Being one of the largest cities in Asia, Hong Kong exposes a bigger opportunity for business entrepreneurs. This administrative region of China is a good deal for entrepreneurs due to its prominent political and economic autonomy.
Apart from that, the gross domestic product (GDP) of Hong Kong was 368 billion U.S. dollars in 2022. This impressive figure is manipulating enough for any foreign entrepreneur to start a business in Hong Kong or bring it here.
Due to many favorable factors, entrepreneurs are trying to reach this place, but we all know that going to a new country requires the acceptance of a visa. While preparing your visa, you will need to state your reason.
A visa for entrepreneurs to visit Hong Kong is simple to get, but if you do not know the proper instances, it might seem cumbersome.
Well, for any country, you will need to go through some instances for approval during the visa processing. Here, we will provide you with proper instances of getting an entrepreneurial visa in Hong Kong.
Getting approved for a Visa is easy when you have a clean character, at least from a legal point of view. For instance, if you have a criminal record, you are not eligible for getting an entrepreneur’s visa.
Well, nowhere in the world will you get this opportunity. So, the first criterion of eligibility is to get rid of security objections.
If you are clean, then you are already halfway to getting the visa. Well, a proper educational background might help you get the visa with ease. As an entrepreneur, you will need to show at least an undergraduate degree or relevant professional degree.
Well, when you are entering the city as an entrepreneur, you will need to make sure that you have a minimum contribution to their economy. Entrepreneurs are known to make a profit with the help of labor and business facilities.
So, in Hong Kong, you will need to show a proper business plan to ensure the fact that your business will contribute to the economy in the near future. This substantial contribution to their economy is a gateway to entering the place with an entrepreneur’s visa.
Apart from that, incorporating your company in Hong Kong before applying for the entrepreneur visa for Hong Kong is necessary.
As an applicant, you will need to consider some crucial documents to submit. These documents are necessary for applying for your entrepreneurial visa.
- Application form which you have filled properly.
- Copy of Passport with stamps.
- Hong Kong identity card copy.
- Proof of working experience and academic qualification.
- Proof of overseas residence, if any.
- A proper business plan of at least two years.
- Business registration form of the Inland Revenue Department.
A Business Plan Is A Must
Entrepreneurs who are immigrating their business need to always consider an immigrant-friendly city or state. Hong Kong exposes such a culture of business, including its GDP, to ensure prominent growth to any business model.
However, when you are determined to consider Hong Kong as your next business destination, it is better to deal with a proper business plan. We have already discussed that a two-year business plan is a must to confirm your entrepreneurial visa for Hong Kong.
A proper business plan with considerable business approaches which suit Hong Kong’s economy and political circumstances can be your gateway to entering the city as an entrepreneur.
- Business idea.
- Capital investment.
- Proposed Business Vehicle.
- Suitable business premises.
Well, a suitable and trustworthy business idea, market analysis, product, or service proposal can create a big difference in the economy of a particular place. Your management team will need to ensure a proper operational plan with lots of financial documentaries and intentional letters of credit.
An Investment visa in Hong-Kong is hard to get if you do not have a proper business plan. You are required to deal with the choice of business as well. The Hong Kong authority will also focus on the business premises that you have chosen for your particular business process.
For instance, if you have an import/export business, you will need to select a place that is considerably more spacious than other places in terms of storing things.
How Long Do You Have To Wait To Get A Visa For Entrepreneurs?
The Hong Kong Immigration Department might take 3-5 months of visa processing time. After your visa is confirmed, you will need to go to their immigration office and collect your visa form in person.
After you arrive in Hong Kong, you will need to show this visa on a block visa page combined with the passport and show it to the officer.