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Professionals recruited through the Hong Kong top talent pass scheme earning median of HK$50,000 a month

  • John Lee, the leader of the city, adds that the Top Talent Pass Scheme is believed to have boosted the economy by HK$34 billion, or 1.2% of GDP.
  • Since its introduction a year ago, the program has received about 70,000 applications, of which nearly 79% have been approved, according to Lee.

According to the leader of the city, professionals hired under Hong Kong’s top talent admission program make an average monthly salary of HK$50,000 (US$6,390), more than twice as much as residents do. These professionals also contribute 1.2% of the city’s GDP. 

According to Chief Executive John Lee Ka-chiu, the HK$2.84 trillion economy benefited by an estimated HK$34 billion from the Top Talent Pass Scheme, which his administration implemented in December 2022 to combat a wave of emigration and promote growth.

“That’s equivalent to 1.2 per cent of our GDP,” he said.

Lee added that since the program’s inception, almost 70,000 applications have been received, of which approximately 79% have been approved and 73% have already arrived. Nearly 90% of the skilled individuals originated from China’s mainland.

“The heartening outcome shows that the scheme, which has just entered its first anniversary, has made significant contributions to expanding Hong Kong’s high-quality talent pool,” he said.

The majority of the recent new arrivals were assuming managerial and highly skilled service roles, with a median monthly salary of HK$50,000, according to Lee, who cited a survey done in November by the Labour and Welfare Bureau. He said that a fifth of them earned more than HK$100,000 per month.

Data from the third quarter of last year indicated that the median monthly wage in Hong Kong was HK$20,500.

According to Labour and Welfare Secretary Chris Sun Yuk-han, the survey interviewed nearly 2,000 applicants and their wives who had been in Hong Kong for more than six months.

“The Top Talent Pass Scheme has achieved initial success, attracting many high-quality talented professionals to settle in Hong Kong,” Sun said. “The next step is to retain these talents and enhance competitiveness.”

The minister promised to provide the newcomers with more thorough, one-stop assistance, encompassing information on housing, children’s schooling, entrepreneurship support, and Cantonese study.

Since the end of 2022, over 240,000 applications had been submitted to all of the schemes combined, of which approximately 140,000 had been approved.

In 2023, almost 90,000 professionals came in Hong Kong, which is about three times the yearly goal for all of the programs combined.

To Learn more about TTPS & want help applying to the scheme, Contact us today!

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