Policy Address

5. enhance the Technology Talent Admission Scheme (TechTAS) by lifting the requirement for technology firms to employ additional local employees while admitting talents outside Hong Kong, with a view to speeding up talent admission;

6. extend the limit of stay of employment visas so that talents admitted under the existing and newly launched talent admission schemes and securing employment may be issued with an employment visa which will be valid for a maximum period of three years; and

7. refund the extra stamp duty paid by eligible incoming talents in purchasing residential property in Hong Kong. Eligible talents ^Note who purchase a residential property in Hong Kong from today and thereafter, and subsequently become a permanent resident upon residing in Hong Kong for seven years, can apply for a refund of the Buyer's Stamp Duty and the New Residential Stamp Duty paid for the first residential property purchased which they still own, while the Ad Valorem Stamp Duty at Scale 2 rates is still payable such that the overall stamp duty charged will be on par with that charged on first-time home buyers who are ordinary permanent residents. The arrangement applies to any sale and purchase agreement entered from today (19 October 2022) and thereafter.

30. At the same time, we will waive the requirement of applying for an employment visa for more visitors participating in short-term activities in Hong Kong. Apart from existing designated sectors like technology specialists and professional athletes, we will explore expanding the arrangements to more categories.

31. We will soon establish the Talents Service Unit which will be the one-stop shop, co-ordinating with the Immigration Department to process applications received under the talent admission schemes and providing support services. It will also draw up performance pledges to enhance efficiency in processing applications. Moreover, we will launch electronic services for all visa applications within this year.