On August 11, the Legislative Council of Macau, China passed the "Legal System for Talent Introduction" bill.
There are three categories of talents who can apply to immigrate to Macau. They usually live for 7 years and can become permanent residents.
What is the attractiveness of the latest Macau Talent Entry Scheme?
What are the similarities and differences compared with the Hong Kong Talent Admission Scheme?
01
Macao launches three types of talent introduction programs
Macau
High-end talent plan
This program aims to introduce individuals with outstanding talent or technical ability, who have achieved internationally recognized outstanding achievements or made significant contributions in a specific field.
Such as Nobel Prize winners, Olympic champions, national academicians, etc., there is no quota for this category, and the SAR government strongly welcomes relevant persons.
This category is similar to the "Achievement Points System" in the Hong Kong Quality Migrant Admission Scheme.
Macau
Excellent Talent Program
This program aims to introduce people who are conducive to the moderate diversification of Macao's economy, who can promote the development of key industries, have professional experience and technical capabilities, and excel in their professions or industries.
This category implements a quota system and competes for quotas based on scoring results. The first stage mainly introduces talents from the following four industries:
1. Big health
Hengqin's advantageous industries include traditional Chinese medicine industry, big health products
2. Modern Finance
Macau plans to prepare for the ASX, which needs a large number of financial talents
3. High-tech
High-tech industries centered on chips and semiconductors, etc.
4. Culture and sports
Enjoy the dividends brought by the highly developed tourism industry, and a duty-free island will be built in the future
Macau
Advanced Professionals Program
This plan aims to introduce professionals with professional experience and skills who can support the development of key industries in Macao, or make up for the development needs, which are in short supply.
This category is similar to Hong Kong’s “Mainland Talent Import Scheme”. Applicants must be employed by a local employer in Macau and have a job with a previous background.
This category is also open to talents in the above four industries, implements a quota system, and competes for quotas based on the scoring results.
02
Hong Kong vs Macau Talent Admission Scheme
Macau
time
Hongkong:
Take the Excellent Talents Entry Program as an example, which was opened in 2006 and has continued to operate for 16 years.
Macao:
It will be open to the public for consultation from November 2021, and the bill will be formally established on August 11, 2022, and the follow-up details will be announced.
Macau
industry
Hongkong:
We welcome outstanding talents from all walks of life to come to Hong Kong for construction and development, and focus on attracting financial and technological innovation talents; those who meet the list of 13 types of talents in the Talent Entry Scheme will receive additional points.
Macao:
Four major industries are initially limited: big health, modern finance, high-tech, cultural and sports industry talents
Macau
Quota
Hongkong:
The annual quota for the entry plan for outstanding talents is 4,000, or it may increase to 8,000; there is no quota limit for the entry plan for mainland talents.
Macao:
There is no quota limit for the high-end talent plan; there are quotas for the excellent talent plan and the senior professional talent plan.
Macau
Review process
Hongkong:
Assessment by Immigration Department + Gifted and Talented Committee
Macao:
Public Security Police Force + Talent Development Committee and Talent Introduction Evaluation Committee Comprehensive Evaluation + Special Administrative Region Chief Executive
Macau
visa period
Hongkong:
First-time entry allowed to stay in Hong Kong for 2 years
Macao:
First-time entry allowed to stay in Australia for 3 years
Common ground:
Usually live in the local area continuously for 7 years to obtain permanent residence status and SAR passport
High-end talents and outstanding talents do not need to ordinarily reside in Australia, they can also renew their residence visas or obtain non-permanent resident identity cards;
However, to become a permanent resident, you must have ordinarily resided in Australia for seven consecutive years or more. If the renewal requirements are not met, there will be an exit mechanism.
Resident visa applications for all three categories of talent can benefit eligible family members.
In addition, relevant talents can also enjoy tax incentives:
Talents themselves or companies that directly hold more than 50% of their shares: enjoy the reduction and exemption of property transfer stamp tax, urban housing tax, and income supplementary tax for the purchase of business premises.
Talents who serve employers in Macau: they can get preferential tax on occupational tax.
Various tax rates in Macau are relatively low. After obtaining permanent resident status, you can simultaneously enjoy a series of tax benefits specially provided for Hong Kong and Macau residents in the Greater Bay Area, which is conducive to asset allocation, tax planning, and business operations.
03
Quick Facts About Macau Permanent Resident Status Benefits
Like Hong Kong, with permanent residency in Macau, you can also enjoy a series of welfare policies:
1. Retirement
Respect for old age pension, provident fund and other pension benefits, complete medical facilities and equipment
2. Children's education
Fifteen years of free Chinese and English education, high school graduates can participate in the joint entrance examination for overseas Chinese students from Hong Kong, Macao and Taiwan, and a minimum of 400 points can be admitted to domestic 985 and 211 colleges and universities
3. Passport visa-free
Macao SAR passports are visa-free for more than 130 countries and regions, including the United Kingdom, France, Japan, South Korea, etc.
4. Freedom to do business
It is easy to set up an international company locally, with low business costs, and products can be exported to the Chinese mainland market with zero tariffs, etc.
5. Medical insurance
Free reimbursement of medical expenses, transportation expenses, free medical vouchers, cancer treatment, disability allowance, etc.
Warm reminder: The details of the "Legal System for Talent Introduction" passed on August 11 have not yet been officially announced. The content of this article comes from public information. If you are interested in the entry plan for talents from Hong Kong and Macau, please continue to pay attention to Xingyunhai International~
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