Hong Kong Tax Newsflash

On 28 December 2022, a new program, "Top Talent Pass Scheme" ("TTPS"), has been launched for online application.

Attracting talent

Persons who wish to apply to enter Hong Kong under the TTPS are not required to have secured an offer of employment in Hong Kong upon application. Applicants may choose to apply for the TTPS under one of the categories as listed in paragraphs (a) to (c) below:

a) persons with annual income reaching HKD2.5 million or above, or its equivalent in foreign currency, in the year immediately preceding the date of application (Category A);

b) degree graduates of the world's top 100 universities1 with at least three years of work experience over the past five years immediately preceding the date of application (Category B); or

c) 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 (Category C).

It normally takes four weeks to process visa/entry permit applications under the TTPS upon receipt of all the required documents. Successful TTPS applicant will normally be granted an initial stay of 24 months on time limitation only without other conditions of stay. Each applicant can only be granted such initial stay once.

The TTPS does not apply to nationals of Afghanistan, Cuba, Laos, Korea (Democratic People's Republic of), Nepal and Vietnam.

_{¹ The world’s top 100 universities refer to those universities/institutions on the aggregate list of world’s top 100 universities (hereafter “the aggregate list”), which is compiled by the Labour and Welfare Bureau. The aggregate list is based on the top 100 universities/institutions in four designated world university rankings in the past 5 years, namely Times Higher Education World University Rankings, Quacquarelli Symonds (QS) World University Rankings, U.S. News and World Report’s Best Global Universities Rankings and Shanghai Jiao Tong University Academic Ranking of World Universities.  For the avoidance of doubt, the academic qualifications obtained from the continuing and professional education arms, the branch schools, the extension schools or the subsidiary schools, etc., established by the world’s top 100 universities will not be accepted.}

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:

Maria Liang
Tax Partner
+86 21 6141 1059
mliang@deloitte.com.cn

Mona Mak
Tax Partner
+852 2852 1051
monmak@deloitte.com.hk

Esti Chui
Tax Director
+852 2852 5682
echui@deloitte.com.hk