Presented by : Mr Andy Y. M. CHAN, Immigration Officer of Hong Kong Immigration Department Venue: Hong Kong Institute of CPAs Training Centre, 27/F of Wu Chung House Date: Friday, 8 May 2009. Capital Investment Entrant Scheme. Disclaimer.
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Two Routes to Approval:
Paragraph 2.1 of the Scheme Rules:-
Specified Financial Assets
During the period of ring-fencing:
(i) ascertain the ownership;
(ii) convert the foreign currency to HKD;
(iii) check the bank statements falling within the specified 2 years;
(iv) ensure the specification for bank reference letter.
(i) review land title document to ensure the ownership;
(ii) ascertain the market values of the real estate from the property appraisal report;
(iii) take note of the net value consideration on any and every charge, lien and encumbrance secured on that property throughout the concerned 2 years;
(iv) Applicant is required to report any liability be attached to that property in the form of a declaration which should be submitted together with the Report of Factual Findings.
(i) obtain the legal document to ascertain the existence of the investment;
(ii) review the Memorandum or Articles of Association to ensure the establishment of ownership and shareholding of the Applicant and to obtain the recent company search to check the latest ownership status;
(iii) acquire any necessary document to verify the change of ownership during the specified 2 years;
(iv) obtain the audited financial statements which cover the 2 years concerned;
(v) any personal loan made by the Applicant to a company or an individual is not considered.