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Poland: Market Profile

Picture: Poland factsheet
Picture: Poland factsheet

1. Overview

Poland has reached high-income status over a relatively short period of time and this has translated into remarkable progress in poverty reduction and shared prosperity. Few middle-income countries have experienced such consistent broad-based growth, both fast and stable (on average 3.6% over the past decade). This transition benefited from increases in productivity, strengthened institutions, human capital investments, and sound macroeconomic management. Despite a successful performance so far, however, a coherent set of policies is needed to respond to long-term challenges and opportunities, including managing one of the most rapidly aging societies in Europe, urbanisation challenges and leveraging technological change.

Source: Fitch Solutions, World Bank

2. Major Economic / Political Events and Upcoming Elections

November 2014
Poland adopted a new National Security Strategy.

May 2015
Conservative Law and Justice candidate Andrzej Duda overtook incumbent Bronislaw Komorowski in
presidential election charted the way for Law and Justice party to win overall majority in Polish democratic elections in October 2015.

December 2017
Finance Minister Mateusz Morawiecki took over as prime minister of the Law and Justice party government. The resignation of Polish Prime Minister Beata Szydło and subsequent promotion of Deputy Prime Minister and Minister of Economic Development and Finance Mateusz Morawiecki, marked significant changes within the governing PiS leadership.

July 2018
General Electric (GE) signed a contract with Elektrownia Ostroleka to build a 1GW ultra-supercritical coal power plant in northeast Poland. Under the contract, GE will design and construct the power plant as well as manufacture and deliver boiler and steam turbine generators. GE will also supply air quality control systems in accordance with the latest EU standards in terms of local emissions. GE stated that its equipment would offer 46% efficiency, against the global average of 33%. The power plant, called Ostroleka C, is likely to generate sufficient power for 300,000 Polish homes. The plant is expected to start operating in 2023, according to a GE press release.

August 2018
The Polish government announced plans to build nearly 2,700 low-cost rental apartments in Warsaw. The homes will be built on a 150,000 sq m parcel of land in the Ursynów district under the government’s Home-plus affordable housing programme. The houses will be built in coordination with BGK Nieruchomości. Construction on the housing projects is slated to start by Q219 (Informacyjna Agencja Radiowa). Polish President Andrzej Duda signed a bill earlier in August, aiming to expedite the construction of new homes.

Source: BBC country profile – Timeline, Fitch Solutions
Date last reviewed: August 6, 2018

3. Major Economic Indicators

Graph: Poland real GDP and inflation
Graph: Poland real GDP and inflation
Graph: Poland GDP by sector (2017)
Graph: Poland GDP by sector (2017)
Graph: Poland unemployment rate
Graph: Poland unemployment rate
Graph: Poland current account balance
Graph: Poland current account balance

e = estimate, f = forecast
Source: International Monetary Fund, World Bank, Fitch Solutions

4. External Trade

4.1 Merchandise Trade

Graph: Poland merchandise trade
Graph: Poland merchandise trade
 

Source: WTO
Date last reviewed: August 6, 2018

Graph: Czech Republic major export commodities (2017)
Graph: Czech Republic major export commodities (2017)
Graph: Czech Republic major export markets (2017)
Graph: Czech Republic major export markets (2017)
Graph: Czech Republic major import commodities (2017)
Graph: Czech Republic major import commodities (2017)
Graph: Czech Republic major import markets (2017)
Graph: Czech Republic major import markets (2017)

Source: Trade Map, Fitch Solutions

4.2 Trade in Services

Graph: Poland trade in services
Graph: Poland trade in services

e = estimate
Source: WTO

5. Trade Policies

  • Poland has been a member of WTO since July 1, 1995 and a member of GATT since October 18, 1967.

  • Poland has been a member of the EU since 2004. All EU member states are WTO members.

  • Trade flows are largely unhindered by import tariffs, which at 1.5% on average, are among the lowest in the world, and non-tariff barriers to trade are minimal. There are no currency controls or import substitution policies that would burden importers, and trade standards and policies adhere to EU rules.

  • Poland applies the EU's Common External Tariff (CET), which means goods manufactured and imported from within the EU are not subject to customs charges. The average tariff rate for EU states is just 1%, which is among the lowest globally, although goods imported from outside the EU will incur duties of between 0%-17%.

