Investor visa

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  1. #1

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    Investor visa

    Hi

    Does anyone know if by investing (buying) a property in HK of HK$6.5m, what kind of visa you can get? 1 year or 7 years? Is it still required to live in HK for 7 years to get HK passport? I was told in Marcus by investing, you don't have to live there but wait for 7 years only.

    Can you sell the property and reinvest during the time in HK?

    Thanks,
    Amy


  2. #2

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    If you invest HK$6.5M here (in property or various other investment classes) which has been your money for two years preceding the date of application (as certified by an accountant) then you can get a Capital Investment Entrant Scheme Visa. This allows you to reside in HK, but the $6.5M has to stay invested in permissible HK assets for the duration. If (but only if) you do then actually reside in Hong Kong (it doesn't have to be in the property you bought) for 7 years continuously you can then apply for HK Permanent Residency (Right of Abode).

    Once you have HK Permanent Residency you can then apply for a HK Passport, which requires you to renounce your existing citizenship and take Chinese citizenship. Dual nationality is not permitted when naturalising as Chinese.

    Last edited by PDLM; 19-09-2009 at 06:06 PM.

  3. #3

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    Hi PDLM,
    Thanks for your quick reply. Can you get the permanent residency just by investment over the 7 years, rather than constantly being in HK over that period?
    Thanks, Amy.


  4. #4

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    No. You must be resident in Hong Kong continuously for the 7 year period. Obviously you can go on holiday / business trips etc, but HK must be your home continuously for 7 years, and when you apply for Permanent Residency you need to declare that you have taken HK as your permanent home, and the onus is on you to prove that you have really lived here for seven years - property records, tax receipts, utility bills, etc.


  5. #5

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    Thanks PDLM. How many days are allowed to be out of HK for holiday/business during the 7 years?

    Amy


  6. #6

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    There's no hard limit. But at the end of the 7 years you have to be able to prove to the satisfaction of the Immigration Department that Hong Kong has been your home for the previous 7 years. If, for example, you have a home somewhere else which you continue to spend a significant amount of time in then ImmD is unlikely to be convinced.


  7. #7

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    I was wondering if it's OK to stay in HK during the weeks and stay in Mainland China for the weekends with family?


  8. #8

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    I'm not sure to be honest, but I doubt it.

    Also there are some restrictions on current nationality: The Government of the Hong Kong Special Administrative Region - Immigration Department

    What is your current nationality?


  9. #9

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    I am asking this for a friend who is a Chinese and wants to apply for investor visa. I am a British Citizen myself and would like to apply for high skill visa and wonder after 7 years residency in HK if I can apply for HK passport and keep British status?

    Thanks!


  10. #10

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    A Chinese who does not have the right of permanent residency in another country cannot apply for the CIES (as stated in one of the links I provided earlier - this discussion might be easier if you actually read them).

    Moreover, I don't think that anyone who holds a Chinese passport can take a HK Passport any way (although they can get Permanent Residency in HK), although I'm not sure about that.

    As I have said before, in order to naturalise as a HK Chinese (i.e. get a HK Passport) you must renounce (i.e. give up) all previous citizenships. In other words, NO - you cannot get a HK Passport and keep your British one.

    I can't see why you would want to do that anyway frankly.

    Last edited by PDLM; 19-09-2009 at 08:45 PM.

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