Many have the exotic dream of relocating to Hong Kong. Almost anyone who has done any business travel in Asia has at least spent some time in the amazing Hong Kong airport (read our extensive HK airport guide here) and hopefully ventured into downtown Hong Kong for an afternoon on a layover. It is a fast paced, dynamic, and amazing city.
As the banking has tightened and businesses are more and more encouraged to have a “real” office in Hong Kong, I have had GFAVIPmembers asking many questions about the process of “investing in Hong Kong for the long term”.
Got a blog post with good information about moving to HK (long-term visas and stuff?)
Like visas when you have a company in HK, finding living space etc.
Know any good apartment rental sites, too?
Not a whole lot comes up. Mostly too generic stuff.Karl, entrepreneur
So today, let’s lay it all out there and give my advice and tips on the steps I would take on making a long term business move to a fully operational Hong Kong fixed operation.
#TLDR Too Long Didn’t Read Summary
This is an extensive article, and I can imagine those going through this process are overloaded with information. The main points to keep in mind are:
- Getting a HK company setup for this local operation. May be different than you online empire business.
- Find a place to live. Get a short term stay flat to get started, then once on the ground and comfortable, pick a long term flat (apartment).
- Talk to the local government – InvestHK and others will love you choosing HK for your “real” office and staff. They have many programs to support you.
- Find an office for your operations. You could also consider some of the many coworking choices in HK. The big question is how many staff you plan to hire and manage.
- Prepare for your long term immigration. Most likely if you are an owner/director you’ll go for the investment (entrepreneur) visa. Its a ton of paperwork, while you can do yourself, you’ll probably find an agency.
- Get settled into a long term apartment (flat) – once you have more confidence on your office, staff, immigration situation, as well as know what district of Hong Kong you enjoy spending time in (as well as where your office is) you can get a longer term lease contract.
Each of these points will be covered in today’s article, so let’s get going!
First – Why You Should Consider Having a Physical Company Base In Hong Kong
This blog has always accommodated more the “digital nomad” living on the beaches of Thailand or the temples of Inner China. Yet there are strategic business reasons to “level up” and invest in a real office in a major metropolitan city such as Hong Kong. Here’s a list of supporting reasons:
- Hong Kong local market is a great market – you can charge premium rates for your products and services in Hong Kong. There are major MNCs (Multi National Corporations) more than willing to pay top dollar for internet marketing, e-commerce, and other professional business consulting services. I know a host of freelancers in Hong Kong doing really well with just a small handful of local Hong Kong businesses.