HONG KONG

• Serves as a global communications hub with exceptional infrastructure
• Features a world-class international airport and holds the title of the world's busiest container port
• Offers a favorable taxation system for both individuals and businesses

Options for Residence Through Investment

Options for Residence in Hong Kong:

• The Quality Migrant Admission Scheme (QMAS): Aims to attract highly skilled or talented individuals to settle in Hong Kong and contribute to its economy.
• The Top Talent Pass Scheme (TTPS): Targets individuals with extensive work experience and strong academic qualifications worldwide to explore opportunities in Hong Kong.
• The General Employment Policy (GEP): Specifies entry requirements for individuals seeking professional employment in the HKSAR.
• Investment as Entrepreneurs: Allows individuals to enter or remain in the HKSAR by establishing or joining businesses as entrepreneurs under the General Employment Policy.
• The Capital Investment Entrant Scheme (CIES): Enables individuals to obtain residency by investing a minimum of HKD 30 million in Hong Kong.

The Quality Migrant Admission Scheme

The Quality Migrant Admission Scheme (QMAS) involves fulfilling a set of prerequisites before candidates are evaluated based on one of two points-based tests. Qualified individuals from the Talent List receive bonus points under the QMAS. These tests include:

• The General Points Test: Requires a passing score of 80/225 and assesses five categories: age, academic or professional qualifications, work experience, language proficiency, and family background.
• The Achievement-Based Points Test: Targets applicants who have received prestigious awards like Olympic medals or Nobel Prizes or have significant contributions to their field recognized by peers. Applicants meeting the criteria receive 225 points; otherwise, their application is rejected.

The Top Talent Pass Scheme

TTPS allows applicants to apply for residence if they meet the following criteria:

• Hold a bachelor’s degree from an eligible university.
• Have earned at least HKD 2.5 million in the year immediately preceding the date of application

The General Employment Policy

GEP allows applicants with specialized skills, knowledge, or experience not readily available in Hong Kong to work under certain conditions:

• The applicant holds a solid education background, typically a first degree in a relevant field of employment.
• A genuine job vacancy exists.
• The applicant has a confirmed offer of employment relevant to their academic qualifications or work experience, which cannot be filled by the local workforce.
• The remuneration package, including income, accommodation, medical benefits, or other fringe benefits, aligns broadly with prevailing market levels for professionals in Hong Kong.

Investment as Entrepreneurs:

Eligible applicants seeking to enter or remain in the HKSAR as entrepreneurs under the GEP must meet the following criteria:

Hold a solid educational background, typically a first degree in a relevant field.

Establish or join a start-up business, contributing significantly to Hong Kong’s economy. Factors considered include business plan, turnover, financial resources, local job creation, and introduction of new technology or skills.

Overseas Chinese nationals holding People’s Republic of China passports meeting the stipulated criteria, along with normal immigration requirements, may apply for HKSAR Investment as Entrepreneurs visas. The applicant must either have permanent residence overseas or have resided overseas for at least one year immediately before the application submission.

The Capital Investment Entrant Scheme (CIES):

Applicants meeting the following requirements may apply for residency in Hong Kong under the CIES:

• Invest a minimum of HKD 30 million in Hong Kong.
• Maintain the investment for at least seven years.
• Have net assets of not less than HKD 30 million in the two years preceding the application.

Procedures And Time Frame:

Applicants must submit all relevant application forms and supporting documents. Processing time typically ranges from one to nine months.

Approval of applications is at the discretion of the Immigration Department and is subject to government policy changes. The director of immigration reserves the right to refuse any application, even if eligibility criteria are met. Successful applicants are typically granted a limited extended stay of 24 months without additional conditions upon entry. Extension applications will be considered if applicants continue to meet eligibility criteria under entry for investment, QMAS, TTPS, GEP, or CIES.

Taxation In Hong Kong:

Taxation is based on a territorial source principle. Hong Kong companies are taxed only on profits sourced in Hong Kong, with a current tax rate of 17.5% on assessable profits. There are no withholding taxes on dividends or interest, and no taxes on capital gains. However, withholding tax on royalties applies at 5.25% and is imposed only on royalties paid to non-resident recipients not related to the payers.

Hong Kong companies are suitable for international trading or consulting activities without Hong Kong links, as they can be conducted tax-free. Similarly, real estate holding companies outside Hong Kong are tax-exempt. There is no capital gains tax, and dividends received or distributed by a Hong Kong company are also tax-free. The standard rate of profits tax applicable to Hong Kong-sourced income is competitive, at 16.5%.