Pr Visa For Hong Kong

Covering a broad range of subjects relevant to daily life in Hong Kong, Pr Visa For Hong Kong is the first and only authoritative guide on Hong Kong Immigration and visa application procedures. It was created in response to public demand by a seasoned British expatriate with years of experience working in the Immigration Department of a local bank.

Hong Kong is proved to be an Asian financial center, tourist destination, and one of the world’s busiest ports. It has a zero-tolerance policy on drugs, Prostitution. The Hong Kong job market is extremely competitive with multiple 2nd degree of choices for you to consider when finding a perfect one for yourself. The Pr visa for Hong Kong offers international jobs particularly in service industry for professionals who wants to work without a green card or resident visa.

A China PR visa is an entry permit issued by the Chinese government to foreign citizens who intend to reside in China with a long-term status. After they obtain the PR visa, foreign citizens can enjoy a series of preferential treatments in areas including education, taxation and residence registration.

Pr Visa For Hong Kong

Looking to immigrate to Hong Kong? You’re in luck. This article will explain the different visa options available, including a detailed review of Hong Kong’s quality of living, as well as its job prospects, economy and other features.

Residence by investment options

The Capital Investment Entrant Scheme was officially suspended on 15 January 2015. However, there are other alternatives for individuals who wish to apply for Hong Kong residence. These are:

1. The Quality Migrant Admission Scheme, which aims to attract highly skilled or talented persons who will settle in Hong Kong in order to enhance its economy, except nationals of Afghanistan, Cuba, Laos, Korea (Democratic People’s Republic of), Nepal, and Vietnam
2. The General Employment Policy, which sets out the entry requirements for persons who wish to enter or stay in the HKSAR for professional employment
3. Investment as Entrepreneurs, which is for persons who wish to enter or stay in the HKSAR in exchange for establishing or joining in business as entrepreneurs under the General Employment Policy

The Quality Migrant Admission Scheme

• The Quality Migrant Admission Scheme (QMAS) seeks to attract highly skilled or talented individuals who will settle in Hong Kong. Applicants are required to fulfill a set of prerequisites before they can be awarded points in one of the two points-based tests below (qualified individuals from the Talent List are eligible for bonus points under the QMAS):
• The General Points Test — Has a passing mark of 80/225 and comprises five categories, namely age, academic or professional qualifications, work experience, language proficiency, and family background.
• The Achievement-Based Points Test — For applicants who have received an award of exceptional achievement (such as Olympic medals, Nobel Prizes, national or international awards) or applicants who can show that their work has been acknowledged by their peers or has contributed significantly to the development of their field (for example, a lifetime achievement award from their industry). Applicants who have met one of the criteria under this test will be awarded 225 points; otherwise, no points will be awarded and the application will be rejected.

The General Employment Policy

The General Employment Policy (GEP) sets out the entry requirement for persons who wish to enter or stay in the HKSAR for employment as professionals. Applicants who possess special skills, knowledge, or experience of value not readily available in Hong Kong may apply to work under the GEP if the following criteria are met:

• The applicant has a good education background, normally a first degree in a relevant field of employment
• There is a genuine job vacancy
• The applicant has a confirmed offer of employment and is employed in a job relevant to the academic qualifications or work experience that cannot be taken up by the local workforce
• The remuneration package including income, accommodation, medical, or other fringe benefits is broadly commensurate with the prevailing market level for professionals in Hong Kong

Investment as Entrepreneurs

• The Investment as Entrepreneurs category sets out the entry requirement for persons who wish to enter or stay in the HKSAR as entrepreneurs under the GEP, in other words, to establish or join a business in the HKSAR.
• The applicant should have a good education background, normally a first degree in a relevant field. The applicant will need to establish or join a start-up business and be in a position to make a substantial contribution to Hong Kong’s economy, with consideration factors including, but not limited to: business plan, business turnover, financial resources, number of jobs created locally, and introduction of new technology or skills.
• Overseas Chinese nationals holding People’s Republic of China passports who meet the criteria stipulated above as well as the normal immigration requirements may apply for the HKSAR Investment as Entrepreneurs visas if the applicant has permanent residence overseas or the applicant has been residing overseas for at least one year immediately before the submission of the application. (‘Overseas’ refers to places outside mainland China, the Hong Kong Special Administrative Region, and the Macao Special Administrative Region.)

Procedures and time frame

In order to obtain any of the above visas, the applicant must submit all the relevant application forms and supporting documents. Upon the Immigration Department’s receipt of all the required documents, it normally takes four to eight months to process the visa or entry permit applications.

Approval of applications is entirely discretionary and is subject to changes in government policies. The director of immigration reserves absolute discretion to refuse any application, even if all criteria for eligibility are met. Successful applicants will normally be granted a limited extended stay of 24 months (only without other conditions of stay upon entry). Applicants may apply to extend their stay in the HKSAR before their limit of stay expires. Such applications will only be considered if the applicants continue to meet the eligibility criteria under entry for investment, the QMAS, or the General Employment Policy.

Tax in Hong Kong

Taxation in Hong Kong is based on a territorial source principle. Hong Kong companies only pay tax on profits sourced in Hong Kong, and the rate of taxation currently is 17.5% on assessable profits. There are no withholding taxes on dividends or interest and no taxes on capital gains. However, withholding tax on royalties does apply, currently at 5.25%, and is only imposed on royalties paid to non-resident recipients not related to the payers. If they are related parties, then a tax rate of 16.5% is applicable.

Hong Kong companies are ideal vehicles for international trading or consulting activities that do not have links in Hong Kong. These businesses can therefore be conducted free of tax. The same is true for companies that hold real estate that is located outside Hong Kong. There is no capital gains tax, and dividends received or distributed by a Hong Kong company are also tax-free. Even the standard rate of profits tax applicable to Hong-Kong-sourced income is very competitive, at 16.5%.