The Government of Hong Kong is increasing its efforts to attract foreign talent, including the mainland China’s professionals, as working population of the city is supposed to get shrink in the year 2018.
The Immigration Director, Chan Kwok-ki said that the government is going to relax the visa rules for overseas and professionals of mainland working in Hong Kong. Those coming to Hong Kong under the admission scheme and Policy for General Employment for the professionals and talents of Mainland shall be allowed to live for two-year period of time, instead of one year, when they arrived in the SAR.
Foreign professionals who come to the city under these two schemes and who earns HK $2 million annual salary or more would be eligible of getting six-year visas. Said Mr. Chan.
Chan also said that the government has also started a new scheme in May and it’s appealing to the foreign-born children of permanent residents of the Hong Kong to return back to the SAR. There are 10,000 foreign students mostly mainland students who pursue education in higher education institutions of Hong Kong, each year reside even after their studies. The government is hoping that the foreign students can stay for a longer period of time in Hong Kong. Chan added.
These measures were planned to maintain the work force of the city which is facing low birthrate, the expectancy of longer life and a population of aged people. The Department of Labour and Welfare said that previous year it was expected that the working population of the city will decrease from the year 2018 and will shrink to 3.5 million which is currently 3.8 million, by the year 2038.
Meanwhile, the scheme of Capital Investment Applicant will continue to remain suspended, with an almost excess of 13,000 applications are still in the process.