Hong Kong’s Top Talent Pass Scheme (TTPS) has attracted professionals, executives and high-income individuals who want to explore career and business opportunities in Hong Kong.
But what if you are an entrepreneur?
Can you obtain a Top Talent Pass and establish your own company instead of taking up conventional employment?
The short answer is that the TTPS is not specifically an entrepreneur visa. However, eligible TTPS holders can explore business opportunities in Hong Kong, and establishing or joining a genuine Hong Kong business can be relevant when it is time to apply for an extension of stay.
Here is what entrepreneurs should understand.
The Top Talent Pass Scheme is designed to attract high-income individuals and graduates from eligible universities to Hong Kong.
One of its major advantages is that applicants do not need to secure a Hong Kong job offer before applying.
There are currently three application categories:
Category A: Individuals whose annual income reached HK$2.5 million or above, or the equivalent in foreign currency, in the year immediately preceding the application.
Category B: Bachelor’s degree graduates of eligible universities who have accumulated at least three years of work experience during the five years immediately preceding their application.
Category C: Bachelor’s degree graduates of eligible universities within the past five years who have less than three years of work experience. Category C is subject to an annual quota and additional eligibility conditions.
Successful Category A applicants are normally granted an initial stay of 36 months, while Categories B and C normally receive 24 months.
Yes — provided that the individual independently satisfies the eligibility requirements of Category A, B or C.
Being an entrepreneur by itself does not qualify someone for TTPS.
This distinction is important.
For example, a business owner may potentially qualify under Category A if their qualifying annual income meets the HK$2.5 million threshold.
The Immigration Department states that qualifying annual income can include taxable employment or business income, including salary, allowances, stock options and profits from self-owned companies.
However, income generated from personal investments is not counted for this purpose.
Applicants relying on business income may therefore need appropriate tax and financial documentation to demonstrate that the income satisfies TTPS requirements.
TTPS entrants are normally admitted on a time limitation only, without other conditions of stay.
This provides considerable flexibility for individuals who want to explore opportunities after arriving in Hong Kong.
For entrepreneurs, that may include establishing or joining a business in Hong Kong.
However, incorporating a Hong Kong company and satisfying immigration requirements are two different matters.
Company incorporation establishes the legal entity. Your immigration status determines your right to remain in Hong Kong.
Entrepreneurs should therefore plan both areas together rather than assuming that company registration alone guarantees a future extension of stay.
This is particularly important for entrepreneurs.
When applying for an extension under TTPS, an applicant generally needs to demonstrate either that they have taken up employment in Hong Kong with a stable income or that they have established or joined in a business in Hong Kong.
For an entrepreneur, merely registering a company without substantive business activities may therefore be insufficient to demonstrate genuine business operations.
Hong Kong Talent Engage states that entrepreneurs seeking renewal should demonstrate that their business is operating healthily and sustainably in Hong Kong and contributing to Hong Kong’s economy.
Factors considered can include the business situation and economic benefits to Hong Kong.
This means entrepreneurs should retain proper records of their Hong Kong operations.
If you intend to use your TTPS period to establish a Hong Kong business, think beyond incorporation.
Depending on the business, practical preparations may include:
Maintaining proper documentation from the beginning can become particularly important when demonstrating genuine business activities later.
Entrepreneurs should also understand that TTPS is not Hong Kong’s only immigration route for business owners.
Hong Kong has an Investment as Entrepreneurs route under the General Employment Policy for eligible overseas, Taiwan and Macao applicants who wish to establish or join a business in Hong Kong.
Under that route, the Immigration Department assesses whether the applicant can make a substantial contribution to Hong Kong’s economy.
Factors can include the applicant’s business plan, investment amount, financial resources, expected turnover, creation of local jobs and introduction of new technology or skills.
The appropriate route therefore depends on the applicant’s nationality or place of residence, qualifications, income, business plans and other circumstances.
For entrepreneurs considering Hong Kong through the Top Talent Pass Scheme, the important question is not simply:
“Can I register a Hong Kong company?”
The better question is:
“How can I establish a genuine Hong Kong business that supports my long-term commercial and immigration plans?”
TANNET assists international entrepreneurs and companies with Hong Kong company incorporation, company secretarial services, registered address, accounting and tax compliance, business support and related corporate services.
If you are considering the Top Talent Pass Scheme together with establishing a Hong Kong business, planning the corporate structure and operational requirements early can help create a stronger foundation for your Hong Kong expansion.
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