[ESTABLISHING A BUSINESS ENTITY IN HONG KONG]
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Department for a visa / permit entry to enter Hong Kong for investment as entrepreneur. Generally, they are required to be in a position to make substantial contribution to the economy of Hong Kong with reference to a range of consideration factors, or the start-up business concerned is supported by certain government-backed programmes and the applicant is the proprietor or partner of the start-up company or a key researcher of the relevant project. If the business will engage or employ anyone without the right of abode in Hong Kong, such persons will need to apply for visa / entry permit to take up employment in Hong Kong. The applicants should normally possess special skills, knowledge, or experience of value to and not readily available in Hong Kong. 6. Foreign Investment Restrictions No General Restrictions There is no general restriction on foreign investment in Hong Kong save for certain regulated sectors. One notable exception is the restrictions on voting control by non- residents over licensed broadcasters. A sale or transfer of residential property in Hong Kong is subject to buyer’s stamp duty where the purchaser or transferee is not a Hong Kong permanent resident. Exchange Control or Currency Regulations There is no foreign exchange control in Hong Kong. There is generally no restriction on the repatriation or remittance of funds outside Hong Kong, subject to the compliance of the anti-money laundering laws and regulations.
SIT, FUNG, KWONG & SHUM
Sit, Fung, Kwong & Shum is one of the major local law firms in Hong Kong. We have a wide spectrum of practice areas including corporate and commercial, dispute resolution, conveyancing and probate, trusts, and technologies. We provide professional services to local and overseas clients including leading multinational corporations, public and private companies, and professional firms. Our Corporate & Commercial Department advises on a wide spectrum of corporate and commercial matters in Hong Kong, the Mainland China, and other jurisdictions. With a team of experienced and dedicated lawyers, we are able to steer through complex issues and provide high quality advices which are practical and solution-oriented. Our clients encompass listed and private companies, investment funds as well as financial institutions from different countries. The information in this Guide is for general guidance only and does not constitute legal or professional advice. Our firm assumes no responsibility for such information and expressly disclaims all liabilities arising from or in connection with any reliance thereof.
ILN Corporate Group – Establishing a Business Entity Series
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