Hong Kong Immigration
March 23rd, 2008Immigrant investors select the Hong Kong program vastly because of the favorable fiscal climate and also because real estate investments are eligible investments to be considered for residency. On the other hand, the obligation to be present is a draw back but since it is not monitered closely by the local authorities most Immigrant Investors get away with numerous “long stays” outside Hong Kong.
In order to be eligible , the Immigrant Investor must:
have net assets of not less than HK$6.5 million (approx US$ 850,000) to which he is absolutely beneficially entitled throughout the two years preceding his application
have invested within six months before submission of his application to the Immigration Department, or will invest within six months after the granting of approval in principle by the Immigration Department, not less than HK$6.5 million in permissible investment asset classes
be able to demonstrate that he is capable of supporting and accommodating himself and his dependants, if any, on his own without relying on any return on the permissible investment assets, employment or public assistance in Hong Kong.
When the investor applies for the Scheme, he is given a visitor’s visa for him and his familly for 3 months renewable once. He needs to prove that he has successfully undertaken the minimum investment in Hong Kong. Once it is done, Hong Kong authorities will grant a two year residence visa renewable upon proof of invesment.
After seven years of continuous stay in Hong Kong , the investor can apply for the right to abode in Hong Kong.