Hong Kong’s Top Talent Pass Scheme: The New Visa Program’s Criteria and Benefits to Companies

Discover Hong Kong’s new visa program aimed at attracting global talent and learn how to navigate the application process effectively.

In the highly competitive landscape of global talent acquisition and retention, Hong Kong has launched a groundbreaking initiative to attract and retain top-tier professionals: the Top Talent Pass Scheme (TTPS). This visionary program aims to position Hong Kong as a leading international financial center and provide an appealing environment for talented individuals from around the world. With its proximity to mainland China and a pool of skilled professionals, Hong Kong continues to be an attractive destination for global businesses seeking a strong foothold in the region.

TTPS can be a game-changer for attracting new clients and supporting companies’ talent acquisition strategies.  The TTPS is a two-year work visa program introduced by Hong Kong, offering a unique opportunity for qualified individuals to work or seek opportunities in the city. Unlike traditional visa application processes, the TTPS provides flexibility and accessibility, making it highly attractive to skilled professionals and entrepreneurs seeking international opportunities.

To qualify for the TTPS, candidates must meet specific criteria.

1. 1. Category A: Annual salary of HKD 2,500,000 or higher
   2. Category B: Be a recent graduate from the world’s top 100 universities with at least three years of work experience over the past five years immediately preceding the date of application
   3. Category C: Have obtained a graduate degree from the world’s top 100 universities within the past five years immediately preceding the date of application, with less than three years of work experience, subject to an annual quota which is to be allotted on a first-come, first-served basis

Successful applicants and their dependents gain the advantage of working or establishing businesses in Hong Kong without the need for employer sponsorship or extensive business plans.

Hong Kong’s new visa program aims to attract highly skilled professionals from around the world by providing an efficient and streamlined pathway for talented individuals to live and work in the city. The program offers a range of benefits for individuals and businesses, including:

• Simplified visa application process
• Priority visa processing
• Access to a global business hub: Hong Kong provides access to a vibrant business environment, fostering innovation and collaboration.
• Strategic geographical location: Positioned as the gateway to Asia. Hong Kong offers opportunities to tap into various regional markets.
• Attractive tax regime: Hong Kong’s low and simple tax system provided financial benefits for individuals and businesses.
• High quality of life: Hong Kong offers a high standard of living, world-class education, healthcare facilities, and a cosmopolitan lifestyle.
• Professional growth and networking opportunities: Being part of Hong Kong’s diverse business community opens doors to networking and career advancement prospects.

With TTPS and Singapore’s work visa program, multinational corporations now have a wider array of options to navigate the Asia-Pacific market. This increased flexibility empowers companies to strategically align their talent mobility strategies, enabling seamless global operations and ambitious expansion plans.

The Top Talent Pass Scheme (TTPS) introduced by Hong Kong represents a significant opportunity for global companies to tap into a vibrant talent pool and establish a presence in the Asia-Pacific region. By embracing the TTPS and understanding the dynamics of the talent competition between Hong Kong and Singapore, companies can position themselves at the forefront of attracting and retaining top-tier professionals.

As a trusted partner in corporate relocation, MovePlus Mobility is committed to helping clients navigate the intricacies of the TTPS and other innovative visa programs worldwide. By leveraging our expertise and understanding the unique advantages of each location, we can assist companies in formulating comprehensive talent acquisition and relocation strategies that align with their global business objectives.

Partner with us today to explore strategies to increase your talent mobility into Hong Kong or any other city.

Email info@moveplusmobility.com to schedule your consultation today!