to start their own business. As the government designed it for foreign investors, people from the mainland of the Republic of China can not apply. Moreover, if you are from one of the following countries, you are not eligible for a business visa to Hong Kong.
• North Korea
Hong Kong business visa requirements
Of course, to get this visa, you must fit the requirements. Countries put such kinds of terms to choose the best candidates. Otherwise, it can reach an uncontrollable level. The terms are:
• No criminal record
• Good educational background
• Business plan for two years period; All applicants must provide their business plan, and it must show nature, market analysis, market positioning.
• Financial resources. The applicant must prove that he (she) has enough funding to run the business. They will provide their own and company bank accounts for the previous year and evidence of other financial sources. If they have, they must show the latest audited financial record of the company.
• Investment amount. Another document that you will need to provide is paper proof of the amount of capital investment in Hong Kong. It will be checked by Immigration Department, and they will decide that that amount of money is enough or not.
• The number of locally created jobs; The applicant will show the structure of his (her) company. The structure of the company means the number and level of actual available jobs. The number of workers and positions changes depending on the type and scale of the business.
• Introduction of new technology or skills; All businesses that are planned to start in Hong Kong must bring some benefits to the country and people. Here you will show what kind of improvements your business will bring to Hong Kong's high-value-added industries and how it will affect the long-term growth of the knowledge-based economy of Hong Kong.
• Business turnover. Let's consider that the applicant carries on a relevant business abroad or has joined a business in Hong Kong. In that case, he (she) must present a profit and loss account statement and a balance sheet showing the turnover and earnings in the past year. Immigration Department will decide whether the applicant has relevant investment or experience in the field or not.
Which documents should I provide? The list of necessary documents is a little bit longer. We consult you to prepare a checklist. It will help you to ensure that you have all the documents.
• Hong Kong business visa application form; Applicants must complete the Hong Kong business visa application form fully, sign and date.
• Photo. The size 3,5x4,5, on the white background, with clear facial features and eyes, and a frontal view of the face covering 70-80% of the photo.
• Passport and copy of the main page. Validity minimum of six months beyond the date of return, at least two free pages, and details about re-entry visas if you have any.
• ID Card copy
• Copy of the document that proves your educational qualifications and work experience
• Proof of financial means. For example, you can provide bank statements
• Copy of employment contract of the company or appointment letter. These documents must include salary, post, employment periods, health insurance, vacation days, sick days, etc.
• Investment plan for two years. Information about the amount of the investment, business activities planned, office or showroom that will be set up, etc.
• Evidence of business activities of the company. Here you will provide a copy of the contracts, business deals, and invoices.
• Evidence of financial stability of the company. You can prove it with a profit and loss account, the latest audited financial record, and a profits tax return.
• Information about the background of the company: Applicants will give some details of the company such as business activities, product range, sources, markets, and more.
• Copy of tenancy agreements and supporting documents on office set-up
• Evidence of jobs created for local people
• If the applicant has invested in Hong Kong, then a copy of the business registration certificate and copy of business registration particulars are needed.
• Copy of documents filed with the companies registry
• Copy of licenses or certificates for the operation of the business
• For people who aim to establish or join a startup. The letter that proves support by a government-backed program
• Some documents related to children
Hong Kong business visa fees
How much does a Hong Kong business visa cost? The average payment is 30 USD, but it may vary depending on the application country. Even under some circumstances, you can be free of Hong Kong business visa fees. Where will I pay the fee? There can be two versions:
• If the applicant applied to the Immigration Department: Applicants can pay the charges by cash, EPS, or cheque. The cheque should be crossed, made payable to the Government of the Hong Kong Special Administrative Region. Also, it should be properly dated and signed.
• If the applicant applied to centres, embassies, or consulates: In that case, the visa fee must be paid straight to the Chinese diplomatic and consular mission or the Immigration Division of the Beijing Office or the Immigration Division of the SHETO as suitable.
Hong Kong business visa processing time
After submitting all required documents, paying the fee, and participating in an interview, you will need to wait for an answer. They will get in touch with you via email or phone. How long does the Hong Kong business visa processing time take? The average processing time for a visa is 4-6 weeks. It is important to note that the Director of Immigration reserves complete discretion to refuse any application even if the application meets all qualification standards.
How to get visa to Hong Kong?
Above, we mentioned documents, details, and other requirements that you will need to fit in to get a visa. If you have all these criteria, it is time to answer where you can get the visa. As we mentioned in previous sections, applicants can realize their application abroad and in Immigration Department. If you are abroad, then you can apply in visa application centres, embassies, or consulates, whichever accepts visa applications in your country of residence. If none of them is available in your country, you need to apply to the nearest embassy or consulate to your location.
Extension of the stay-duration
Applicants that will get permission to start a business in Hong Kong will get a chance to stay in the country for a maximum of 24 months. What if I want to extend a visa? People who want a visa extension must apply in Hong Kong Special Administrative Region within four weeks before their limit of stay expires. Applications will be only admitted when the applicants continue to meet the eligibility criteria for a visa. Extension of stay will usually follow the 3-3 years model on employment conditions (if approved).
Finally, I wish good luck to everyone that reads this topic. I hope the information that you read here will help you.