What this guide covers
- Incorporation and business registration establish existence; operating and transaction records explain what the business actually does.
- Prepare the company and operating documents in paragraph 77 as applicable. The guidance provides a specific alternative where audited accounts are unavailable.
- There is no fixed minimum turnover, investment or local headcount applying to every QMAS business.
Explain the business and your part in it
The person reading the application may know nothing about your business. Explain which legal entity operates in Hong Kong, what it sells, how it finds customers and receives payment, and what you personally do.
A shareholder-director, founder, partner and participant are not interchangeable roles. Set out beneficial ownership, directorship, day-to-day management and remuneration separately, rather than expecting “founder” on a business card to explain the relationship.
A first General Points Test extension focuses on steps towards settlement and residence in Hong Kong, with establishing a business as an example. Further extensions require settlement and contribution, with establishing or joining a business of reasonable size given as an example.
Reasonable size depends on the business model and circumstances; another company’s turnover or headcount is not a universal test. Initial QMAS ownership-assessment figures are not standard business-renewal thresholds either.
Show where you fit in the company structure
| Situation | Relevant official records | Our organisation suggestion |
|---|---|---|
| Hong Kong limited company | Business registration, incorporation certificate and relevant Companies Registry returns showing current shareholders and directors | Use current records and explain shareholding or directorship changes with dates |
| Overseas company registered in Hong Kong | Registration certificate and relevant registers with current directors and shareholders | Distinguish the overseas parent from the Hong Kong operating entity |
| Sole proprietorship or partnership | Certified extract of business registration information | Explain partners’ roles and your involvement |
| Your work and investment | Duties, remuneration evidence, actual investment amount and proof | Connect your contribution to bank and accounting records |
Registration answers “which entity and who are you?”, but not “what is the business doing?”. Explain nominee or indirect group ownership through clear structures and genuine records rather than describing it as direct ownership.
Company secretaries can provide current filings, while accountants explain accounts; both should agree with the application summary.
Connect accounts to actual transactions
Paragraph 77 lists the latest audited financial statements. If these cannot be supplied, provide recent management accounts with bank statements and other business-transaction evidence, such as customer contracts or shipping documents.
Saying “new company, no audit yet” does not remove financial evidence. Explain incorporation date, reporting period, accounting basis and available information, supporting management accounts with genuine transactions.
- Use accounts as the overview, distinguishing income, costs, receivables and cash flow, and identify the period and currency.
- Choose representative transactions relevant to the main business, ordered as contract/order, performance or delivery, invoice and payment.
- Match credits and payments in company bank statements. Explain cross-border payments, related-party transactions, loans and shareholder funding separately.
- Reconcile revenue and cash receipts through receivables, advance payments or timing differences, obtaining an accountant’s explanation where needed.
A software company paid in instalments for its first completed project can show the contract, delivery and acceptance records, invoices and actual receipts, accurately identifying unpaid amounts. Treating all shareholder funding as sales distorts the finances.
Numerous screenshots without corresponding transactions do not automatically make stronger evidence.
Choose transactions that make sense for the way the business operates. An e-commerce file might connect orders, supplies or shipping to platform settlement.
A consultancy can connect the service scope to staged delivery and payment; a research business should distinguish investment, development progress and transactions that have actually occurred. These are organisational examples, not an official requirement for identical delivery records from every company.
Where all revenue comes from related companies, explain the relationship, services and actual payments rather than leaving a single invoice to carry the explanation.
Describe people, premises and Hong Kong operations
Other applicable official items include an office tenancy, a current staff list with MPF contribution evidence, a company profile and future development plans. The profile should explain opening date, business, operating model, principal suppliers and markets rather than read like advertising.
For shared offices, remote teams or outsourcing, describe genuine arrangements and verifiable records. Do not invent leases or employees to imitate an assumed “standard company”.
- Products or services: separate launched, developing and discontinued activities. A plan is not achieved revenue.
- People: list real employee responsibilities and start dates. Distinguish contractors from staff and do not count supplier personnel as local employees.
- Hong Kong operations: explain local premises, management, customer service or delivery and how these connect with your daily work.
- Markets: distinguish signed clients, negotiations and projected expansion, dating important figures and identifying their sources.
Overseas customers do not by themselves negate Hong Kong operations. Equally, holding a Hong Kong company while all work, decisions and living arrangements remain abroad does not establish local settlement through a registered address alone.
Explain the actual cross-border model for assessment under the applicable criteria.
Separate money already invested from future plans
The guidance includes the amount of your actual investment and evidence. Distinguish paid-up capital, shareholder loans, equipment purchases and other contributions, identifying source, recipient and payment dates.
Nominal capital recorded at incorporation is not necessarily cash you invested. A table linking each contribution to bank or accounting evidence can help, with professional advice on classification.
A useful development plan explains where the product stands, which customers you intend to serve, the resources still needed, how they will be funded and when you will review progress. We suggest concentrating on achievable work over the next 12–24 months; that horizon is editorial advice, not an official rule.
If the business is not yet profitable, explain the losses, available cash runway and future funding arrangements honestly. Keep forecasts in the plan rather than presenting them as achievements.
Read the file as someone unfamiliar with the business
- Could an unfamiliar reader understand within two pages what the company sells, how it earns money and its current operating stage?
- Can every important figure be traced to accounts, banking or a formal contract, rather than only a company profile?
- Are your Hong Kong role, investment, daily work and residence mutually consistent?
- For official items that are inapplicable or temporarily unavailable, is there a clear, truthful explanation and available alternative evidence?
We suggest ordering documents as identity/structure, operating overview, finances/transactions, staff/premises, your duties/investment, and future plans, with a short index. This is readability advice; use official upload categories and limits.
When supplementing, answer the actual question with the relevant period and identify updates, rather than repeatedly writing a grand new story.
Frequently asked questions
Can a new company renew without audited accounts?
The guidance provides a route where the latest audited statements are unavailable: recent management accounts supported by bank statements and other transaction evidence. The department decides whether this is sufficient; incorporation alone or “not audited” is not enough explanation.
Must I rent a private office and hire local staff?
Official premises and staffing documents apply according to circumstances. There is no published universal rent, office-area or headcount threshold for all QMAS businesses. Explain genuine operations, Hong Kong connections and verifiable evidence.
Does a loss-making company necessarily mean refusal?
A single profit or loss figure cannot determine the outcome. Present operations, finances, your involvement and plans, meeting the settlement and contribution requirements applicable to this extension. We promise neither approval nor refusal.
Is a Hong Kong directorship enough evidence?
It establishes a legal role, but not actual business size, operations, personal contribution or Hong Kong settlement. Provide applicable operating and financial records under the official guidance.
Official sources and further reading
This guide draws on the sources below, last checked on 2026-11-13. Before acting, recheck the relevant authority’s current eligibility, fees and annual arrangements.
Hong Kong Immigration DepartmentQMAS Guidance Notes, ID(C) 982 (07/2026), paragraphs 72–79Checked 2026-11-13 · Open official sourceHong Kong Immigration DepartmentQuality Migrant Admission Scheme: official service pageChecked 2026-11-13 · Open official sourceGovHKOnline extensions of stay: QMAS entrants and their dependantsChecked 2026-11-13 · Open official sourceCheck whether each item is an official requirement, case-specific evidence or an editorial suggestion. Other people’s experiences may help, but decisions on your case remain with Immigration or the relevant authority.
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