As we all know, according to the requirements of the Hong Kong Immigration Department, applicants can apply for Hong Kong status under the TTPS as long as they meet one of the following requirements:
Category A: Applicants with an annual income of HK$2.5 million or above, or its equivalent in foreign currency, in the year immediately preceding the date of application.
Category B: Applicants who have obtained a bachelor's degree from an eligible university and have accumulated at least three years' working experience in the five years immediately preceding the date of application.
Category C: Applicants who have obtained a bachelor's degree from an eligible university with less than three years' working experience in the five years immediately preceding the date of application.
In terms of the application requirements for class B and class C, most of the friends have no doubts, and AI Jun will not talk about this. However, for the A type of application, there are many small partners who have doubts about the income certificate, if the personal income does not meet the standard, can they use the company's income to apply?
According to the requirements of the Hong Kong Immigration Department, in general, an applicant's holding of 50% or more of the equity of a company can be regarded as owning the company, and the applicant's taxable profits from the company owned by the applicant based on his shareholding share can be regarded as the applicant's annual income. If the applicant does not hold 50% or more of the company's equity, he/she will be required to provide proof of personal income as proof of interest income.
Speaking of which, some friends will ask: "I now hold less than 50% of the company's equity, but the remaining equity of the company can also be changed and transferred to me, is the temporary transfer of shares accepted by the immigration department?"
In response to this question, AI Jun will show you a supplementary information notice from the Immigration Department, and everyone will know the answer after reading it.
For example:
From January 1, 2023 to December 31, 2023, the applicant held 30% of the shares of Company A, and then the company's taxable profit for the year 2023 was 3 million. According to the equity ratio, the applicant's income in 2023 is: 3 million x 0.3 = 900,000. Neither the shareholding ratio nor the income level meet the requirements for the Category A application for the TTP, and the application cannot be made with the company's income.
Subsequently, on January 1, 2024, the applicant changed its shareholding ratio and added 60% of the equity of Company A, that is, the applicant held a total of 90% of the equity of Company A.
Assuming that the applicant applies for TTPS Category A in April 2024 with the company's income, the applicant will be required to provide information to prove that the taxable profits derived from the ownership of the company between April 2023 and March 2024 reach HK$2.5 million or above, based on the applicant's shareholding ratio. That is: (Company A's revenue from April to December 2023 x 0.3) + (Company A's revenue from January to March 2024 x 0.9) ≥ HK$2.5 million.
Therefore, when applying through category A, especially with company income, you must pay attention to ensure that your income in the year immediately before the application meets the requirements of the plan, and you can provide relevant income proof materials to support it. If you are not sure whether your income meets the requirements of the TTP A application, you can also ask AI Jun to help you evaluate it~