Hong Kong Funding Visas – One-Man Companies Can Obtain Approval

We’ve got not too long ago 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 permitted’ 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 utility for Hong Kong, but it surely does converse to the fact that such companies CAN in actual fact obtain an approval from the HKID – if solely you may have:

  • A compelling rationale for beginning out as a single operator.
  • Available funds to speculate at a degree that’s considerably increased than the naked minimal 6 months money move.
  • A dynamic in your marketing strategy that’s compelling or in any other case presents engaging 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 totally lined up!

With the information 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 beneath our counsel and with us managing the purposes.

The primary concerned an inside design providers skilled who had a couple 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 an identical 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 price of funds prepared to speculate, the help of sure HK contacts who indicated they would supply 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 positive as night time follows day, the HKID purchased into the argument and permitted the appliance with no extra fuss than could 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 skilled in a occupation that doesn’t require formal registration within the HKSAR and who was in search of to arrange a brand new observe, having grown uninterested in working in a present job in Hong Kong which was not in any manner linked together 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 spite of everything, and she or he solely had a finite period of time that she might promote. Actually, not less than one native job was to be created four months into the marketing strategy and the money out there for funding was actually simply sufficient for arrange and 6 months’ money move. Nevertheless, her space of experience was so compelling and in such brief provide within the HKSAR, our recommendation was that the ‘substantial contribution’ factor of the funding visa approvability check ought to be argued within the context of the assistance afforded to stressed Hong Kong bankers and attorneys and that her observe 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 permitted in double-quick time.

Source by Stephen D Barnes

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