Starting new business: Working Visa or Investment Visa?

  1. #1

    Join Date
    Jul 2009
    Posts
    2

    Starting new business: Working Visa or Investment Visa?

    Hi,

    I'm looking to start up a specialized IT consulting business in HK in a couple of months with an HK partner (he holds RTL). I was just wondering if it'd be better that I have my friend register the company first and try to sponsor me over on a working visa, or if I should just register for the Investment visa right away and which has the better chance of going through and/or is quicker?

    The working visa option I feel a bit skeptical about because it's a new business with very little in start-up capital and assets so not sure how willing HK would grant me a working visa on those grounds. Your feedback is much appreciated.

    Derek


  2. #2

    Join Date
    May 2009
    Location
    Tsim Sha Tsui
    Posts
    36

    I'm about to do the same think! to register a new business and later to make a investment visa! According to the visa's conditions I show on the immigration office in Hong Kong it's easier and cheaper to make that kind of visa than to make the working visa.
    Look to do that after 1st August, there is a special offer for the business they are going to register after 1/8/2009, check Hong kong's tax office site you will see


  3. #3

    Join Date
    Jul 2009
    Posts
    2

    Thanks, seems you savea bit on registration for registering after August 1. Just wondering how does it seem easier to get an investment visa over a working visa? From everything I've read it seemed the working visa was slightly easier to get or am I wrong?


  4. #4

    Join Date
    May 2009
    Location
    Tsim Sha Tsui
    Posts
    36

    the working visa has special conditions for the employer and not for the worker! The most important condition, and that what makes me to think more difficult the working as the investment visa, is that the employer should prove that he employs a foreigner that has special skills that a local person don't has. for example I could work in a greek restaurant because I'm greek and the owner couldn't find any hong kong citizen how knows the greek kitchen better than I know! And how much does it cost for a business to employ someone and how much to keep a partnership business?

    Last edited by Stockas; 22-07-2009 at 01:57 AM.

  5. #5

    Join Date
    Jul 2005
    Location
    Hong Kong
    Posts
    304
    Quote Originally Posted by Stockas
    I'm about to do the same think! to register a new business and later to make a investment visa! According to the visa's conditions I show on the immigration office in Hong Kong it's easier and cheaper to make that kind of visa than to make the working visa.
    Look to do that after 1st August, there is a special offer for the business they are going to register after 1/8/2009, check Hong kong's tax office site you will see
    Last time I was trying to apply for an Investor VISA is that you need to convince the HK Immigration about your business plan and you need to show the funds for it.. I recall that if you have HKD$7M+ you can get an Investor VISA (as long as you invest the HKD$7M in hk). They had me change my application from Investor VISA to Dependent. According to them if I do not meet the criteria for the Investor VISA there's a big chance they will not renew it. And there's nothing that I cannot do with a Dependent VISA (which has more advantages than the Investment VISA)
    Last edited by longbeard; 26-07-2009 at 02:59 PM.

  6. #6

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,222

    There are two different visas being mixed up here.

    The Investment Visa is for people wishing to invest in and start a business in Hong Kong. To get one you need to be able to demonstrate a viable business plan (and the means to fund it) which will make a contribution to the local economy and employ local people.

    The Capital Investment Entrant Scheme doesn't require you to run a business - you simply need to invest HK$6.5M (which you can show you have possessed for at least two years) in certain categories of HK asset (including property or shares).


  7. #7

    Join Date
    Jul 2005
    Location
    Hong Kong
    Posts
    304

    Sorry it got messed up.. But the Immigration told me that it is very hard to convince them for the Investment VISA especially if you would just start the business..

    I heard from a friend that HKD$6.5M is almost the same amount to get an Investors Visa in the US.