With the unique fusion of Chinese and Western cultures and the world-class international environment, Hong Kong has long been a preferred location for immigrants, attracting talents and newcomers from all over the world every year. Despite a notable shift in its inbound and outbound migration trends in past few years, Hong Kong remains one of the most popular cities in the world for talents and professionals. Additionally, several immigration policies implemented by the Government of the Hong Kong Special Administrative Region (SAR) are attracting talents from all over the world and enhancing Hong Kong’s competitiveness.

The major reasons for people migrating to Hong Kong and obtaining residency are related to the Hong Kong’s core competencies as below:

1. Superior Location

Hong Kong is located at the heart of Asia, serving as an external window for enterprises in Mainland China towards the rest of the world.  It serves as a hub for financial, trading, shipping and aviation, which connects Mainland China with other markets around the world. Furthermore, this geographical advantage makes Hong Kong an ideal base for businesses and talents to enter the Southeast Asia market.

2. International Financial Hub and Well-Developed Infrastructure

As a global financial center, Hong Kong has a highly international and diversified working environment. Many multinational companies have established offices or headquarters here, offering numerous international career opportunities. The multicultural working environment is highly attractive to those who wish to develop their career on the global stage.

Apart from the financial sector, Hong Kong has well developed transportation, utility, telecommunication and legal systems. The government is known for its efficiency and simplified procedures for companies, such as company registration, license application, copy right, taxation system, etc. These factors help reduce the burden to develop and operate businesses in Hong Kong and provide many opportunities for both businesses and individuals.

3. Low Tax Rate

Comparing to the complex tax regimes in other countries, Hong Kong's tax system is renowned for its simplicity and transparency. This makes Hong Kong an attractive destination for individuals and businesses.  There are only three main types of taxes on income derived by individuals in Hong Kong: income tax, profits tax and property tax. The standard income tax for individuals is capped at 16%, while the standard corporate tax rate in Hong Kong is 16.5%. In Hong Kong, there is no value-added tax or sales tax, no capital gains tax, no withholding tax on dividends and interest, and no estate duty.

In contrast, in the United Kingdom, the personal income tax has progressive rates up to 45%, and the corporate tax rate is 25%. In the United States, the personal progressive income tax rate ranges from 10% to 37% while the corporate tax rate is 21%.

The low tax rate and simple tax system benefit both business owners and individuals. The government provides incentives to support new businesses and simplified procedures for talents to work in Hong Kong. Moreover, they update policies periodically to cope with global market changes and maintain the city’s competitiveness and attractiveness to talents from all over the world.

4. High Quality of Life

Hong Kong offers immigrants a prime standard of living, including quality healthcare, efficient infrastructure and a rich cultural programme. Hong Kong has an international reputation for the high quality of its medical services, with access to state-of-the-art treatments and medications. With its unique fusion of Eastern and Western cultures, Hong Kong also offers a diverse range of cultural activities, including festivals, museums, theatres, and culinary experiences. Due to its natural topography, Hong Kong further offers exquisite beaches and hilly to mountainous trails for nature lovers and hikers, all packed within an area of 1,106 km2. Moreover, Hong Kong has a low crime rate and world-class of education. These factors make Hong Kong an attractive destination for people from all over the world.

Immigration Policies under GEP and ASMTP Scheme

Hong Kong's diverse immigration policies offer many options for interested individuals and professionals. Below are the highlights of Hong Kong’s most common employment visas which attract many professionals and talents to Hong Kong every year.

GEP and ASMTP Scheme

General Employment Policy (GEP) and the Admission Scheme for Mainland Talents and professionals (ASMTP) are quota-free and non-sector specific streams for individuals seeking to reside in Hong Kong for employment as skilled professionals. GEP and ASMTP follow a 3+3+2 years’ pattern for visa duration.

Eligibility Criteria

An application for a visa/entry permit to take up employment under both GEP and ASMTP should meet the following criteria:

1. There is no security objection and no known record of serious crime in respect of the applicant.

2. The applicant has a good education background, normally a first degree in the relevant field, but in special circumstances, good technical qualifications, proven professional abilities and/or relevant experience and achievements supported by documentary evidence may also be accepted.

3. There is a genuine job vacancy.

4. The applicant must have been offered employment by a Hong Kong company and the position must be commensurate with the applicant's professional skills.

5. The applicant’s salary and benefits should be commensurate with the market level in Hong Kong to ensure fair competition.

Catering to Different Groups

The GEP primarily targets foreign professionals, while the ASMTP is specifically designed for professionals from Mainland China, excluding overseas Chinese. Both entry arrangements do not apply to nationals of Afghanistan, Cube Cuba and North Korea (Democratic People’s Republic of Korea).

Tips for applying for an employment visa in Hong Kong

1. Securing a Job Offer: Obtaining a job offer from a Hong Kong employer is essential for the application. The employer acts as the visa sponsor, handling most of the application process and providing necessary documentation. This includes the job description and hiring justification, both highlighting the importance of the role and demonstrating the need for a non-local hire to the authorities.

2. Creating a Checklist: It is advisable to list all required documents, checking off each item as you complete it to ensure everything is in place. The list should include but not limited to copies of your valid passport, signed employment contract, academic qualifications and past work experience and employment certificates.

3. Completeness and Accuracy of Information in Application Form: Ensuring the completeness and accuracy of information on the application form is crucial. Any omissions or false information, for example, deliberate concealment of past convictions or visa refusals can lead to rejection of an employment visa application. Applicants and sponsoring companies should carefully read the application guidelines provided by the Immigration Department to avoid mistakes or omissions.

Conclusion

Hong Kong’s various immigration policies are strategically designed to attract global talent and enhance the city’s competitiveness. Among these, the General Employment Policy (GEP) and the Admission Scheme for Mainland Talents and Professionals (ASMTP) have brought many highly skilled individuals to Hong Kong. These policies not only attract diverse talents but also promote innovation and economic growth, making Hong Kong a vibrant and appealing destination for immigrants.

Reference:

1. InvestHK. (2021, August 31). Low, Simple and Competitive Tax System. Low, Simple and Competitive Tax System. https://www.investhk.gov.hk/en/why-hong-kong/low-simple-and-competitive-tax-system/

2. Financial Services and the Treasury Bureau : Index. (n.d.). https://www.fstb.gov.hk/en/index.html

3. Government Digital Service. (2024, November 7). Income Tax rates and Personal Allowances. GOV.UK. https://www.gov.uk/income-tax-rates

4. General Employment Policy (GEP) | Immigration Department. (n.d.). https://www.immd.gov.hk/eng/services/visas/GEP.html

5. Admission Scheme for Mainland Talents and Professionals (ASMTP) | Immigration Department. (n.d.). https://www.immd.gov.hk/eng/services/visas/ASMTP.html

Related Topics:

HK | Navigating Your Path to Hong Kong (Part I): Tips for GEP and ASMTP Success

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