Hong Kong support services in 2021
Healy Consultants Group PLC can supply a broad range of Hong Kong company formation support services to our Clients having registered a local business, including:
- Hong Kong corporate bank account opening services;
- Hong Kong merchant account opening services;
- Assistance to find physical office space or virtual office services;
- Assistance to recruit local staff;
- Company secretarial services and;
- Visa support services.
Hong Kong company secretary services
- Taking into consideration the Hong Kong New Companies Ordinance, each Hong Kong corporate structure must include a company secretary;
- Hong Kong company secretaries can be both i) natural person or ii) body corporate;
- All appointees must be resident in Hong Kong;
- Annual responsibilities of the company secretary include i) preparation and filing of the annual return; ii) securely maintaining company books; iii) liaising with the Hong Kong Government on behalf of the company; iv) legal filing of changes of company structure; and v) keeping track of statutory deadlines;
- Healy Consultants Group PLC’ professional fees to act as our Client’s company secretary in Hong Kong amount to US$1,100.
Hong Kong employment visas
Healy Consultants Group PLC’s Project Management Team has successfully assisted our Clients with i) business visa document collection procedures and ii) quality visa applications to Hong Kong Immigration Department and iii) ongoing assistance in relocation and document translation. Please find below more information on the relocation options in Hong Kong.
Hong Kong relocation considerations
- Clients wishing to open a company in Hong Kong may find that costs of living in the city can be higher than in some western countries, as Hong Kong has been ranked as the fourth most expensive city in the world in 2019, according to The Economist;
- Hong Kong visa applications require extensive supporting documentation, which can make the process very cumbersome. Hence, prior to moving to the city, Clients are advised to conduct extensive research or engage the assistance of a corporate services provider, such as Healy Consultants;
- If our Clients request, Healy Consultants Group PLC will be pleased to assist with applying for employment and residence visas at the Immigration Department. Our fees to obtain a work permit amount to US$7,950.
The Hong Kong visa schemes
- The ‘Entry for Investment’ visa is an employment pass best suited for foreigners who wish to work in Hong Kong;
- A successful ‘Entry for investment’ application requires the following:
- Application submitted by the sponsoring company;
- Proof of academic qualifications and relevant working experience;
- Investment plan including details of proposed business activities and monetary amounts for two years;
- Copy of Hong Kong company formation and other particulars (e.g. IRD registration certificate);
- Profit-and-loss statement of the relevant period;
- Copy of applicant’s passport and payment of fees.
- Certain nationalities are not eligible for an investment visa. Citizens from Afghanistan, Albania, Cambodia, Cuba, Laos, North Korea, Nepal and Vietnam are unable to be self-employed in the city.
- Also, citizens of mainland China cannot be self-employed unless they are permanent residents of another country or have been living abroad for at least one year;
- The approval process takes up to four weeks and the visa granted will be valid for a 1-year period. This type of Visa may be extended, on the condition that the eligibility criteria for entry is still being met. Extensions will likely follow a strict 2-2-3 years pattern.
“Employment as a Professional” is an employment pass best suited for individuals who wish to work in Hong Kong as an employee. The employment visa is split into three categories dependent on the nationality and education of the applicant:
- Immigration arrangements for non-local graduates “IANG”
- Non-local graduates refer to individuals who completed full-time studies (Diploma, Degree, Qualification) in recognized Hong Kong institutions;
- Fresh graduates, i.e. applying within 6 months of graduation, are not required to have secured employment prior to applying for this employment pass;
- Returning graduates, i.e. those applying more than 6 months after graduation, must secure employment prior to applying for a work permit;
- The approval process takes up to four weeks and the visa granted will be valid for a 1-year period;
- This visa allows individuals to bring up qualified dependents in Hong Kong, including: i) spouse and ii) unmarried dependent children under the age of 18.
- General Employment Policy “GEP”
- This employment pass applies to individuals who are not non-local graduates, but are educated, skilled, or have experience which will add value to the city’s economy;
- The applicant’s education or work experience should be related to the field of employment and there should be a genuine job vacancy with a market value remuneration package;
- The approval process takes up to four weeks and the visa granted is granted usually for one-year period or less depending on the lengths of the sponsorship.
- Admission Scheme for Mainland Talents and Professionals “ASMTP”
- This employment pass is specific to mainland Chinese people, except those that have been living outside of China for over a year and are eligible for the GEP. Applicants must be educated, skilled or have work experience in a field which will add value to the economy. Similarly, there should be a real job vacancy and the remuneration package should be around market value;
- There are no quotas or sector-specific requirements under this scheme.
Considerations when hiring expatriate staff
Employers must give first preference to the local workforce and there are restrictions on nationality. In addition, only foreigners who have i) graduated from an academic institution in Hong Kong or ii) graduated overseas and possess special skills such as software engineers, doctors and R&D specialists that is not readily available in Hong Kong are eligible for Employment Visa in Hong Kong.
Employee visa requirements
Please download the checklist of standard documents required to submit a work permit application, below. Additional documents can be required on a case by case basis by the Immigration authority.
- Quality Migrant Admission Scheme (QMAS)
- This quota-based entrant scheme is ideal for foreigners looking to move to Hong Kong for good;
- The scheme is limited to highly skilled or talented individuals;
- It is not necessary for the successful applicant to have an employment offer before entry to Hong Kong for settlement;
- To be eligible for the scheme, applicants must i) be at least 18 years old ii) demonstrate adequate financial resources for supporting themselves and iii) be of good character and iv) be proficient in written and spoken Chinese or English and v) have basic educational qualification;
- Nationals of Afghanistan, Cuba, Laos, Korea (Democratic People’s Republic of), Nepal and Vietnam are not eligible to apply for this scheme;
- Applicants under the QMAS can also apply for a dependent visa for their spouse and minor children.
Additional information can be acquired from the Immigration Department of Hong Kong