  • The EU has imposed various anti-dumping measures on a wide range of products, predominantly in the areas of textiles, machine parts, steel, iron and machinery on goods coming from China and a few other Asian nations to protect domestic industries. Currently, a number of Chinese mainland-origin products are subject to duties, including bicycles, bicycle parts, ceramic tiles, ceramic tableware and kitchenware, fasteners, ironing boards and solar glass, which are of interest to Hong Kong and regional exporters. In November 2016, the European Commission (EC) imposed a provisional antidumping duty on imports of the some primary and semi-processed metals from China. The rate of duty is between 43.5%-81.1% of the net free-at-Union-frontier price before duty depending on the company. In the same vein, the rate of duty for similar goods from Belarus is 12.5% of the net, free-at-Union-frontier price before duty. As of end-December 2017, the EU did not apply any anti-dumping measures on imports from Hong Kong.

  • Steel: In 2016, the EC introduced an import licensing regime for steel products exceeding 2.5 tonnes. The regulation will be active until May 15, 2020.

  • In March 2016, the EC announced a new support package for European farmers, which involves mobilising an estimated EUR500 million by 2019.

  • In February 2018, the Polish government officially enacted its Act on Electromobility and Alternative Fuels. The Act will introduce excise duty exemptions for electric vehicles (EVs), tax exemptions for companies using EVs, a new government procurement plan based on electrifying its government fleet, as well as support for charging infrastructure development. This reform will position Poland well in terms of attracting investors that are higher-up the automotive and technology value chains.

  • Value-Added Tax (VAT) is charged at a rate of 23% on sale of goods, services and imports; 0% applies to exports and supplies of goods within the EU. Reduced rates (applicable to specified goods and services indicated in the VAT Act, such as food, agricultural products and medical equipment).

  • In April 2015, the Polish parliament amended the pharmaceutical law, restricting exports of medicinal products from the country. The amendment also introduced strict reporting obligations for marketing authorisation holders and warehouses.

Source: WTO - Trade Policy Review, Fitch Solutions

6. Trade Agreement

6.1 Multinational Trade Agreements

Active

  1. Poland is a member of WTO (Effective date: July 1, 1995) and the EU since 2004.

  2. EU is a political and economic union of 28 member states that are located primarily in Europe. As an EU member, Poland applies the EU Common External Tariff and enjoys tariff-free trade within the EU. Within the Schengen Area, passport controls have been abolished. A monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency; however, Poland maintains its own currency.

  3. The Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada will be provisionally applied as of September 2017. The agreement is expected to boost trade between partners as CETA removes all tariffs on industrial products traded between the EU and Canada. CETA also opens up government procurement. Canadian companies will be able to bid on opportunities at all levels of the EU government procurement market and vice-versa, though some sectors are restricted. The agreement will only enter into force fully and definitively, however, when all EU Member States have ratified the Agreement.

  4. Europe Free Trade Association (EFTA) includes Switzerland, Norway, Liechtenstein, Iceland. The European Economic Area (EEA) unites the EU Member States and the three EEA EFTA States (Iceland, Liechtenstein, and Norway) into an Internal Market governed by the same basic rules. These rules aim to enable goods, services, capital, and persons to move freely about the EEA in an open and competitive environment, a concept referred to as the four freedoms. The Agreement on the European Economic Area, which entered into force on January 1, 1994, brings together the EU Member States and the three EEA EFTA State, Iceland, Liechtenstein and Norway, in a single market, referred to as the Internal Market.

Signed, Awaiting Ratification

EU-Japan Trade Agreement: In July 2018, the EU and Japan signed a trade deal that promises to eliminate 99% of tariffs that cost businesses in the EU and Japan nearly EUR1 billion annually. According to the European Commission, the EU-Japan Economic Partnership Agreement (EPA) will create a trade zone covering 600 million people and nearly a third of global GDP. The result of four years of negotiation, the EPA was finalised in late 2017 and is expected to come into force by the end of the current mandate of the European Commission in 2019. The total trade volume of goods and services between the EU and Japan is EUR86 billion. The key parts of the agreement will cut duties on a wide range of agricultural products and it seeks to open up services markets, in particular financial services, e-commerce, telecommunications and transport. As of August 2018, the agreement is awaiting ratification by the European Parliament and the Japanese Diet following which it could enter into force in 2019. At the same time, negotiations with Japan continue on investment protection standards and investment protection dispute resolution.

