“Of the 62,000 applicants who were approved under the Top Talent Pass Scheme, about 44,000 talented individuals arrived in Hong Kong,” stated Chris Sun, the president of the Secretary for Labor and Welfare in Hong Kong.
The goal of the Top Talent Pass Scheme (TTPS) is to draw elite talent to Hong Kong in order to spur additional development. This talent needs to have a large salary, excellent academic standing, and a wide range of professional experience. Candidates who meet the requirements need not already have jobs lined up in Hong Kong. To petition for an extension of stay before their visas expire, they must, however, be employed or have opened a business in Hong Kong.
Positive feedback has been received since the TTPS was introduced at the end of 2022. By the end of March this year, the Hong Kong government had received about 72,000 applications, of which nearly 59,000 were accepted. About 44,000 of these are talented individuals who arrived in Hong Kong (based on the most recent data, 62,000 out of 77,000 applications were accepted). Since last year, in addition to the applications that were accepted for other talent admission programs, about 108,000 talented individuals have visited Hong Kong.
WHAT DOES THE NUMBER OF 59,000 APPROVALS MEAN?
The number of approvals from January to November 2023 is displayed in the following data: 12,521 under the Quality Migrant Admission Scheme (QMAS), 18,232 under the Admission Scheme for Mainland Talents and Professionals (ASMTP), and 47,681 under the Top Talent Pass Scheme (TTPS). TTPS had an approval volume 2.6 times larger than ASMPT and 3.8 times higher than QMAS, according to the statistics.
But by the end of December 2023, TTPS cases had outperformed all earlier talent programs in Hong Kong, with a high success rate of 95% and only 5% of cases being rejected.
KEY HIGHLIGHTS OF THE TTPS:
1. Eligibility Criteria: Applicants under the TTPS are not required to have a job offer in Hong Kong upon application. There are three categories that are set by income and work experience qualifications, hence flexibility to accommodate all backgrounds.
Category A: High-income people making HK$2.5 million annually or equivalent.
Category B: Graduate from eligible universities with at least three years of work experience.
Category C: Fresh graduates with less than three years of work experience, subject to availability based on an annual quota.
2. Application Process: An applicant, if accepted, will normally be allowed an initial 24-month stay without additional conditions, provided they meet the normal immigration requirements and there are quotas available. This applies to Category C applicants.
3. Dependent Policy: Under the TTPS, a sponsor may apply to bring their spouse or unmarried Dependent children under 18 may be admitted to Hong Kong, subject to proof of genuine relationships and adequate capability of the principal applicant to support them.
4. Processing Time: The Immigration Department will try to process visa/entry permit applications within four weeks from the day of receiving all necessary documents. This ensures efficiency to applicants.
ADDITIONAL INFORMATION:
• Overseas Chinese Nationals: Besides, PRC passport holders who meet the above eligibility criteria may also apply if they are permanent residents or have resided outside Mainland China, HKSAR, Macao SAR, and Taiwan for at least one year prior to application.
• Updates and Changes: Kindly note that eligibility criteria and application procedures may be updated periodically without any prior notice. It is, therefore, of utmost importance to keep oneself updated from official channels regarding any changes.
HOW PRISM CONSULTANCY CAN HELP:
Here at Prism Consultancy, we understand how convoluted immigration can be in its procedure Maximize opportunities under the TTPS. We are one of the most experienced Hong Kong Visa Agents and Immigration Consultants, and we will definitely help you along this journey. Such services include the following:
1. Professional Advice: Our team gives personalized consultation regarding eligibility assessment under categories A, B, or C of the TTPS and ensures that you comply with the requirements for a successful application.
2. Application Management: Our professionals will assist you in applying for a visa/entry permit in the easiest and quickest way possible. Ensuring that all documents are well-prepared and forwarded to the Immigration Department, thereby reducing the time for processing.
3. Dependants and Family Support: We assist in preparing and submitting applications of
accompanying dependants. This also includes ensuring compliance with immigration policies and proving actual relationships.
4. Company Incorporation Services: Though an immigration consultancy, Prism Consultancy provides professional services for company incorporation in Hong Kong. This helps your business dreams and furthers your prospects in your career.
5. Continuous Support: Pre-Consultation to Post-Arrival Services—Prism Consultancy is dedicated to ongoing support and follow-up for an easy transition and settlement in Hong Kong.
REACH OUT TO PRISM CONSULTANCY:
For a more personalized approach and to understand in greater detail the services provided by Prism Consultancy in helping your migration through the TTPS, or any other professional services, log in to our website, or feel free to contact us directly.
We look forward to empowering you in seizing opportunities in Hong Kong under the Top Talent Pass Scheme and beyond.
