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    Citizenship and Residence Solutions > Residence > Hong Kong

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    Hong Kong Residence By Investment Program

    • About
    • Residence
    • The CEPA Hong Kong Agreement

    Country Information:

    Hong Kong is a major Asian port and a worldwide financial centre with a service economy. Hong Kong’s economic strength lies in a stable banking system, no public debt, a robust legal system, huge foreign exchange reserves, stringent anti-corruption measures, and close relations with mainland China. Hong Kong has the world’s most free economy, according to the Heritage Foundation’s 2019 Index of Economic Freedom. Hong Kong, with a population of about 7.49 million people, is also a major trading centre.

     

    Hong Kong’s government continuously supports and encourages private-sector initiatives. Highly trained entrepreneurs and rich investors can apply for business, research, and investment residency in Hong Kong.

    The legal and business domains: an overview

    Hong Kong’s legal system is founded on English common law and an expanding body of statutory law enacted by the local legislature. Hong Kong has a large number of legal firms, including some from Australia, Canada, the United Kingdom, and the United States. English is the language of the law and, to a considerable extent, of business. The Cantonese dialect is the official language, but Mandarin is becoming more widely spoken in Hong Kong.

     

    Hong Kong and mainland China have signed a bilateral free trade agreement known as the Closer Economic Partnership Agreement (CEPA). With well-established commercial linkages with most other Asian countries, Hong Kong serves as a regional business center in Asia. In terms of Chinese commerce, Hong Kong occupies a unique position. With China’s admission to the World Trade Organization (WTO), Hong Kong is in a strong position to expand its role as China’s primary commercial and financial hub.

    Hong Kong’s economic condition

    With a substantial representation of banks, insurance companies, merchant banks, fund managers, venture capital businesses, and other financial intermediaries, Hong Kong is a major international financial and commercial centre. Hong Kong has the freest economy in the world. With services accounting for 93.5 per cent of GDP in 2020, it is one of the most service-oriented economies in the world.

    Hong Kong is also famous as a regional headquarters for many global corporations, and it has been successful in establishing significant local businesses in industries like hotel management, property development, and telecommunications.

    Residence

    Hong Kong is a magnificent destination for foreigners and their families, offering delicious food, a dynamic culture, and a wealth of opportunities. Hong Kong continues to attract ex-pats from all over the world as a major corporate hub and financial centre in the Asia Pacific. It is now one of the most active cities in the world, with a sizable expat community. Hong Kong’s economy is open, with a free market and low taxes. It is a significant worldwide financial and commercial centre.

    Residence by Investment in Hong Kong

    While Hong Kong does not have a citizenship by investment scheme, it does provide talent, professionals, and entrepreneurs with a variety of residency options. In 2015, Hong Kong’s core resident program was halted. Hong Kong today has various career and investment opportunities. After 7 years of living in Hong Kong, a Permanent Residency Visa can be issued, and citizenship can be requested after 10 years.

    Advantages of moving to Hong Kong

    • The world's most free economy.
    • The currency is convertible and stable and is pegged to the US dollar.
    • Capital flows into and out of Hong Kong are unrestricted.
    • In the Asia-Pacific area, Hong Kong is strategically positioned.
    • It is well-known for being a tax-friendly jurisdiction.
    • The world's busiest container port and a world-class international airport.
    • A Pool of Multicultural Talent
    • The business environment is open.

    Residences by investment options

    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 they:

    • The Quality Migrant Admission Scheme aims to bring highly qualified or talented people to Hong Kong in order to help the economy grow. But no Chinese residents of Mainland China, Afghanistan, Cuba, Laos, North Korea (i.e., Democratic People's Republic of), Nepal, and Vietnam are not eligible for the Investment/Entrepreneur Visa.
    • Investment as Entrepreneurs, which is for people who want to come to or stay in the HKSAR in return for starting or joining a business as an entrepreneur under the GEP.
    • To qualify for Hong Kong investment residency, you must invest at least HKD 10 million (USD 1.3 million) in one or more of the following: shares, debt securities, deposits, subordinated debt, or collective investment schemes.

