The Top Talent Pass Scheme (“TTPS”) announced in the 2022 Policy Policy Address1 delivered by Hong Kong’s Chief Executive launched on 28 December 2022.1 The scheme is broadly available to eligible nationals from many countries and offers a new path to Hong Kong to live and work.
The key details are summarised in this GMS Flash Alert.
WHY THIS MATTERS
This scheme opens a new, flexible door to welcoming international talent who may be interested in working in Hong Kong or establishing a business in Hong Kong, without the need to secure employment or to provide a business plan upon application.
More Details
Eligibility Criteria
TTPS is open to all nationals except those of Afghanistan, Cuba, Laos, Korea (Democratic People’s Republic of), Nepal, and Vietnam. Applicants may apply under one of the categories below and are not required to have secured an offer of employment in Hong Kong upon application:
A. Persons with taxable annual employment or business income reaching HK$2.5 million or above in the past year;
B. Degreed graduates of the world’s top 100 universities with at least three years of work experience over the past five years;
C. Degree graduates of the world’s top 100 universities in the past five years with less than three years of work experience, subject to an annual quota of 10,000 (not applicable for those who obtained their undergraduate qualifications in a full-time and locally-accredited programme in Hong Kong).
Applicants can also apply for dependent visas for their family members, which will allow them to stay, study, and work in Hong Kong.
Limit of Stay
Successful applicants will be granted 24 months’ stay and are free to take up and change employment or to establish or join in business in Hong Kong during their permitted stay.
Processing Time
Processing times of four weeks are expected. Applications can be submitted online.
Extension of Stay
Upon applying for an extension, applicants are required to have secured an offer of employment in Hong Kong. For those who have established or joined in business, they are required to provide proof. Three-year extensions will be granted onwards for successful applicants.
KPMG INSIGHTS
TTPS is one of the many new measures announced by the HKSAR government to attract talent to Hong Kong. This scheme is expected to be popular since no sponsorship from an employer is needed upon application.
If individuals have questions regarding their eligibility, the conditions for making an application, and what kinds of supporting documentation are required, they should contact their qualified immigration counsel or a member of the Immigration team with KPMG in Hong Kong (see the below Contact Us section).
FOOTNOTES
1 For information on Hong Kong's Top Talent Pass Scheme, including a "Frequently Asked Questions" (in English), see: https://www.immd.gov.hk/eng/services/visas/TTPS.html .
* Please note the KPMG International member firm in the United States does not provide immigration or labour law services. However, KPMG Law LLP in Canada can assist clients with U.S. immigration matters.
The information contained in this newsletter was submitted by the KPMG International member firm in Hong Kong.
RELATED RESOURCE
This article is excerpted, with permission, from "Trawl for Talents: 2022 Policy Address" in People Services Alert, a publication of the KPMG International member firm in Hong Kong.
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