Hong Kong attracted nearly 2,000 professionals earning at least HK$10 million annually, figures for last year show
- Latest figures for Top Talent Pass Scheme show 46,497 applications approved in past financial year
- Influx of high-earners, many of whom will likely need teams of workers, could create more jobs, experts say
Nearly 2,000 professionals earning HK$10 million (US$1.27 million) or more a year successfully applied to move to Hong Kong under a government scheme to attract talent in the past 12 months, an influx experts said could create more job opportunities for all.
The Security Bureau told lawmakers on Wednesday 46,497 applications were approved under the Top Talent Pass Scheme in the 2023-24 financial year. Under one category of the scheme, candidates must have earned at least HK$2.5 million over the past 12 months to be eligible, and of the 11,779 people approved, 1,926 had made HK$10 million or more.
According to the bureau, 2,162 successful applicants had earned between HK$5 million and HK$10 million in the preceding year.
The government introduced the Top Talent Pass Scheme in December 2022 to lure more professionals to the city. Successful applicants are offered a two-year visa, which can only be extended if the holders are employed or set up a business in Hong Kong.
The scheme is also open to graduates from the world’s top universities as selected by authorities who have been working for three of the past five years. Those graduates with less than three years of experience can also apply, but the number accepted is capped at 10,000 annually.