Under Negotiation

EU-Australia: EU, Australia's second-largest trade partner, has launched negotiations for a comprehensive trade agreement with Australia. Bilateral trade in goods between the two partners has risen steadily in recent years, reaching almost EUR48 billion in 2017, while bilateral trade in services added an additional EUR27 billion. The negotiations aim at removing trade barriers, streamlining standards and putting European companies exporting to or doing business in Australia on an equal footing with those from countries that have signed up to the Trans-Pacific Partnership or other trade agreements with Australia. The Council of the EU authorised opening negotiations for a trade agreement between the EU and Australia on May 22, 2018.

Source: WTO Regional Trade Agreements database, Fitch Solutions

7. Investment Policy

7.1 Foreign Direct Investment

Graph: Poland FDI stock
Graph: Poland FDI stock
Graph: Poland FDI flow
Graph: Poland FDI flow

7.2 Foreign Direct Investment Policy

  1. Government bodies that are responsible for FDI promotion, licensing and regulations - There are a variety of Polish agencies involved in investment promotion: The Economic Development Ministry has two departments involved in investment promotion and facilitation: the Large Investment Support Department and the International Relations Departments. The Foreign Affairs Ministry promotes Poland’s foreign relations, including economic relations, and along with the Polish Chamber of Commerce, organises missions of Polish firms abroad and hosts foreign trade missions to Poland. Starting February 2017, the Polish Investment and Trade Agency (PAIH) replaced the Polish Information and Foreign Investment Agency (PAIiIZ) as the main institution responsible for promotion and facilitation of foreign investment. The rebranding is connected with the expansion of the scope of the agency's activities. Apart from providing services to investors in the country, PAIH will support Polish investors abroad. The agency will operate as part of the Polish Development Fund, which integrates government development agencies. PAIH will coordinate all operational instruments, such as diplomatic missions, commercial fairs and programs dedicated to specific markets and sectors, as well as promote the Polish economy and attract foreign investors to the country and these services are available to all investors.

  2. Related law and regulations on foreign investment are well established; however, some restrictions still remain for FDI such as limits on foreign ownership and business activity in core sectors. The Act on the Control of Certain Investments entered into force in 2015 and provides for the screening of acquisitions in energy generation and distribution; petroleum production, processing and distribution; telecommunications; and the manufacturing and trade of explosives, weapons and ammunition.

  3. Poland’s support for foreign investors is generally sectoral in focus; regional support is provided in the context of sectoral investments. Any company investing in Poland, either foreign or domestic, may apply for assistance from the Polish government. Foreign investors have the potential to access grants and certain incentives. There are 14 Special Economic Zones located throughout Poland on major supply chain routes. The benefits available for locating in these zones include income tax exemption, real estate tax exemption, competitive land prices and close access to high-quality local suppliers.

  4. Foreign ownership is permitted with the exception of some sectors designated as strategic. Polish law restricts foreign investment in land and real estate. Polish law limits non-EU citizens to 49% ownership of a company's capital shares in the air transport, energy, radio and television broadcasting and airport and seaport operations sectors.

  5. Licences and concessions for defence production and management of seaports are granted on the basis of national treatment for investors from OECD countries.

  6. Polish law restricts foreign investment in land and real estate. Since Poland's EU accession, foreign citizens from EU member states and EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland) do not need permission to purchase non-agricultural real estate, or to acquire or receive shares in a company owning non-agricultural real estate in Poland. Land usage types, such as technology and industrial parks, business and logistic centers, transport, housing plots, farmland in special economic zones, household gardens and plots up to 2 hectares are exempt from agricultural land purchase restrictions. Citizens from countries other than the EU and EFTA are allowed to purchase an apartment, 0.4 hectares of urban land, or up to one-half hectare of agricultural land with building restrictions and restrictions on eligibility for government support programs. In order to make large commercial real estate purchases, foreign citizens must obtain a permit from the Ministry of Interior (with the consent of the Defense and Agriculture Ministries), pursuant to the Act on Acquisition of Real Estate by Foreigners. Laws to restrict farm land and forest purchases came into force April 30, 2016.

