THE AMERICAN CHAMBER OF COMMERCE IN HONG KONG
Elements Fundamental to Hong Kong's Success
Americans have long understood Hong Kong's global economic importance and its attractiveness as a place to conduct business. As a result, U.S. interests in Hong Kong have grown over the years and investment has soared. Today the immense presence of U.S. and foreign investment in the territory is surpassed only by China.
For the past twenty-four years, the American Chamber of Commerce in Hong Kong (AmCham) has promoted Hong Kong's unique attributes that have enabled the territory to flourish and prosper and become the phenomenal success story it is today. These unique elements remain fundamental to Hong Kong's future success. In broad terms, these include: safety, security, education opportunities, clean environment, sound infrastructure, clear and convenient immigration policies, favorable fiscal policies, a stable and reliable legal system, and a social environment secure from corruption and coercion.
These decisive elements are mentioned time and time again as reasons why international businesses operate and invest in Hong Kong. Over the years, AmCham has compiled a list of 47 points that we think are of vital importance to the international business community.
Rights and Privileges of Residents
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It is essential to Hong Kong's continued attractiveness to foreign companies that elements of current Hong Kong practice be maintained; particularly that:
Entry and departure from Hong Kong for business travel or tourism is unrestricted or minimally restricted for local as well as international travelers.
Visas allowing residence and local employment for nationals and their family members of other countries are granted on the basis of procedures which are simple, comprehensible, managed efficiently, processed in a timely manner, not characterized by onerous restrictions, and compatible with the interests of Hong Kong's employers, whether domestically based or foreign companies.
Individual expatriates seeking to own or operate small businesses are eligible for, and generally gain permission for, local residence and employment status.
Assignments for expatriate staff to work in Hong Kong are generally free from restriction, subject only to their meeting certain minimal terms of employment.
Continuity of residence permission for expatriates, once granted, is not subject to any quota system, onerous review, or limited duration, subject only to the continuation of employment and in the absence of legal wrongdoing by the applicant.
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