CentreO Blog

Yesterday, on November 14^th centre o and the one and only Stephen Barnes held their first visa talk in Shenzhen, at the cozy Boathouse restaurant in Shekou.

After the formal presentation, where Stepehen described in detail the process of getting a Hong Kong investment visa on your own, came the Q & A section.

The excited audience fired questions at Stephen:

“How long should I stay in Hong Kong to get a residence permit?”

“Does my nationality matter?”

 “How much money should I have?”

Time flew by quickly and before we had to get  back to Hong Kong we encouraged our guests to follow Stephen’s blog and get free immigration advice on http://www.hongkongvisahandbook.com/

The evening was busy, informative and fun.

Big thanks to Stephen for being a great host! We’ll be coming back soon.

Little note: Despite the busy schedule, Stephen managed to enjoy Boathouse specialty  – a classic beef burger.

 

As of October 14^th 2010 the threshold for investment under CIES is $10 million HKD. Furthermore, real estate has temporarily been suspended as a permissible asset under the scheme.

 So what can you invest in? You can invest in stock, equities or debt securities (from an approved list) or a combination of the qualifying criteria.

You must be able to demonstrate the net value of the portfolio is at least $10 million HKD and have had the funds for two years prior to the application.

“Approval in principle” is granted for six months after your portfolio has been confirmed by HK immigration to be in excess of $10 million HK net to make the appropriate investment.

If you choose to invest in stock, equities or debt securities you will need to appoint a financial intermediary to manage the investment portfolio on their behalf.  Once the investment is confirmed by Hong Kong immigration you (and your qualifying dependents) will be issued a visa for two years which can be extended. This category is one of the leads to residency in Hong Kong after seven years.

NOTE: Unlike other categories that lead to residency you do not have to stay in HK continuously, but must maintain the investment throughout the seven year period.

The difference between investment and employment visas for new entities is that you will need to be a holder of company shares (the number of shares is different for each case).

What you will need to show:

• You must possess the necessary skills, qualifications and experience to benefit the company.
• The company must demonstrate that the new entity is potentially viable and the parent or overseas company or individual is capable of supporting the new venture (Bear in mind that being a major shareholder doesn’t give you an automatic right to live and work in Hong Kong).
•  You must demonstrate that there is a need or niche for the business and that it will potentially benefit other Hong Kong locals.
•  You must show to the immigration officer that there is a significant contribution to Hong Kong.
• An essential part of these applications is to provide Hong Kong immigration with a detailed business plan and cash flow forecast for the first year at least.

 

Here are a few helpful tips.

First, what does this visa cover?

–       intra-company transfer

–       new hire

–       training

–       investment

 What is there to consider?

There are three main points to think about: the sponsoring company, the applicant and the vacancy.

What questions need to be answered?

How long has the sponsoring company been around and how well it is established?

Will you be a shareholder and/or Director of the company?

Is it a genuine vacancy? What attempts has the company made to fill it in locally?

 Think of it as a “show and tell” with a bureaucratic spin, during which you and your potential employer will need to present proof and supporting documents.

Tonight, November 12^th from 6 PM to 8 PM, you have a chance to enjoy a free flow of drinks at the opening of the new and amazing J’s Bar!

Make sure you get there on time to enjoy our unique offer. After 8 PM, the drinks will be sold at Happy Hour price till 11PM. The party is open to anyone as everyone is welcome at J’s!

More about J’s:

J’s at night – A Perfect Cocktail Spot!

We always make sure that our products are at their best quality and our prices reasonable.

We use premium spirits and fresh fruits in all our cocktails, which are always consistent in taste, smell, texture, color and appearance. We value quality over quantity.

Come on in and try our Lychee Mojito or Mixed berry Mojito? We make these drinks with love. =)

J’s at lunch hour – A Perfect Snack Spot!

We’re not just an after work bar. We also serve “real sandwiches” for lunch. By “real” we mean REAL! Proper meat chunks in freshly baked bread.

Our specialty is the Southern Pulled Pork sandwich, which is marinated pork in BBQ sauce, cayenne pepper served in soft sour dough bread with rocket. For those who are not too keen on pork, we also have Grilled Chicken sandwich marinated 24 hours in lime, coriander and salt pepper served with tomatoes, avocados, lettuce and onions glazed with honey. Of course we have tuna. We call it Looney Tuna sandwich. Its a tuna salad with a twist—you’ll feel the texture of green beans and the surprise explosion of the cherry tomatoes.

If you’re not that hungry, we also serve grilled pumpkin salad and Apple avocado salad. Chef soup of the week is also available.