Jackson Chang, President of the Macao Trade and Investment Promotion Institute (IPIM), stated in response to a legislator's inquiry that since the implementation of the real estate investment immigration policy, Macau has attracted 50,000 people, with the majority aged between 35 and 44.
Prior to April 4, 2007, individuals could apply for residency through real estate investment if they purchased unencumbered real estate in Macau valued at no less than 1 million patacas, held unencumbered fixed deposits in a bank of no less than 500,000 patacas, and possessed a higher vocational or equivalent degree.
A favorable economic environment and the low threshold of 1.5 million Hong Kong dollars for the real estate investment immigration policy attracted a large number of foreign investors. In just seven years, Macau accepted a total of 17,808 application cases.
It is understood that as of the suspension of applications in 2007, there were 4,683 registered cases waiting to submit real estate investment immigration applications. As of February this year, 493 cases involving 1,433 people remained pending approval. It is expected that these will be processed within this year.
Since taking office, Chief Executive of the Macau SAR Fernando Chui Sai-on has repeatedly stated clearly that the previous real estate investment immigration policy in Macau, which was suspended following the promulgation of administrative regulations on April 4, 2007, has completed its mission in stages, and the Macau SAR government will no longer consider a standalone real estate investment immigration policy in the future.