    Quality Migrant Admissions Scheme (QMAS VISA)

    • The scheme is a quota-based entry scheme. It aims to bring in highly qualified or talented people to Hong Kong in order to boost the city's economic competitiveness. Before arriving in Hong Kong for settlement, successful applicants are not obliged to have obtained a job offer from a local employer.
    • The Hong Kong Quality Migrant Admission Scheme is a point-based system in which you must score 80/195 on the General Test or 195 on the Achievement Based Points Test to be admitted. The points are determined by your age, education, employment experience, language skills, and dependents.
    • For applicants who have received an award for outstanding achievement (such as Olympic medals, Nobel Prizes, or national or international accolades) or who can demonstrate that their work has been recognized by their peers or has significantly contributed to the advancement of their profession (for example, a lifetime achievement award from their industry). Applicants that meet one of the conditions in this test will receive 225 points; otherwise, the application will be denied.

    General Employment Policy (GEP)

    Working in Hong Kong is a fantastic experience. The General Employment Policy (GEP) establishes the entrance requirements for professionals seeking to enter or remain in the HKSAR. If you meet the following criteria, you can apply for a work visa in Hong Kong under the GEP:

    • You have an excellent educational background, a relevant degree, and appropriate work experience.
    • You have no criminal history.
    • You've been offered a job.
    • The salary package, which includes income, all benefits, medical coverage, and housing, is competitive in Hong Kong for professionals.
    • The job opening is legitimate, and the company provides proof that the position could not be filled by a local candidate due to a lack of essential skills.

    Entrepreneurs' Investment

    • Overseas Chinese nationals with People's Republic of China passports who meet the above criteria, as well as the normal immigration requirements, are eligible to apply for HKSAR Investment as Entrepreneur visas if they have permanent residence overseas or have been residing overseas for at least one year immediately prior to submitting the application.
    • The Investment as Entrepreneurs category outlines the requirements for those wishing to enter or remain in the HKSAR as entrepreneurs under the GEP, that is, to start or join a firm.
    • Applicants who want to start a business or join one can also apply. If the applicant is the founder or partner of the start-up company or a significant researcher on the relevant project, the Immigration Department may examine the application favourably.

    Procedures and time frame

    In Hong Kong, a foreign national can get a residency permit regardless of nationality, but only under specified conditions. The People’s Republic of China’s Hong Kong Special Administrative Region has an Immigration Ordinance and also employs parts of the Basic Law to control how foreigners can get permanent residency or other types of visas in Hong Kong.

     

    Applications are approved on a discretionary basis and are subject to changes in government regulations. Even if all eligibility conditions are met, the director of immigration reserves the right to refuse any application. Successful candidates are usually granted a 24-month limited extension of stay. Applicants can request to extend their stay in the HKSAR before their stay expires. Such applications will only be accepted if the applicants continue to meet the entry for investment, QMAS, or General Employment Policy eligibility conditions.

    The Hong Kong tax system.

    Hong Kong is one of the world’s most important financial centres, consistently regarded as the world’s most competitive and open economy. Hong Kong’s tax system is based on the territorial source principle. Companies in Hong Kong can only pay tax on profits earned in Hong Kong, and the current rate of taxation on assessable profits is 17.5 per cent.

     

    There is no capital gains tax in Hong Kong, and a Hong Kong company’s dividends are also tax-free. Even the standard rate of profit tax on Hong Kong-sourced revenue, at 16.5 per cent, is quite competitive. Hong Kong corporations are appropriate vehicles for worldwide trading or consultancy activities with no ties to Hong Kong.

