Tax News Update    Email this document    Print this document  

October 25, 2022
2022-1619

Hong Kong announces new immigration policies to attract overseas and mainland Chinese talent

On October 19, the Hong Kong Chief Executive announced plans to introduce several changes to local immigration policies, including the creation of a new pass for top talent, and a relaxation of existing visa programs and the rules governing the entry of short-term business visitors. While further details are expected to be released in the coming months, currently there are no indications as to when the changes and the new Scheme will be implemented. The upcoming changes in Hong Kong’s immigration policies are expected to stimulate the local economy and empower local employers to attract overseas and mainland Chinese talent and foreign direct investment.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

———————————————
ATTACHMENT

Full text of Tax Alert

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement