These are trying times for investment bankers with the global financial crisis continuing to lead to career uncertainties for these professionals with seemingly no end sight.
Many such bankers are here in Hong Kong on employment visas sponsored by their last investment bank employer.
If you, as many indeed have, been laid off – what are your visa options if you decide that you prefer to stay in Hong Kong rather than head back home or to another jurisdiction where perhaps your employment prospects are that much better at this time?
You principally have four options.
You can apply to further your education and secure a student visa. This is straightforward enough. Or;
You can participate in the Capital Investment Entrant Scheme by locking HKD10 million into certain types of Hong Kong securities. Assuming, of course, you have the resources – and the appetite. Or;
You can run the gauntlet of the Quality Migrant Admission Scheme – not for the faint hearted and almost certainly a 10-12 month process. Or;
You can start a new or join in an existing business for yourself, as many of your colleagues have been doing. This can be achieved readily enough with about HKD1 million cash in the enterprise, a decent business plan and a well-told story.
We are presently securing several investment visas each month for investment bankers who find their current limits of stay expiring soon and who need an alternate rationale for remaining in Hong Kong.
The investment visa is the most flexible and, often the fastest route typically needing no more than 8 weeks to application finalization.
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