Sources: WTO - Trade Policy Review, Government Websites, The International Trade Administration (ITA), US Department of Commerce

7.3 Free Trade Zones and Investment Incentives

Free Trade Zone/Incentive ProgrammeMain Incentives Available
There are 14 Special economic zones (SEZs) located throughout Poland on major supply chain routes- Exemption from custom duties and VAT
- Competitive land prices
- Real estate tax, Income tax exemption
- Good access to high quality local suppliers
- The amount of government aid available to investors is subject to the EU's aid intensity programme, whereby projects in less developed regions benefit from incentives up to 50% of the costs of new investment, with this percentage falling to 10% in the most developed region, Warsaw. Investment grants of up to 50% of investment costs (or 70% for small or medium-sized enterprises) are available; grants for research and development; grants for other activities such as environmental protection, training, logistics, or use of renewable energy sources.

Source: US Department of Commerce, Fitch Solutions

8. Taxation – 2018

  • Value added tax: 23%
  • Corporate income tax: 19%

Source: PwC Worldwide Tax Summaries
Date last reviewed: August 6, 2018

8.1 Important Updates to Taxation Information

  • As of January 1, 2018, the ‘minimum income tax level’ for taxpayers holding substantial real estate, which has initial value over PLN 10 million, has been introduced. ‘Minimum tax’ is payable monthly at 0.035% of excess of the initial value of the building over PLN 10 million (0.42%, annually). Consequently, tax will be due regardless of the level of actual income derived by the taxpayer.

  • The amendment of November 24, 2017 to the Polish Corporate Income Tax (CIT) Act provided for an annual publication by the Ministry of Finance (MoF) of individual tax data of CIT payers with the highest revenues and all Tax Capital Groups. This took effect January 1, 2018, with the first tax data for the years 2012 to 2017 being published in April 2018 for the years 2012 to 2016 and in July 2018 for year 2017.

  • On September 1, 2016, the Retail Tax Act of 6 July 2016 entered into force, but was quickly suspended for 2016 and 2017 due to European Commission (EC) investigation into the Polish tax on the retail sector. As a result, the new retail tax was postponed until January 1, 2019.

  • Poland's tax regime is applied evenly to both resident and non-resident businesses. A corporate entity is considered resident for tax purposes if it has been legally incorporated in Poland or if its place of effective management is located there. Resident companies are subject to income tax on worldwide income, while non-resident entities (branches of foreign companies) are taxed on Poland-sourced income only. A flat rate of 19% is applied to profits and capital gains of both resident and non-resident businesses.

8.2 Business Taxes

Type of TaxTax Rate and Base
Corporate Income Tax19% on taxable earnings
The 15% corporate tax rate applies only to start-up taxpayers and taxpayers whose revenue from sales (including value-added tax due) in the preceding tax year did not exceed the local currency equivalent of EUR1.2 million (small taxpayers).
Branch Tax19% on profits
Capital Gains TaxTreated as taxable income; 19% on profits
Withholding Tax (interest, royalties, services)20% on net earnings
Real Estate Tax
5%
Value-Added Tax (VAT)23% on sale of goods, services and imports; 0% applies to exports and supplies of goods within the EU. Reduced rates (applicable to specified goods and services indicated in the VAT Act, such as food, agricultural products and medical equipment).

9. Foreign Worker Requirements

9.1 Localisation Requirements

Foreigners can only be employed in positions for which no suitable candidate could be found within Poland or in other EU member states. After a five-year period, EU citizens acquire the status of permanent resident if he or she continues to fulfil the respective conditions.

9.2 Obtaining Foreign Worker Permits for Skilled Workers

In order to employ foreign workers from outside the EU, businesses must apply for work permits according to the type of activity the worker will undertake and the length of their stay in Poland. The rules and regulations regarding labour mobility are broadly in line with EU directives, allowing for the free movement of labour within the EU. People from the EU do not need any work permit, but their employer must inform the job office about their being hired. Most non-EU citizens require a work visa and permit in order to work in the country - which generally takes about a month to obtain. The EU Bluecard Regime makes it easier for highly skilled workers outside of the EEA to enter the country. Poland accepts EU Blue Card applications from highly skilled third-country nationals who have an employment contract with a Polish company and possess the required qualifications.

