When Hong Kong launched the TTPS, it stated that the original intention of the TTPS was to attract high-end talents with rich work experience and high academic qualifications from all over the world to explore opportunities in Hong Kong, including high-income individuals and graduates of the world's top universities. In other words, the Hong Kong government hopes to attract more talents to work in Hong Kong and "put down roots". Because of this, the TTP renewal requirement requires that the applicant must have been employed by a Hong Kong company at the time of submitting the renewal application.
However, at present, it has been implemented for more than a year, and there are still many partners who have various questions about the renewal of Gaocaitong, and they are not sure how to start planning the renewal. Therefore, today AI Jun will come to talk to you about the renewal of Gao Caitong.
1. What are the ways to renew the Talent?
At present, there are two main ways to renew TTPS, one is to be employed by a Hong Kong company, and the other is to start a business in Hong Kong and be self-employed.
2. What is the appropriate salary requirement?
According to a survey conducted by the Labour and Welfare Bureau on the first batch of highly talented inbound persons in Hong Kong, the median monthly employment income of employed TTPs is about $50,000, and about 25% of them have a monthly employment income of $100,000 or above, and about 10% have a monthly employment income of $200,000 or above, which is significantly higher than the median monthly employment income of HKCTPs ($20,000).
Therefore, when choosing a job, you should pay attention to the fact that the job you are engaged in in Hong Kong should match your high-level status, and the salary should not be too low, at least on the same level as the average salary level of the relevant position in the Hong Kong market.
3. Can I renew my contract with a company?
AI Jun must once again remind your friends that you must not listen to the misleading of some online platforms and arrange affiliated work! According to the relevant ordinances of Hong Kong, any person who makes a false representation to an immigration officer commits an offence. Upon prosecution, the offender's previously issued visas will be invalid and the maximum penalty upon conviction is a fine of HK$150,000 and imprisonment for 14 years.
4. Are there any industry restrictions on the work you are renewing?
The Hong Kong government does not have too strict industry restrictions on the work of high-level talents in Hong Kong, the focus is on the need to contribute to Hong Kong, and it is recommended to match the undergraduate major, the span should not be too large, and the principle of "talent" entry must be met.
5. Can I be assigned to work?
If the applicant is employed by a Hong Kong company, the visa can be renewed if the applicant is assigned to work elsewhere. When renewing the visa, the Immigration Department will check whether the applicant's payroll, MPF payment and tax return in Hong Kong are normal.
6. What are the requirements for starting a company?
The Immigration Department has no mandatory requirements for the registered capital, office address and number of employees of the applicant, but the company needs to have substantial operations, such as an office and tax filing, and the business must be reasonable, sustainable and contribute to the economic development of Hong Kong, and cannot be a shell company, otherwise it will be difficult to obtain approval for renewal.
7. If I fail to renew my visa for a gifted pass, can I apply for a second time?
No, it is not allowed to apply for a second time after the high-level talent is terminated, and once the high-level talent fails to renew, it means that the opportunity to apply for the high-level talent is lost forever. Therefore, after the partners are approved for the high-level talent pass, they must complete the work plan as soon as possible within the two-year visa period.
The above are some of the main issues that you need to pay attention to when renewing your high-tech pass. If you want to obtain Hong Kong status but don't want to be restricted by the hard rules of your job, then it is a good choice to consider applying for QMAS if you are eligible.