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Business Law In Hong Kong Essay

826 words - 3 pages

Immigration to Hong Kong Special Administration Region is the dream of diverse foreigners, why? It is because the fundamental and diversity boon of Hong Kong may be well better than their own country, the dimension covered low salary tax rate, no import tax, high technique and cheap medical services etc., attracts them to immigrate to Hong Kong. Yet, among all immigrants, only a few who are able to contribute towards Hong Kong will be success. There are numbers of immigration policies currently adopted by the immigration department of Hong Kong, Quality Migrant Admission Scheme (QMAS) and Capital Investment Entrant Scheme (CIES) are the most famous among all.To start with, Quality Migrant Admission Scheme refers to acquire of diverse talented or high technique person to stay and live in Hong Kong as a local citizen, in order to raise the international competitiveness of her. People applying through this scheme have to go through either the general point test or achievement-based points test, to seek for their unique points and further fight against other underlying applicants for the quota allocation. Successful applicants are allowed to bring along their families, in chorus their unmarried dependent children who are under 18 years old and can provide own living expense, without the support by the HKSAR government. According to the data provided by the immigration department, from 2006 till 2013, there are a total of 8553 applications through this scheme, while nearly 2600 of them are succeeded in 6.5 years. Lang Lang, the famous pianist, and Zhang Zi Yi, the latest Oscar best actress winner, are examples of talented reached Hong Kong through QMAS.Next, Capital Investment Entrant Scheme refers to huge capital investment in Hong Kong by foreigners, yet they wont engage in running any types of business here. The scope of this scheme is available to majority countries on our planet, except Afghanistan, Cuba and North Korea. The minority receives no bias from Hong Kong, but due to the unstable political affairs, to preserve her value circumstance, other applications will not be considered at this moment. What is more, applicants through this scheme have to fulfill the following criteria. First of all, one prerequisite is that the applicants have no adverse record both in Hong Kong or the original country. Next, the applicants have to be 18 years old or above, with no less than HK$10 million net assets and will invest in Hong Kong before or after the submission of his application. Finally, he has to demonstrate that he...

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