In Hong Kong, all businesses have been through the Visa application under the Investment and Entrepreneur scheme. Stephen Barnes, our amazing partner and Hong Kong Visa specialist will confirm that it’s better to be ready and patient. Whether you’re wishing to establish or join a business, the Immigration Department requires a multitude of documents along with the Visa application form: business plan, business turnover, financial resources, investment sum, number of jobs created locally and introduction of new technology or skills. Your application may have more chances of success if you prove a good professional and education background and an expertise in the field related to your future business, with supporting documents, that goes without saying. Nevertheless, your application may go faster and smoother if your business is supported by a government-backed programme with a demanding vetting and selection process.
Here are some organisations you can resort to:
- InvestHK (StartmeupHK Venture Programme);
- Hong Kong Science and Technology Parks Corporation (Incu-App, Incu-Bio and Incu-Tech programmes administered);
- Innovation and Technology Commission (Small Entrepreneur Research Assistance Programme and Enterprise Support Scheme);
- Hong Kong Design Centre (Design Incubation Programme);
- Cyberport Incubation Programme;
Let’s focus on the last one, the Cyberport Incubation Programme. Cyberport is a creative digital community aiming at giving a support to local ICT start-ups and entrepreneurs. They provide them with the tools, training and networks they need to expand and growth their business. The Incubation Programme includes:
- Financial assistance (up to HK$530,000 for On-site clients and HK$330,000 for Off-site clients);
- 24-month rent free office space;
- Centre facilities;
- Technology support;
- Enterprise Management;
- Business Development;
- Marketing and Promotion;
- .hk domain name.
Applicants must fulfil 3 requirements:
- Having a viable business plan to be ready for marketing in 12 or 18 months;
- Having sufficient funds, and if not, plans to raise funds to run their business at least for one year upon admission to the Incubation Programme.
- Having incorporated its business before admission. This is not obligatory since the Programme aims at helping start-up businesses but the company must be registered and incorporated in Hong Kong upon admission.
For further information, you may check the following websites:
http://www.immd.gov.hk/eng/index.html
http://www.hongkongvisacentre.com