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We’ve just lately had a few attention-grabbing Hong Kong funding visa ‘wins’ which fly within the face of the generally parlayed mantra that ‘one man companies by no means get accepted’ by the HK Immigration Division (the “HKID”).
What follows cannot be mentioned to use in each single occasion of a one-man solely funding visa software for Hong Kong, but it surely does communicate to the fact that such companies CAN in truth obtain an approval from the HKID – if solely you may have:
- A compelling rationale for beginning out as a single operator.
- Available funds to take a position at a stage that’s considerably increased than the naked minimal 6 months money stream.
- A dynamic in your marketing strategy that’s compelling or in any other case affords enticing or scarce ‘human capital’ to the HKSAR.
- A manifestly apparent intention to create native jobs ultimately, if not instantly.
- Your geese in any other case absolutely lined up!
With the info barely adjusted to guard the confidentiality of our shoppers, listed below are the important circumstances of two, separate ‘one man companies’ which went on to safe the approval of the HKID underneath our counsel and with us managing the purposes.
The primary concerned an inside design providers skilled who had a number of years prior residence in Hong Kong as an worker however was altering careers fully in becoming a member of in his new enterprise. His enterprise was ‘him’, for all intents and functions however he did have some ‘household IP’ which he was bringing to the enterprise, which his father had utilized in the same household firm within the UK for over 30 years. While his father had retired some years beforehand, he was appointed to the board of our shopper’s one man restricted legal responsibility firm and was manifestly going to assist out his son out with counsel and recommendation. Throw in 12 months value of funds prepared to take a position, the help of sure HK contacts who indicated they would offer enterprise to this, initially, one man operation and a plan which clearly demonstrated that if the expansion trajectory was achieved, new jobs can be created as certain as night time follows day, the HKID purchased into the argument and accepted the appliance with no extra fuss than may be anticipated the place there are a lot bigger scale funding plans for Hong Kong.
The second occasion took in a feminine psychological well being knowledgeable in a occupation that doesn’t require formal registration within the HKSAR and who was searching for to arrange a brand new apply, having grown bored with working in a present job in Hong Kong which was not in any method linked along with her actual {qualifications}. Because it occurred, the industrial rationale for beginning the enterprise was at all times going to be nebulous – she was the product, in any case, and he or she solely had a finite period of time that she might promote. Actually, at the least one native job was to be created 4 months into the marketing strategy and the money out there for funding was actually simply sufficient for arrange and 6 months’ money stream. Nonetheless, her space of experience was so compelling and in such quick provide within the HKSAR, our recommendation was that the ‘substantial contribution’ ingredient of the funding visa approvability take a look at ought to be argued within the context of the assistance afforded to stressed Hong Kong bankers and attorneys and that her apply was by no means going to be a significant cash spinner throwing off new jobs left proper and centre. It labored and her visa was accepted in double-quick time.
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Source by Stephen D Barnes