    The CEPA Hong Kong Agreement

    Closer Economic Partnership Arrangement (CEPA)

    The Closer Economic Partnership Deal (CEPA) between the Chinese mainland and Hong Kong is the first free trade agreement between the two countries. CEPA’s main text was signed on June 29, 2003. CEPA expands Hong Kong’s market for goods and services expands, boosting the Mainland’s and Hong Kong’s already tight economic cooperation and integration.

     

    CEPA takes a modular approach, and the two parties have been collaborating closely to introduce new liberalization measures on a regular basis. The CEPA Legal Text specifies the agreed-upon liberalization measures for various stages of CEPA.

     

    The CEPA is divided into three sections: goods trade; services trade, and trade and investment facilitation. To take advantage of CEPA and acquire a “first-mover advantage” in the mainland markets, firms that do not yet have a presence in Hong Kong can explore collaborating with or acquiring qualifying Hong Kong-based companies.

    Goods trade

    There are 273 tariff-free categories of Hong Kong-made items that can be exported to the mainland. On applications by local manufacturers for other product codes maintained in China’s tariff system and meeting the CEPA rules of origin, the mainland agreed to apply a zero-import tax to further categories of made in Hong Kong products beginning January 1, 2006.

     

    On November 21, 2019, the Hong Kong Special Administrative Region (HKSAR) and the Mainland signed an agreement under the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) to amend the CEPA Agreement on Trade in Services (the Services Agreement) to raise the level of the Services Agreement, deepen the liberalization of trade in services between the Mainland and the HKSAR, and strengthen bilateral economic and trade exchanges. The change to the Services Agreement took effect on June 1, 2020.

     

    The Agreement on Trade in Services encompassed and unified promises made under CEPA and all of its supplements, as well as the Agreement between the Mainland and Hong Kong on Achieving Basic Liberalization of Trade in Services in Guangdong (the Guangdong Agreement).

     

    The ROO established the criteria and norms by which a product can claim to be from a specific nation. The following CEPA origin rules apply to the 273 mainland product codes included in the initial phase:

    • 68 per cent (187) of the products will follow Hong Kong's existing CEPA origin regulations, which are based on the principal process rule, which considers the location of the key manufacturing process for determining a product's origin.
    • A change in tariff heading (CTH) approach will be employed as the CEPA origin regulations for 17 per cent (46) of the products, including various chemical and metal products, as well as some electronic products and components.
    • For 15% (40) of the products, such as some electronic and optical components, watches and clocks, and watch movements, a 30% value-added criterion will meet the CEPA origin standards. Only raw materials and component parts from Hong Kong, local labor costs, and product development expenditures incurred in Hong Kong could be counted towards the value content calculation under the CEPA ROO.

    Service trade

    Management consultant services, exhibitions and conventions, advertising, accountancy, construction and real estate, medical and dental services, distribution services, logistics services, freight forwarding and agency services, storage and warehousing services, transport services, tourism, audiovisual, legal services, banking, securities, and insurance are all covered by CEPA’s market access provisions. One must fulfil the following criteria:

    • The business must be registered under Hong Kong law.
    • The company must be subject to Hong Kong earnings tax.
    • The corporation must employ at least half of its total workforce in Hong Kong.

    For services, the term “Hong Kong companies” means: To be eligible for the mainland’s benefits under the CEPA, a corporation must have “substantive business operations” in the HKSAR, as determined by the following criteria:

    • The corporation must be incorporated under the regulations of the Hong Kong Special Administrative Region.
    • In the HKSAR, a corporation must pay profits tax (or be exempted by law from paying such tax).
    • The duration of the company's substantive business operations in the Hong Kong Special Administrative Region
    • The scale and type of the company's business activity in the HKSAR
    • A percentage of the company's workforce is based in Hong Kong.

    Facilitation of trade and investment

    Both sides agree to promote cooperation in the following eight areas: customs clearance facilitation, commodity quarantine and inspection, quality assurance and food safety, SME cooperation, Chinese medicine and medical products cooperation, electronic commerce, trade and investment promotion, and transparency in-laws and regulations.

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