What You Need To Know About Start-up Visas in Hong

Contributed by hongkongtaxfree.com, 06 February, 2017

The start-up environment that is Hong Kong stands out from the rest in the world because of its unique location and supportive government. However, one thing that remains outstanding is that visa is no longer the stumbling block. The focus on start-ups in Hong Kong is targeted at attracting inventions which the administration believes will take the economy to the next level. Here is what you need to know about start-up visa.

The Hong Kong Administration approved start-up programs

The Hong Kong administration has five areas of operations that it supports start-ups and grants visas to applicants. The programs are comprehensively vetted by the immigrations department and other relevant authorities. The viability of the venture is particularly weighed to ensure that you will have the required impact in the Hong Kong Administration.

The StartmeupHK Venture Programme: This is an international competition program organized by Hong Kong to help identify innovative and high impact ventures for starters who want to expand into Hong Kong. The program is hinged on the objective of making Hong Kong a leading hub for innovations in the entire Asia.

Cyberport Incubation Programme: This is a unique program under the Hong Kong administration that targets financing potential innovations. The resources are aimed at helping start-ups to accelerate their growth to expand in and outside Hong Kong. Most of the applicants under this program have already incorporated their businesses and are looking forward to accelerating growth.

Design Incubation Programme (Hong Kong Design Centre): This program is funded by Hong Kong administration and is meant to assist those in the design sector. It is aimed at helping businesses promote better designs, improving business designs, and educating professionals on sustained development. The Hong Kong administration is very committed to this program because its impacts cut across all sectors of the economy.

Small Entrepreneur Research Assistance Programme and Enterprise Support Scheme: This is a funding program run by the Innovation and Technology Fund (ITF) that targets to facilitate research. Through research, Hong Kong Administration believes that investors can find new meaning and grow faster in their operations. The funding is provided for studies that take about two years, especially in the tech sector. To apply for the start-up visa under this category and carry the research, you are required to have a registered company and pose no threat to the government. 

Benefits of entering and working in Hong Kong using the start-Up visa

a.) Total government support

The Hong Kong administration does not spare any effort when it comes to attracting technologies. It is particularly interested in leveraging technology as the next key economy driver. Whether you are in value addition or computing among others, do not hesitate to apply.

b.) Favorable business environment

Hong Kong business environment is ripe for start-ups. The large population and huge mobile penetration make it easy to design, market, and test technologies such mobile apps.

c.) Funding by Hong Kong authorities

If your start-up falls well within the Hong Kong outlined programs, an entrepreneur can seek funding from Hong Kong administration. You only need to make the necessary application with details of the start-up to ensure to get funding.

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