The Hong Kong Special Administrative Region (HKSAR) is one of the most cosmopolitan cities in the People’s Republic of China. Due to its global reputation and strong links to mainland China and the rest of the Asia-Pacific region, Hong Kong is a hub of global talents and expertise and a popular location for multinational companies’ regional headquarters or representative offices. Hong Kong has a very attractive taxation system. The income tax rates are low with no capital gains tax, no sales or value-added tax, no wealth or net worth tax, no tax on inheritance or gifts, no tax on interest income, and no withholding tax on dividends paid by Hong Kong companies.
HONG KONG
((Visa Programs))
VISA FREE DESTINATIONS:
171
PASSPORT INDEX RANK:
19th
OVERVIEW:
PROCEDURE:
Applicants must submit all the relevant application forms and supporting documents. An individual who has ordinarily resided in Hong Kong for a continuous period of no less than seven years before or after the establishment of the HKSAR is eligible to apply for Hong Kong permanent residence.
MINIMUM CAPITAL REQUIREMENT:
Minimum contribution of 30 million
MAIN APPLICANT REQUIREMENTS:
There are five options available to individuals applying for Hong Kong residence:
- The Quality Migrant Admission Scheme (QMAS)
- The Top Talent Pass Scheme (TTPS)
- The General Employment Policy (GEP)
- Investment as Entrepreneurs under the GEP
- The Capital Investment Entrant Scheme (CIES)
Under the QMAS, applicants are required to fulfill a set of prerequisites before they can be awarded points in one of the two points-based tests below:
- The General Points Test — Comprising five categories, namely age, academic or professional qualifications, work experience, language proficiency, and family background.
- The Achievement-Based Points Test — For applicants who have received an award of exceptional achievement (such as national or international awards), or who can show that their work has been acknowledged by their peers
Under the TTPS, applicants must:
- Have 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.
Under the GEP, applicants must:
- Have a good education background, normally a first degree in a relevant field of employment.
- Fill a genuine job vacancy.
- Have a confirmed offer of employment in a job relevant to the academic qualifications that cannot be taken up by the local workforce.
- Ensure the remuneration package is broadly commensurate with the prevailing market level for professionals in Hong Kong.
Under the Investment as Entrepreneurs category, applicants must:
- Have a good educational background, normally a first degree in a relevant field.
- Establish or join a start-up business.
- Be in a position to make a substantial contribution to Hong Kong’s economy, with consideration factors such as business turnover, number of jobs created locally, and introduction of new technology or skills.
Under the CIES, applicants must:
- Invest a minimum of HKD 30 million in the country.
- Maintain the investment for at least seven years.
- Have had net assets of not less than HKD 30 million in the two years preceding the date of application.
PROCESSING TIME:
1- 9 months
KEY BENEFITS:
- Straightforward, efficient residence program
- Well-established legal system based on common law and transparent regulations
- Strategic location and premier gateway for trade and investment to and from mainland China
- Freest economy in the world, with limited corporate and personal taxes
- World-class medical facilities and educational institutions
- Safe, convenient, and comfortable living environment for residents
