IANG visa extension but currently no employment

[glutto]

Hi guys,

I am just looking for some advice regarding my visa situation.

I have been in Hong Kong for 6 years now, have a degree from a HK uni so currently on an IANG visa that expires mid August.
Problem is I resigned from my job in March (IANG visa does not get terminated once you resign) in order to run my own business.
When I talked to immigration yesterday they told me I need to be employed in order to extend IANG visa, they also told me it is very unlikely my new business will be enough to get an "investment visa", esp. before August. The only option they could think of is for me to find employment, get the visa extension, and resign right afterwards. However, I have no interest playing this game lying to an employer, get a job, only to resign shortly afterwards.

So can anyone think of a way for me to solve this? Would be a shame to "reset" my count towards permanent residency.
And yes, I know I SHOULD have thought about this before I resigned!

Thanks a lot

[Claire ex-ax]

1. Get a job for the extension, at least till you have gotten PR. Stay a bit longer so you can pretend to assuage your conscience.

2. Enrol for post-graduate degree. Study till you have gotten PR.

3. Get married, till at least...

[wtbhotia]

When I talked to immigration yesterday they told me I need to be employed in order to extend IANG visa, they also told me it is very unlikely my new business will be enough to get an "investment visa", esp. before August. The only option they could think of is for me to find employment, get the visa extension, and resign right afterwards. However, I have no interest playing this game lying to an employer, get a job, only to resign shortly afterwards.

Listen to the professional advise, dont let 6 years go to waste just because you want to be a nice guy or girl FFS

Get a job, get visa extension, continue working on your business also. Noting hard about it.

[er2]

That is somewhat odd - running your own business is perfectly valid and you do not need employment to renew IANG. You do need an actual business though - dabbling in day trading at your computer at home is not enough. how much of an actual business do you have?

[glutto]

Thanks Claire and wtbhotia, what you guys say makes total sense, will pursue the job path if no other solution comes up, simply not worth losing the 6 years just to be a "nice guy"!

That is somewhat odd - running your own business is perfectly valid and you do not need employment to renew IANG. You do need an actual business though - dabbling in day trading at your computer at home is not enough. how much of an actual business do you have?

The info I could find on immigration website about IANG extension says; "For those who have established or joined in business in the HKSAR, they are required to produce proof of their business."

I asked about this at immigration, according to the officer the criteria will be the same as "investment visa" (or GEP Entrepreneurs as it seems to be called now?), meaning they will take these into consideration:
Business plan
Business turnover
Financial resources
Investment sum
Number of jobs created locally
Introduction of new technology or skills

I am the sole sharholder of a limited HK company established around 15 months ago. Doing consulting towards foreign clients, revenue around 600k HKD last 12 months, no employees and a virtual office only. Maybe I should meet with someone like investHK to see if they can guide me. From my experience immigration can sometimes give very conflicting answers.

[Oldtimer]

$600K revenue from consulting in one year is not bad. How much would your job pay? If it is about same amount, then why should there be any problem? If your company gives you salary equal to what you were earning before, then what is the difference?

[glutto]

$600K revenue from consulting in one year is not bad. How much would your job pay? If it is about same amount, then why should there be any problem? If your company gives you salary equal to what you were earning before, then what is the difference?

True, profit is around the same or slightly more than I made when I was employed, will approach immigration again for more details. Thanks for input

[er2]

This is strange - and outright contradictory to what I was told by ImmD (I was an IANG holder before as well). As long as your business generates returns that are in line or above what a local with the same degree could earn being an employee then you should have no problem at all extending your visa. Of course they will want to see documentation et al to make sure your business is legitimate, but whether or not you employ locals would be as irrelevant as whether or not a local could do your job as well were you an employee.

My gut feeling is that either the officer was either clueless (I imagine the number of sole proprietors among non-local graduates is rather low), or had other motivations to discourage your application (visas happen to be a bit harder to come by if you're of south asian descent). I would straight away apply for extension - provide all documentation necessary for them to see that you run a bona fide business. At the same time, talk to your school's alumni or career office. Unless you did an MBA, you probably earn more then 80% of your class - they could back you up should ImmD's initial reply indeed be negative.