Hong Kong Policy Address 2024: The city seeks to attract "high-caliber talent" by expanding its Top Talent Scheme
14 November 2024 | Hong Kong
Hong Kong Policy Address 2024: The city seeks to attract "high-caliber talent" by expanding its Top Talent Scheme
In an effort to establish itself as a “global center for exceptional talent,” Hong Kong plans to include 13 mainland Chinese and foreign colleges in its Top Talent Pass Scheme.
Chief Executive John Lee said during the 2024 Policy Address Last October 16, 2024, that the program seeks to draw in individuals with an extensive range of professional experience and strong academic credentials.
According to the Hong Kong leader, the first visa for high-income talent under the program will now be available for three years instead of two, and the list will now consist of 198 universities.
Amid a wave of emigration, the Top Talent Pass Scheme was launched in December 2022 to draw more university graduates and high earners to the city. The government revived a suspended investment migration program and enlarged the Top Talent Pass Scheme in late 2023.
Over 380,000 applications have been received under the top talent plan thus far, according to Lee, who claimed on Wednesday that about 160,000 people have come to Hong Kong with their families.
The first benefit of being selected for the Top Talent Pass Scheme is a two-year work visa.
Furthermore, anyone participating in the program who makes at least HK$2 million is eligible for a six-year extension upon renewal.
In the face of a predicted 180,000 worker shortage across several sectors over the next five years, Hong Kong needs to establish a quality talent pool, the chief executive stated.
Lee promised to use the General Employment Policy and the Admission Scheme for Mainland Talents and Professionals to create new avenues for luring experienced specialists to certain skilled trades that are severely lacking in workers. He stated that a quota will be established under the agreement, but he gave no specifics.
Mainland Chinese & Overseas Universities added in TTPS
Mainland Chinese Schools:
- Sichuan University
- Southeast University
- Beihang University
- Beijing Institute of Technology
- Tongji University
- Renmin University of China
- Beijing Normal University
- Tianjin University
- Nankai University
International art and design schools:
- Royal College of Art
- University of Arts London
- Parsons School of Design, the New School
- Rhode Island School of Design
Hong Kong Non-local graduates
According to Chief Executive Lee, the city’s Immigration Arrangements for Non-local Graduates would continue to include graduates from Hong Kong universities’ Greater Bay Area (GBA) campuses for an additional two years.
Under this program, international students who have completed an undergraduate or graduate program in Hong Kong that is fully accredited locally may seek to remain or return to work in the city.
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