Top Talent Pass Scheme renewal

The Top Talent Pass Scheme (“TTPS”) was initiated by the Chief Executive of HKSAR in his 2022 Policy Address for an initial period of 2 years, aiming to entice talents to pursue their career in Hong Kong. Eligible talents are issued with 2-year visa, permitting them to explore opportunities, work, and reside in Hong Kong. Approximately 90,000 applications were received and more than 70,000 TTPS visa holders have already arrived in Hong Kong as of the end of June 2024 based on the source provided by Government of HKSAR.

Renewal requirement

Close to the end of that 2-year period, in general, TTPS visa holders can apply to extend their stay within 4 weeks prior to visa expiry. The success of a stay extension application depends on whether the eligible talent can meet the prevailing eligibility criteria, including having a secured employment offer (subject to further requirements), or producing proof that they have established or joined in business in Hong Kong etc. TTPS visa holders should be prepared for the enquiries from the Immigration Department to review the qualification and the employment condition or business operation. Collecting relevant supporting documents in advance, including employer sponsored information or proof of business in Hong Kong, is recommended.

Eligible talents should only work or do business in Hong Kong on the basis of a valid TTPS visa. If the renewed visa is not issued by the time the current visa expires, they should only resume work or do business in Hong Kong after the issuance of their renewed visa.

If a TTPS visa holder decides not to renew the existing TTPS visa, in future the TTPS visa holder cannot apply for a visa under TTPS again because this Scheme only permits an eligible talent to apply for it once. If they wish to return to Hong Kong for work or other long term purpose, relevant visa should be applied for and obtained prior to entry to Hong Kong, such as employment visa under General Employment Policy or Admission Scheme for Mainland Talents and Professionals, or Quality Migrant Admission Scheme.

Key considerations

Apart from preparation of the required documents (including employer sponsored information etc) to the Immigration Department for TTPS visa renewal, various aspects should be taken into account when an individual works/ does business in Hong Kong, below are some highlights for individual/employer’s consideration which may be applicable:

• tax obligations for both employers and employees
• individual tax implications in Hong Kong and home countries
• Mandatory Provident Fund (MPF) and home country pension/social securities
• tax and accounting obligations and other compliance requirements of business operators

From an individual perspective, in view of the potential complications on tax which may create potential double taxation, a detailed planning /revisit of employment structure, payroll, travel pattern etc. is recommended.

Tax Newsflash is published for the clients and professionals of Deloitte Touche Tohmatsu. The contents are of a general nature only. Readers are advised to consult their tax advisors before acting on any information contained in this newsletter.

If you have any questions, please contact our professionals:

Authors

Esti Chui
Director
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echui@deloitte.com.hk

Sophia Tsang
Manager
+852 2740 8887
stsang@deloitte.com.hk

Kevin Kong
Manager
+852 2238 7422
kekong@deloitte.com.hk

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National Leader
Maria Liang
Partner
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Hong Kong
Mona Mak
Partner
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monmak@deloitte.com.hk