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sole proprietorship - bank and management - doubts!

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  1. #11
    Quote Originally Posted by goutnet:
    And finally owning a company, is not the same thing as being employed by a company .The first one does not require visa, or even to be present in HK (you can create a company in HK without even setting foot in HK at all).
    so I can own the company (solo proprietorship), and the company can work, and I can get profit out to my personal bank account?

    for example contracting a director or an agent?

  2. #12
    Quote Originally Posted by goutnet:
    In fact it really is that simple:

    HK employment visa comes strings attached: you are bound to your employer.

    You can create a side business (sole proprietorship or limited company, I did the second), but then you will need to get an extension for your visa to actually work for that new company as a side business.

    If you loose your current job at your current company, or if your HK visa is cancelled (because you work in China not in HK), then you loose the right to work in Hong Kong for any company (that is, of course, unless you have a PR, but your question shows that you don't).

    If you change job to another company, you will have to ask again this new company permission to join in your side business, and again submit the application to the Immd.

    The process by itself is not really hard (I made another post to explain what I did on this forum) right here: https://geoexpat.com/forum/54/thread346460.html

    The application took about 2.5 weeks in my case and was pretty straightforward (once you get the paperwork ready that is).

    Definitely, if you want more info or need expertise, the HK Visa Geeza is the goto person. We used his service for my initial visa (and some follow up consultancy), I highly recommend him.

    that's very clarifying.. thank you for this!

  3. #13

    Join Date
    Dec 2017
    Posts
    46

    Well: to answer:

    so I can own the company (solo proprietorship)


    yes… but I think solo proprietorship requires you to be employed as director, (not sure here), this is as far as you go. The situation is different with Limited companies.

    , and the company can work
    yes, but you can not work for it unless your visa allows you to do so. You could employ others (who have the right visa status) to work for it… that said, not sure about how solo proprietorship works with directors and such (I really only work with Limited companies so I did not look into these).

    , and I can get profit out to my personal bank account?

    for example contracting a director or an agent?
    Here again, that is a question that I can not really answer, as I am no expert in sole proprietorship, but I would say, for Limited company, yes (as a shareholder, you can perceive dividends) …

    … But I doubt you can do that with sole proprietorship, you would need at least a limited company to have the proper statuses, not sure here.

    That said, don't think of the Immd as fools, if you actually work for your company, they will find out, and that status will be reported when you renew your visa. Since that will be a breach of your condition of stay, you are very likely to run in trouble.

    I strongly discourage you to try and break the Immigration law, it never ends well.

    If you do a consultancy job, just extend your visa status.