Planning to go overseas? You can include Hong Kong in the list if you haven’t yet. Hong Kong’s leader on Wednesday announced a new visa scheme. The new Top Talent Pass Scheme will offer a set of talents the opportunity to work and explore opportunities in the city for about two years. The new scheme comes amid a brain drain. Keep reading to know if you can pass the needed qualifications.
A New Visa Scheme By Hong Kong
John Lee, Chief Executive informed that all the people who earn 2.5 million Hong Kong dollars annually or more as well as the world’s top universities graduates can apply for this visa. The city’s status as an international financial centre has been compromised amid a brain drain. Lee, while addressing this policy, said that they have to be more active and aggressive while competing for talent and enterprises. Their aim is to retain their local talent as well as invite world talent. The city has its own economy and legal status, but many people have left the city in the last few years. The city’s workforce has decreased by 1,40,000 people in the last two years.
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Streamlining Processes For Companies
The main reason behind people leaving the city was its coronavirus restrictions that pulled the economy down. Lee announced proposals that included tax rebates and relaxed conditions on hiring foreigners. A partial refund on stamp duty will be offered to all foreigners buying new homes in the city. This will be offered on their first purchase after becoming permanent residents. The government will also talk to the companies about the process of hiring professionals. A new task force will also be set up for companies to come up with recruitment strategies. Lee said that they will make sure they extend all their support to the newcomers.
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Cover Image Courtesy: Instagram/Hong Kong