General employment visa in HK – Can I Self-Sponsor via my 100%-owned LTD?

[Roamer]

Assuming I want to move both my UK LTD and my UK self to Hong‌ Kong. I'd reach out to some incorporation service, get the business set-up, the bank account,‍ and start trading.

I am the sole shareholder, director, and employee for the LTD. Ran⁠ it for five years in the UK.

Then, I need to move myself as tax⁤ resident in Hong Kong.

The entrepreneur and investor visa is probably impossible for me. The⁣ business only has ~GBP£200,000 profits annually (pre corporation tax). And I have the same in⁢ cash as individual. I quit school at 18, so probably not a "talent".

Can I︀ have my own LTD company in HK sponsor me to become the Director with a︁ GEP Visa for Professional?

 

[bibing]

No. I wish it was like that but that was probably possible 40 years ago‌ in the 80s.

I would try the Entrepreneur Visa route in your case

 

[Roamer]

I feel like the entrepreneur visa is for hyper-growth startups, not one-man bands. Maybe I‍ am in the wrong?

 

[bibing]

I forgot that you are the only employee. Yes, that is not going to work‌ if you don't hire locals.
AFAIK, the HK government doesn't say what is the requested‍ capital to get an Investor Visa, but for sure they want you hire locals and⁠ set up office there.

If you want, just hit up this guy Hong Kong Visas⁤ Made Easy - The Hong Kong Visa Geeza

He is very knowledgeable about all matters⁣ about HK visas.
I followed him for a while when I was considering applying for⁢ such a visa.

 

[Roamer]

It does seems like the visa for investor requires the creating some jobs or at‌ least the facilitating the life or local businesses are part of the points the immigration‍ officer would look at. It also seems like with enough money (i.e., psnl and business⁠ legitimacy...), things should be fine especially with a good passport and the company's financial statements⁤ for the last years.

 

[bibing]

That would be an option if you wish to move and live in HK. 200k‌ GBP profit (although before tax) is not a little amount to start a business.

 

[Roamer]

I mentioned pretax as in HK that would be 8.15% CT,⁠ in the UK it is 19% which makes a difference, hehe.

I do feel like⁤ it is small for a jurisdiction like HK. Maybe I need to believe in this⁣ more than I do, especially as the business is already proven (i.e. running for 5⁢ years, I can show how it started with 0 and grew to what it is,︀ etc).

 

[LoveMyLife]

The difference which you save in a tax, will cost you a living..⁣ Hong Kong is one of the most expensive cities in a world.

Why do you⁢ need to move exactly to Hong Kong? Whatabout any other countries?

 

[Roamer]

Not really, though. Corporation tax would be half of what it currently is for me in⁠ the UK, and then dividends would be tax free which makes a huge difference (tens⁤ of thousands each year). I spent time in HK, it is indeed not cheap at all but it's not cancelling the tax gains, not even close.

I love the city,⁣ I have relatives there, and it has all the amenities and comfort I expect from⁢ a city I'd live in. Not the only one, but along with Singapore my main︀ one – HK ahead in my heart!