9.3 Visa/Travel Restrictions

The work permit holder must have worked and resided in Poland lawfully for at least two continuous years before becoming eligible to sponsor accompanying family members for residence in Poland. Dependants and family members that are non-EU/EEA must enter Poland as tourists and obtain visas according to their nationality. Businesses that bring workers with family members that are EU/EEA/Swiss nationals can enter Poland with a valid identification document confirming their citizenship. Family members of EU/EEA/Swiss nationals who are not citizens of these countries can enter Poland with a valid travel document and a visa, if required. After a continuous period of residence of five years on Polish territory, an EU/EEA/Swiss national obtains a right of permanent residence. The European Parliament and the Council of the European Union have tightened the Schengen Borders Code regulations on external border crossings. Effective April 7, 2017 all persons crossing an external border will undergo thorough checks.

Source: Government websites, Fitch Solutions Labour Market Risk

10. Risks

10.1 Sovereign Credit Ratings


Rating (Outlook)Rating Date
Moody's
A2 (Stable)12/05/2017
Standard & Poor'sA- (Positive)15/01/2016
FitchA- (Stable)08/06/2018

Source: Moody's, Standard & Poor's, Fitch Ratings

10.2 Competitiveness and Efficiency Indicators


World Ranking
201620172018
Ease of Doing Business Index25/18924/190
27/190
Ease of Paying Taxes Index58/189
47/19051/190
Logistics Performance Index
33/160
N/A28/160
Corruption Perception Index
29/176
36/180N/A
IMD World Competitiveness33/6338/6334/63

Source: World Bank, IMD, Transparency International

10.3 Fitch Solutions Risk Indices


World ranking
201620172018
Economic Risk Index Rank33/202
Short-Term Economic Risk Score6672.572.5
Long-Term Economic Risk Score64.172.670.1
Political Risk Index Rank40/202
Short-Term Political Risk Score76.570.869.6
Long-Term Politica Risk Score77.981.675.6
Operational Risk Index Rank30/201
Operational Risk Index Score67.269.268.9

100 = Lower risk; 0 = higher risk
Source: Fitch Solutions
Date last reviewed: August 6, 2018

10.4 Fitch Solutions Risk Summary

ECONOMIC RISK
Poland's Long-Term Economic Risk score reflects the country's solid growth trajectory and steady convergence with Western EU member states. Poland's large domestic market, by regional standards, provides a measure of protection against a volatile global economy and uncertainty regarding eurozone stability and UK's decision to leave the EU. Looking ahead, real GDP growth will remain strong over 2018-2027, public debt is low, and unemployment has fallen sharply to its lowest level since Poland's independence in 1991.

OPERATIONAL RISK
Poland offers an attractive investment destination, benefitting from access to a large domestic and regional consumer market, EU membership and a diversified domestic manufacturing base, all of which are key elements that support healthy growth in trade and investment. The country boasts a well-developed domestic financial market and broad investment incentives. Cross-border trade is facilitated by strong road and rail connections to neighbouring states as well as international maritime connections. There are some key risks to consider, however, including the government's increasingly populist leanings, high exposure to demand shocks in key export markets, a shrinking labour pool and regionally uncompetitive utilities costs.

Source: Fitch Solutions
Date last reviewed: August 6, 2018

10.5 Fitch Solutions Political & Economic Risk Indices

Graph: Poland short term political risk index
Graph: Poland short term political risk index
Graph: Poland long term political risk index
Graph: Poland long term political risk index
Graph: Poland short term economic risk index
Graph: Poland short term economic risk index
Graph: Poland long term economic risk index
Graph: Poland long term economic risk index

100 = Lowest risk; 0 = Highest risk
Source: Fitch Solutions Economic and Political Risk Indices
Date last reviewed: August 6, 2018

10.6 Fitch Solutions Operational Risk Index


Operational RiskLabour Market RiskTrade and Investment RiskLogistics RiskCrime and Security Risk
Poland Score68.955.669.272.378.4
Central and Eastern Europe Average61.155.063.463.662.5
Central and Eastern Europe Position (out of 11)36
412
Emerging Europe Average56.754.158.457.456.8
Emerging Europe Position (out of 31)312513
Global Average49.749.850.049.349.9
Global Position (out of 201)3056322527

100 = Lowest risk; 0 = highest risk
Source: Fitch SolutionsOperational Risk Index

