Hong Kong, located on China’s southeastern coast, is strategically located at the heart of East Asia’s rapid development. The Joint Declaration of the Governments of the United Kingdom of Great Britain and Northern Ireland and the Government of the People’s Republic of China on the Question of Hong Kong, 1984, restored Hong Kong to Chinese sovereignty on July 1, 1997. After 1 July 1997, Hong Kong was designated as a special administrative region of the People’s Republic of China (HKSAR), with the economic, social, and legal systems remaining unchanged for a minimum of 50 years. Since the handover, Hong Kong has maintained complete autonomy in its administration. The Heritage Foundation’s 2019 Index of Economic Freedom put Hong Kong first, making it the world’s freest economy.
The Hong Kong Investment Visa is a sort of work permit that permits foreign entrepreneurs to migrate to Hong Kong by either investing in a local business or creating and operating their own. However, in order to be granted an Investment Visa for Hong Kong, the invested local firm or newly registered company must be able to significantly contribute to the Hong Kong economy – and it is expected that new investments in Hong Kong will create new jobs for the local job market.
Businesses that belong to or can complement industries where Hong Kong has clear advantages, such as trading & logistics, tourism, financial services, professional services, transportation, exhibition, innovative technology, manufacturing, and cultural & creative industries, have a better chance of being granted an investment visa. Entrepreneurs can also explore investing in government-backed start-up businesses. Because these programs frequently have stringent scrutiny and selection processes, visa applicants have a better chance of being accepted.
On January 15, 2015, the Capital Investment Entrant Scheme was officially suspended. There are, however, additional options for people who want to apply for Hong Kong residency. These are the following:
- Except for nationals of Afghanistan, Cuba, Laos, Korea (Democratic People’s Republic of), Nepal, and Vietnam, the Quality Migrant Admission Scheme intends to attract highly trained or talented migrants who will reside in Hong Kong in order to boost the economy.
- The General Employment Policy lays forth the standards for anyone who wants to work professionally in the Hong Kong Special Administrative Region (HKSAR).
- Investment as Entrepreneurs, which is for people who want to come to the HKSAR or stay in the HKSAR in exchange for starting or joining a firm as an entrepreneur under the GEP.
- The applicant’s signatures on the Investment Visa Application Form ID(E) 999A
- Signatures of the company’s authorized person on the Investment Visa application form ID(E) 999B;
- A copy of the applicant’s passport; a copy of the applicant’s personal documents; a copy of the applicant’s passport; a copy of the applicant’s personal documents
- Copies of the company’s business formation documents; a detailed business strategy;
- Copies of both the applicant’s and the company’s financial documents.