We have just lately experienced a pair of fascinating Hong Kong investment decision visa ‘wins’ which fly in the face of the commonly parlayed mantra that ‘one gentleman companies by no means get approved’ by the HK Immigration Department (the “HKID”).
What follows can not be reported to apply in every one occasion of a one particular-guy only investment decision visa software for Hong Kong, but it does talk to the reality that these firms CAN in fact receive an approval from the HKID – if only you have:
- A compelling rationale for starting off out as a one operator.
- Conveniently out there resources to devote at a stage that is to some degree higher than the bare minimal 6 months dollars stream.
- A dynamic in your small business plan that is powerful or otherwise provides interesting or scarce ‘human capital’ to the HKSAR.
- A manifestly noticeable intention to build local careers inevitably, if not instantly.
- Your ducks usually completely lined up!
With the details slightly adjusted to guard the confidentiality of our clients, here are the important instances of 2, individual ‘one gentleman businesses’ which went on to secure the acceptance of the HKID underneath our counsel and with us handling the purposes.
The initially involved an interior structure expert services expert who had a few many years prior home in Hong Kong as an staff but was altering occupations wholly in becoming a member of in his new enterprise. His business was ‘him’, for all intents and applications but he did have some ‘family IP’ which he was bringing to the business enterprise, which his father experienced utilized in a comparable loved ones enterprise in the Uk for above 30 a long time. Even though his father experienced retired some yrs beforehand, he was appointed to the board of our client’s one particular male minimal liability corporation and was manifestly likely to assist out his son out with counsel and information. Toss in 12 months really worth of cash prepared to devote, the support of specific HK contacts who indicated they would give business enterprise to this, to begin with, one particular gentleman operation and a approach which plainly demonstrated that if the expansion trajectory was obtained, new careers would be designed as positive as night time follows day, the HKID acquired into the argument and authorised the application with no a lot more fuss than can be predicted where there are considerably bigger scale financial investment plans for Hong Kong.
The next instance took in a woman psychological overall health specialist in a profession that does not involve official registration in the HKSAR and who was trying to find to established up a new follow, having developed tired of functioning in a present job in Hong Kong which was not in any way linked with her actual qualifications. As it happened, the industrial rationale for starting up the small business was often heading to be nebulous – she was the item, following all, and she only had a finite quantity of time that she could provide. Unquestionably, at the very least a person regional position was to be developed 4 months into the company prepare and the funds accessible for investment was pretty much just enough for set up and 6 months’ dollars circulation. Nonetheless, her region of know-how was so compelling and in this sort of quick provide in the HKSAR, our guidance was that the ‘substantial contribution’ aspect of the investment decision visa approvability test really should be argued in the context of the enable afforded to stressed out Hong Kong bankers and legal professionals and that her practice was hardly ever heading to be a major income spinner throwing off new jobs left right and centre. It labored and her visa was permitted in double-rapid time.