Posted by
a-mann
15 yrs ago
I've just set up my own consultancy and now need to "employ" myself. As part of this I also need to figure out how much to compensate myself (and pay MPF); and then apply for n investment visa on the back of this.
Is there any simple single source of information/help with this? The last thing I want is to have to traipse around to a lawyer, then a tax agent, then an accountant, for something which I'm figuring should be quite simple.
Can anyone help with advice and/or a model contract?
Thanks!
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Orangeman - I know the rules quite well and am well-positioned to obtain an investment visa - that wasn't the question I asked (incidentally, your idea of a minimum 6m investment is just ... utterly wrong).
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Orangeman, you are confusing the investment visa with the capital investment entrant scheme.
The investment visa requires setting up a company in Hong Kong and showing to the immigration department that you have a solid business plan and sufficient funds to run the business.
The capital investment entrant scheme is for people who would like to invest HK$ 6,500,000 in Hong Kong.
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Ed
15 yrs ago
http://www.immd.gov.hk/ehtml/hkvisas.htm
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orangeman - I'm sorry, I shouldn't have been so terse with you as you were kind enough to offer help. Anyway, I am indeed applying under the investment visa and InvestHK is being helpful here. I don't need to make any minimum investment. My own company can't be my sponsor - will get a friend who has PR to do that. Things looking good so far and nearly ready to submit the application, just pulling all the documents together. Cheers.
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Regarding the MPF you need to decide whether you're an employee of the company or classified as self-employed.
That will tell you whether you need to set up a company MPF or a self-employed MPF and you need to do this by law within 60 days of becoming a self-employed person or employee.
Some MPF providers charge more for setting up self-employed MPFs than company MPFs. May also depend if you have an existing MPF and whether you'll transfer the funds over.
If you've got an overseas pension plan you may be able to claim exemption.
Choosing the right MPF provider can be quite difficult and, not a lot of people know this, can affect the returns you get by surprisingly large amounts.
You can contact me to find out more about different MPF providers as it'll depend on your situation and criteria as to which will be the best for you.
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