The HKSAR government launched the Top Talent Pass Scheme in 2022. The Labour and Welfare Bureau announced yesterday (Aug. 15) that as of the end of last month, the stay periods of nearly 14,000 top talents had expired, of whom nearly 7,400 had applied for extensions, representing a rate of 54%. Including those whose visas/entry permits were due to expire within three months, a total of 9,699 individuals had applied for extensions. The Immigration Department had processed 9,044 applications, with 8,511 approved, representing an approval rate of about 94%.
Secretary for Labour and Welfare Chris Sun stated that the scheme is estimated to bring an annual direct economic contribution of approximately HK$34 billion to Hong Kong, equivalent to about 1.2% of the local GDP. He also revealed that the median monthly salary of top talents approved for extensions was about HK$40,000, with about 10% earning at least HK$120,000 per month, and some even earning up to HK$300,000 per month, reflecting their strong competitiveness in the market.
"These top talents bring consumption power and tax contributions to Hong Kong, injecting real momentum into the economy," he said.
The Top Talent Pass Scheme was launched at the end of 2022, allowing high-income individuals and graduates from designated universities to apply for visas to come to Hong Kong without needing a prior job offer. The scheme has seen an enthusiastic response, with nearly 140,000 applications received as of the end of last month, of which about 110,000 were approved, and over 90,000 top talents have arrived in Hong Kong.
During the same period, the stay periods of 13,678 top talents had expired, with 7,394 applying for extensions. Including those whose visas/entry permits were due to expire within three months and applied early, nearly 9,700 individuals had applied for extensions.
Sun expressed satisfaction yesterday with the extension rate exceeding 50%, stating, "This means one out of every two individuals chooses to stay in Hong Kong for development." He noted that the UK has a similar visa targeting university students, requiring applicants to graduate from a top 50 global university, with about 46% choosing to stay in the UK for further development. "By comparison, Hong Kong's Top Talent Pass Scheme performs slightly better."
Most rejections due to incomplete documentation
Regarding the small number of top talents whose extension applications were rejected, Assistant Director of Immigration (Visa and Policy) Yung Wing-chun explained that there was no detailed classification of rejection reasons, but most cases were due to incomplete documentation or applicants failing to submit additional required documents. "There are also top talents working in commission-based industries such as insurance who were unable to prove stable income during their stay in Hong Kong, leading to their applications being rejected," he said.
As of the end of last month, 46% of those whose visas/entry permits had expired chose not to apply for extensions. Sun noted that the Top Talent Pass Scheme allows approved individuals to come to Hong Kong first and then look for jobs or start businesses, describing it as a "mutual selection process" between Hong Kong and the top talents. Even those who chose to leave had contributed to consumption during their stay, so "there is no loss even if they are not retained."
At the same time, the scheme continues to attract outstanding talents to settle in Hong Kong, gradually becoming an important new force in the city's social and economic development, effectively filling gaps in population and human resources while providing sustained momentum for economic growth.
Median monthly salary of extended top talents: HK$40,000
Data shows that top talents approved for extensions generally have substantial and competitive income levels, with a median monthly salary of about HK$40,000. About 25% earn HK$80,000 per month, around 10% earn HK$120,000, and the top 1% earn HK$300,000 or more. Sun pointed out that based on extension data and surveys, the Top Talent Pass Scheme is estimated to bring an annual direct economic contribution of about HK$34 billion to Hong Kong, equivalent to approximately 1.2% of the local GDP.
He stated that the HKSAR government will continue to closely monitor the extension applications under various talent admission schemes while continuously refining the details of the programs and considering their impact on Hong Kong society, aiming to attract suitable talents to settle in the city. The Hong Kong Talent Engage office will also provide one-stop support services to assist incoming talents in settling down and integrating into the community.
DAB spokesperson on talent development and Legislative Council member Frankie Ngan noted that the Top Talent Pass Scheme attracts global talents to develop in Hong Kong, and the extension situation directly reflects whether these talents have successfully integrated into the city.
"Those who extend their stay have established stable career foundations and adapted to local life, while those who do not apply or are rejected indicate they have not fully put down roots in Hong Kong."
He was pleased to see the smooth progress of the first batch of extensions, stating that the results would serve as a key indicator of the talent policy's effectiveness. He added that he agreed with and welcomed the Labour and Welfare Bureau's efforts to strengthen anti-fraud awareness for talents, with the Hong Kong Talent Engage actively safeguarding their rights. He suggested further expanding publicity coverage and providing localized support based on community needs to ensure talents can settle and thrive in Hong Kong.
(Source: Wen Wei Po; Journalist: Wu Jianyi; English Editor: Darius)
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