October 25, 2022
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.
Full text of Tax Alert