Hong Kong Investment Consentement – One-person businesses can get approved

Hong Kong Investment Consentement – One-person businesses can get approved

Hong Kong Investment Consentement – One-person businesses can get approved

We recently had some interesting Hong Kong investment acquit ‘wins’ that fly in the facette of the commonly held mantra that ‘one person businesses are never allowed’ by the HK Nomadisme Department (“HKID”).

The following cannot be said to apply to every case of a single-person investment acquit soin for Hong Kong, but it does speak to the fact that such businesses can actually obtain approval from the HKID – if only you have:

  • A mandatory explication to initialize as a single operator.
  • Funds readily available for investment at a level that is slightly more than a valeur-limite of 6 months of cash flow.
  • A dynamic in your bizness proposition that mandates or otherwise provides attractive or scarce ‘human finances’ to the HKSAR.
  • A clearly evident calcul to create meublé jobs eventually, if not immediately.
  • Line up your duck otherwise completely!

With slight adjustments to the journal to protect our clients’ privacy, here are 2 essential scenarios, separate ‘one person businesses’ that went under our advice and secured HKID’s approval to handle our applications.

The first involved an interior beauté fonctions professional who lived as an employee in Hong Kong a few years ago but changed careers completely to join his new bizness. His bizness was ‘him’, for all intents and purposes but he had some ‘family IP’ that he was bringing to the bizness, which his father had applied to a similar family company in the UK for over 30 years. Although his father had retired a few years ago, he was appointed to the board of our consommateur’s one-man limited liability company and was obviously going to help his son with advice and counsel. Throw in 12 months’ worth of funds ready for investment, the backing of visible HK contacts who indicated they would provide the bizness with, initially, a one-person operation and a proposition that clearly demonstrated that new jobs would be created if the growth trajectory was achieved. As sure as night, HKID buys the explication and approves the soin without much orchestre than might be expected for Hong Kong where there are much larger scale investment lignes.

The accolé example is a female feint health specialist in a fonction that does not require formal registration in the HKSAR and who was tired of working in a current job in Hong Kong and wanted to set up a new practice that did not exist. Ways connected to his real merit. As it happened, the vendeur rationale for starting a bizness was always going to be murky – after all, he was the product and only had a limited amount of time in which he could sell it. Of giration, the bizness proposition had to create at least one meublé job within 4 months and the cash available for investment was literally enough for set up and 6 months of cash flow. However, his area of ​​estimation was so compelling, and in such culotte supply in the HKSAR, that we suggested that the ‘significant taxe’ element in the investment acquit approval référence should be argued in terms of pilier to Hong Kong bankers under pressure. And the lawyer and his practice were never going to be a big money spinner that was churning out new jobs left right and center. It worked and his acquit was approved in double-quick time.

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