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Hong Kong – perfect place for both leisure and work

Hong Kong differs a lot from European or Caribbean countries. Business immigration to Hong Kong attracts with low taxes, perfect location, and infrastructure. In addition, this world city is proud of its multicultural population, high economic standards, and close historical relations with the British monarchy. The royal legacy lies in developed infrastructure for travels throughout Asia-Pacific region, prestigious education, high-quality medical care and widespread knowledge of English.

There are important facts to consider before you decide in favour of business immigration to Hong Kong:

  • Hong Kong has exorbitant standards of living. The income is high, but so are the prices. For almost a decade, the jurisdiction gets top rankings in the ratings of most expensive cities in the world.
  • The property market is sky-high too. Hong Kong sells the most expensive commercial property in the world. In 2017, a developer bought a parking lot for $3 billion, making it $664,300 for a single parking cell. Another curious fact is that 10% of citizens have preferred to make the first property investment abroad.
  • GDP per capita in 2016 was $58,094.
  • Transparency International has awarded 77 points out of 100 to Hong Kong in the corruption-free Index.
  • The International airport (HGK) has annual passenger turnover of over 68 million people.

If you intend to take family members with you, then business immigration to Hong Kong will provide your beloved ones the following benefits:

  • The jurisdiction pays great attention to education, that’s why the city has turned into one of the most influential fin-tech hubs in the world.
  • The healthcare system of this small city-state has 53 both private and public hospitals. According to research in 2012, Hong Kong women on average lived the longest on the planet.
  • The jurisdiction’s restaurants have totally 87 Michelin stars.
  • The climate and exotic flare of Hong Kong are unique. Its resorts and destinations for sightseeing are hard to enumerate.

Business immigration to Hong Kong is a way to move to the most profitable region with a liberal immigration policy. Your business will benefit from reasonable taxes and prestigious registration status, due to the stability and profitability of the region. Moreover, welfare and climate are additional factors that attract many expats to the city. If you are interested in moving to the jurisdiction, find out more details below.

To begin with, business immigration to Hong Kong doesn’t foresee the second passport or integral citizenship. However, the jurisdiction offers attractive conditions of permanent residence, and the way to the latter lies in a particular type of visa and preceding temporary residence. Only ethnic Chinese and their spouses are entitled to the passport. The others get a special residency ID card.

Hong Kong is ready to host students, businesspersons or investors and their dependents for a continuous period. Correspondingly, there are three types of long-term visas. All the above-mentioned visas pave the way to Ordinary residence status.

 

Business immigration to Hong Kong via working visa is a strictly regulated and limited procedure. 

According to the law, a position should be granted to the locals at the first place. Therefore, if a non-resident is offered a job in Hong Kong, the choice must be justified towards the Immigration Service. An expat must have at least 3 years of expertise in the field and undergo an objective examination in order to prove that he or she is the best candidate for the position. A foreigner can apply for a strictly specialized or highly paid executive position.

What are the additional investing options of business immigration to Hong Kong?

If a non-resident wants to start a venture in the jurisdiction, he or she must submit a detailed business plan, give evidence of own sufficient funds, rent premises for the future company, as well as take a commitment to hire citizens of Hong Kong. The employees must be hired according to the law and they must have skills relevant to the area of company’s activity.

The authorities also foresee a temporary residency for wealthy investors. As the investment project is being implemented, the investor will be granted a temporary residence permit for the first time for 3 months, extending to another two and a half years and the possibility of further prolongation. Such scenario of business immigration to Hong Kong is available for high net worth entrepreneurs. The ways are the following:

  • Register a company and prove the existence of equity capital amounting at least 6.5 million HKD;
  • Invest 10 million HKD in jurisdiction’s economy

There are important key features:

  • The authorities review the sum every 3 years
  • It is not compulsory to participate in the investment management
  • The money is transferred 6 months prior to filing an application or no longer than 6 months after a residence permit is being provided
  • 7 years of temporary residency give a chance to obtain a permanent residency ID card in case of successful governmental check-ups

Property acquisition makes up only 20% of all investment programmes of business immigration to Hong Kong due to strict regulations and procedures.  

Other investment options include a purchase of shares and bonds, debts securities or government-issued deposit certificates. Because of high costs, investment programmes are less popular than working-investment ones.

If your business is related to the Asia-Pacific region or you just want to take advantage of the benefits of the Asian Tiger, Intelligent Solution Group will save your time and money by drafting all the documents properly, registering a business and opening bank accounts.

The authorities are tolerable and friendly to potential immigrants, but Hong Kong is the region where the exact observance of terms and procedures is a priority. Scrupulousness regarding the processing of documents is guaranteed. Applicants must put maximum effort to carefully observe all the procedural subtleties when preparing and submitting the documents. The consultants of Intelligent Solution Group have answers to all questions regarding the specifics of business immigration to Hong Kong.

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