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posted 2 years ago
By Rossana Chu, Jacky Chan:
Hong Kong’s Chief Executive, Mr. John Lee, set out plans to strengthen Hong Kong’s competitiveness in attracting enterprises and talents in his policy address[1] which include the Top Talent Pass Scheme, setting up the Office for Attracting Strategic Enterprises and measures to expand the city’s workforce. We will introduce some of such initiatives and also suggest the employment issues that may arise.
Top Talent Pass Scheme (TTPS)[2]
The TTPS seeks to attract top talents with good academic qualifications and/or rich work experience from all over the world to explore opportunities in Hong Kong. Applicants are not required to have secured an offer of employment in Hong Kong before making the applications. Persons admitted under the TTPS are granted 24 months’ stay in Hong Kong without other conditions and are free to take up and change employment during their permitted stay without having to seek prior approval from the Immigration Department.
An applicant may apply for the TTPS under one of the following conditions:
Other talent recruitment measures
It is estimated that Hong Kong workforce has shrank by about 140,000 in the past two years. Apart from retaining and developing local people, the government is proactively recruiting globally.
The following are some measures being pursued: [3]
Office for Attracting Strategic Enterprises (OASES)[5]
OASES is led by the Financial Secretary with a mission to attract representative and high-potential strategic enterprises from around the globe. The office will:
It is commonly believed that the target industries may include life and health technology, artificial intelligence, data science, financial technology, advanced manufacturing, new materials and new-energy technology.[6]
Employment issues
When the talent attraction measures are being implemented, employers will have to take extra care of employment issues, such as compensation difference, fair treatment, diversity and staff morale.
The employer may have to plan ahead of the compensation policy to achieve at least two objectives – to offer an attractive package to the non-Hong Kong candidate and to avoid the local staff members being undermined, especially when the compensation or fringe benefits vary for these two groups of employees of the same rank. It is not uncommon for employer to give READ FULL ARTICLE
Note: This material has been prepared for general information purposes only and is not intended to be relied upon as professional advice for any cases. Should you need further information or legal advice, please contact us.
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[1] https://www.policyaddress.gov.hk/2022/en/index.html
[2] https://www.immd.gov.hk/eng/faq/TTPS.html
[3] https://www.policyaddress.gov.hk/2022/en/p29.html
[4] https://www.immd.gov.hk/eng/services/visas/IANG.html
[5] https://www.oases.gov.hk/en/about-oases.html
[6] https://www.info.gov.hk/gia/general/202212/23/P2022122300699.htm?fontSize=1
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