Graph: Poland vs global and regional averages
Graph: Poland vs global and regional averages
Country
Operational Risk IndexLabour Market Risk Index
Trade and Investment Risk IndexLogistics Risk IndexCrime and Secruity Risk Index
Estonia71.0
59.1
77.2
70.5
77.0
Czech Republic70.6
57.7
70.0
70.2
84.5
Poland
68.9
55.6
69.2
72.3
78.4
Lithuania67.4
55.2
71.8
71.3
71.5
Latvia65.1
57.5
68.4
67.9
66.6
Hungary63.2
55.6
63.4
62.4
71.3
Slovakia62.9
49.7
67.7
60.7
73.5
Belarus57.1
56.5
59.2
62.7
49.9
Russia56.0
63.6
56.2
63.4
40.9
Moldova45.3
39.8
49.2
48.7
43.4
Ukraine45.154.9
45.6
49.5
30.5
Regional Averages61.1
55.0
63.4
63.6
62.5
Emerging Markets Averages46.8
48.0
47.5
45.8
46.0
Global Markets Averages49.7
49.8
50.0
49.3
49.9

100 = Lowest risk; 0 = highest risk
Source: Fitch Solutions Operational Risk Index
Date last reviewed: August 6, 2018

11. Hong Kong Connection

11.1 Hong Kong’s Trade with Poland

Graph: Major export commodities to Poland (2017)
Graph: Major export commodities to Poland (2017)
Graph: Major import commodities from Poland (2017)
Graph: Major import commodities from Poland (2017)
Graph: Merchandise exports to Poland
Graph: Merchandise exports to Poland
Graph: Merchandise imports from Poland
Graph: Merchandise imports from Poland

Exchange Rate HKD/US$, average
7.78 (2011)
7.76 (2012)
7.76 (2013)
7.76 (2014)
7.75 (2015)
7.76 (2016)
7.79 (2017)
Source: Hong Kong Census and Statistics Department


2017
Growth rate (%)
Number of Poland residents visiting Hong Kong29,136
-0.3

Source: Hong Kong Tourism Board


2017
Growth rate (%)
Number of European residents visiting Hong Kong1,929,824-0.2

Source: Hong Kong Tourism Board
Date last reviewed: August 6, 2018

11.2 Commercial Presence in Hong Kong


2016
Growth rate (%)
Number of EU companies in Hong Kong2,107
N/A
- Regional headquarters442
- Regional offices717
- Local offices948

Source: Hong Kong Census and Statistics Department

11.3 Treaties and Agreements between Hong Kong and Poland

Poland has double taxation agreements (DTA) with China (mainland) but there are no separate agreements in place with Hong Kong. Mainland China has a DTA with Poland covering dividends (10%), royalties (0/10%) and interest (7/10%).

Source: Hong Kong Department of Justice

11.4 Chamber of Commerce (or Related Organisations) in Hong Kong

Polcham

The Poland Hong Kong Chamber of Commerce was establised in 2009 with the aim of supporting individuals and businesses based locally and also promoting trade, networking and investment in Hong Kong.

Address: Level 3A Causeway Corner, 18 Percival street, Causeway Bay, Hong Kong
Email: info@polcham.hk

Source: Directory of Hong Kong Trade and Industrial Organisations, Hong Kong Trade and Industry Department

Polish Consulate General in Hong Kong
Address: Room 2506, level 25, Hopewell Centre, 183 Queens Road East, Wanchai, Hong Kong
Email: hongkong.kg.info@msz.gov.pl
Hours of Business: Monday to Friday, 10:00 a.m. - 4:00 p.m.
Consulate opening hours can vary. Always contact the Consulate before a visit.
Tel: (852) 2840 0779
Fax: (852) 2596 0062

Source: Hong Kong Protocol Division of Government Secretariat

11.5 Visa Requirements for Hong Kong Residents

  • Visa Application must be completed prior to travel. The Consulate General of the Republic of Poland kindly informs all applicants, that it is obligatory to register the visa application on-line prior visiting the Consulate. The visa process takes 15 calendar days counting from the date of submitting the application. However, the time may vary according to the case nature and number of applications submitted at the same time.
  • All the documents must be translated to English language.
  • Visa fee: HKD600 (or EUR60) in cash only
  • The Consulate reserves the right to require additional documentation at any time. Generally, HKSAR passport holders do not need a visa to the Schengen area for a stay up to 90 days in any 180-day period. For information on the stay period in the Schengen area, please visit the website of the European Commission.

Source: Visa on Demand

Content provided by Picture: Fitch Solutions – BMI Research