The Hong Kong government has launched a new talent scheme that will allow professionals and those with good academic background to stay in the city for two years and decide whether they will find a job or start a business there.
In an interview with CNN Philippines, Hong Kong Secretary for Labor and Welfare Chris Sun said that the Top Talent Pass Scheme aims to bring in more talents from different parts of the world to one of Asia’s financial centers.
Sun added Hong Kong experienced a decline in foreign professionals due to the impact of the COVID-19 pandemic.
“We are urgently in need having more talents all over the world coming to Hong Kong, there will be no quota and the more the merrier,” said Sun.
Those who want to avail of the scheme have to meet at least one of these criteria:
— Persons with annual income reaching HK$2.5 million or above, or its equivalent in foreign currency
— Degree graduates of the world’s top 100 universities with at least three years of work experience over the past five years immediately preceding the date of application
— Degree graduates of the world’s top 100 universities in the past five years immediately preceding the date of application with less than three years of work experience, subject to an annual quota which is to be allotted on a first-come, first-served basis
A qualified applicant will also have better chances of becoming a Hong Kong resident, according to Sun.
“The meaning of the pass is you don’t need a job before hand and no other conditions attached to your permit. So they can come to Hong Kong and stay in Hong Kong for two years. This will be an initial two years and if he stays on he can either find a job or stay in business,” he said.
An individual may extend their permit for another three or six years and could lead to permanent resident status. Sun said Filipinos are welcome to apply since it is available online.
“All the applications will be handled as soon as possible, you should get a result in days since we’re only using an online scheme,” he added.
If an applicant is not qualified for the top talent scheme, Sun said Filipinos can explore other options.
General employment program
Hong Kong is giving priority employment under their General Employment Program to at least 11 skills.
Here’s the list of the skills needed in Hong Kong:
Waste Treatment Specialist
Asset Management Professionals
Marine Insurance Professionals
Actuaries
Fintech professionals
Data Scientists and Cyber Security specialists
Innovation and technology experts
Naval Architects
Marine Engineers and Superintendents of Ships
Creative Industries Professionals
Dispute Resolution Professionals and Transactional Lawyers
“Both Hong Kong and Philippines finally opened up, we are ready to welcome in the Philippines,” Sun said. “This will create a lot of business opportunities. Apart from that, given the COVID restrictions behind us and all measures to attract talents, we expect a quite strong economic rebound,” Sun said.
Source : CNN Philippines
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