On October 25, 2023, Chief Executive of the Hong Kong Special Administrative Region, John Lee, released the 2023 Policy Address. The policies regarding talent attraction and investment in Hong Kong have garnered the most attention. Please join the Worldway Group as we examine Hong Kong's policies on attracting and retaining talent, as well as drawing investment, as outlined in this year's Policy Address.
Implementation of the New Capital Investment Entrant Scheme
The Policy Address mentions the implementation of the New Capital Investment Entrant Scheme. Under this scheme, eligible investors who invest HK$30 million or more in assets such as stocks, funds, and bonds (excluding real estate) in Hong Kong may apply for entry to Hong Kong. This initiative aims to strengthen the development advantages of Hong Kong's asset and wealth management, financial, and related professional service sectors. Details will be announced within this year.
As you may know, the Hong Kong Capital Investment Entrant Scheme, also known as the Hong Kong Investment Immigration Scheme, was launched in October 2003 with an investment threshold of HK$6.5 million, allowing investments in both real estate and financial categories. In October 2010, the threshold was raised to HK$10 million, and the investment scope was restricted to financial assets only. In January 2015, the investment immigration scheme was suspended. Now, after an 8-year hiatus, the Hong Kong Investment Immigration Scheme will be relaunched in 2023. This is undoubtedly excellent news for entrepreneurs and investors interested in immigrating to Hong Kong. The Worldway Group will continue to monitor the details of the new Capital Investment Entrant Scheme and will share any new information with you as soon as it becomes available.
Expansion of the Top Talent Pass Scheme University List
The Hong Kong SAR Government has decided to expand the list of eligible universities under the Top Talent Pass Scheme starting in November, adding 8 top mainland Chinese universities and overseas institutions, bringing the total to 184. By expanding the university list, the Hong Kong Top Talent Pass Scheme will be better able to meet the needs of high-end talent across different fields and professions, providing applicants with more choices and opportunities.
Establishment of the Talent Service Office
Following the launch of the online platform "Talent Service Portal" last year, Hong Kong will officially establish a physical "Talent Service Office" at the end of this month. This office aims to provide support to talent coming to Hong Kong and to follow up on their development and needs after arrival.
Next year, Hong Kong will also host the "Global Talent Summit and the Guangdong-Hong Kong-Macao Greater Bay Area High-Quality Talent Development Conference" to promote exchange and cooperation in talent recruitment within the region.
It must be said that the Policy Address released this time is full of information. It not only restarts the long-suspended investment immigration program and relaxes the Top Talent Pass list but also introduces new tax subsidies and other policies to retain talent. In addition, John Lee stated that to encourage childbirth, the SAR government will set up a Newborn Baby Bonus. Starting today, newborns born in Hong Kong whose parents are Hong Kong permanent residents will be eligible for a one-off cash reward of HK$20,000.
As everyone knows, Hong Kong is a highly prosperous free port and international metropolis. It is the world's third-largest financial center, a vital international financial, trade, and shipping hub, and an international center for innovation and technology. It is also one of the world's freest economies and most competitive cities, making it extremely attractive. The Policy Address also demonstrates Hong Kong's determination and actions in attracting talent and revitalizing development. If you are interested in planning for Hong Kong residency or are currently considering it, please plan as early as possible to seize the policy dividends—apply early and benefit early!
Currently, by obtaining Hong Kong residency through the Quality Migrant Admission Scheme, as long as the applicant meets the requirements, there is no need to make any investment, no need to secure a local job offer beforehand, and one can freely choose to work or reside upon arrival in Hong Kong. A single application allows the whole family to be approved quickly. Children can enjoy free bilingual education in Hong Kong. After obtaining permanent residency in Hong Kong, children can participate in the Joint Entrance Examination for Universities in China for Hong Kong, Macao, and Taiwan students, making it easier to enter prestigious domestic universities or study abroad. It can be said that there are multiple advantages!
In addition, the Hong Kong Top Talent Pass Scheme is also a popular choice for immigrating to Hong Kong. This scheme has no asset requirements, no scoring requirements, no need for an employer, and no quota restrictions. High-income individuals or graduates from the world's top 100 universities can apply, and one person's approval benefits the whole family.
Immigration is a comprehensive planning process, and choosing a formal, professional, and reputable immigration agency with strong brand strength is crucial! Only a capable immigration company can truly help immigration applicants complete their immigration process smoothly. The Worldway Group has gained good recognition in the immigration industry for its high-quality service, large number of submitted applications, high success rate, and high customer satisfaction in handling Hong Kong immigration.
The Worldway Group, one of the Top 500 Asian Brands, has been rooted in Hong Kong for over 20 years. As one of the first companies to launch Hong Kong immigration services, it has professional offices in Hong Kong, Macao, and mainland China, and has successfully helped countless groups of clients move to Hong Kong. The Worldway Group possesses advantages such as a specialized and comprehensive customer service system, extensive experience in handling immigration, a professional and senior documentation team, a meticulous customer service team, and efficient, fast, and thoughtful landing services. We provide strategic planning and dedicated service for every investor's immigration journey. Whether it is before the investor applies for immigration, during the application process, or for a series of follow-up services after immigration, the Worldway Group goes all out to help investors realize their immigration dreams.
For more details about Hong Kong immigration, please send us a private message in the comment section or call the Worldway service hotline: Mainland China: 400-138-2929, Hong Kong: (852) 2802 8798