Employment Visas: Understanding Hong Kong's Expanded Talent List May 2023
The Hong Kong government has announced that the Talent List will be expanded in May 2023 to include several additional roles.
What is the Talent List?
The Talent List is a compilation of professions identified by the Hong Kong Government where there is a recognised shortage of skilled individuals. This list aims to address the scarcity of talent in specific industries and make the immigration process easier for professionals in these fields. By simplifying immigration arrangements, the government looks to enhance Hong Kong's competitiveness and foster the growth of the local talent base.
Professions on the Talent List
The Talent List comprises a diverse range of professions, each playing a crucial role in meeting the demands of Hong Kong's evolving economy. Here are some of the highlights:
ESG Professionals
Professionals specialising in Environmental, Social, and Governance (ESG) practices are in high demand. With a growing emphasis on sustainable business practices and responsible investing, ESG professionals play a vital role in guiding organisations toward more environmentally and socially responsible decisions.
Asset Management Professionals
The talent shortage in the asset management sector has prompted the inclusion of professionals with expertise in investment management, portfolio analysis, and financial planning. Hong Kong's status as a global financial hub requires a pool of asset management professionals to meet the needs of international investors.
Professionals in FinTech
As the financial technology sector continues to expand, Hong Kong recognises the importance of nurturing talent in this area. Professionals skilled in areas such as blockchain technology, digital payments, and financial analytics can support Hong Kong's position as an innovative FinTech hub.
Data Specialists
In the era of big data, the demand for data specialists remains high. Hong Kong requires professionals proficient in data analysis, data science, and data governance to harness the power of information for business intelligence and decision-making.
Cybersecurity Specialists
With the growing threat of cybercrime, the need for cybersecurity specialists is paramount. Hong Kong seeks professionals skilled in cybersecurity risk assessment, incident response, and network security to safeguard critical infrastructure, protect sensitive data, and ensure the digital resilience of organisations.
AI Specialists
Artificial Intelligence (AI) professionals are essential in driving technological advancements and innovation. Hong Kong's aspiration to become a smart city relies on the expertise of AI specialists who can develop and deploy cutting-edge AI solutions across various industries.
Digital Marketing & Branding Specialists
In the digital age, effective marketing and branding strategies are crucial for business success. Professionals well-versed in digital marketing, social media management, and brand development are in demand to help organisations navigate the ever-changing landscape of online marketing.
Immigration Arrangements and Requirements
The HK Government has established different immigration schemes to facilitate the entry of talent into professions listed on the Talent List. Let's explore the two primary schemes:
General Employment Policy & Admission Scheme for Mainland Talents and Professionals (GEP/AMSTP)
Under this scheme, employers hiring foreign talent in the listed professions do not need to demonstrate efforts to hire locally (the “Market Availability Test”), which is typically required when applying for a visa. However, certain criteria must be met:
The position should be at a managerial level to facilitate the training of local talent. Fresh graduates are not eligible for this scheme.
The salary offered must be in line with the market and should not be less than HK$30,000 per month.
Applicants must possess at least a first or bachelor’s degree qualification, and some professions may require additional certifications.
For more detailed information on specific requirements and application procedures, refer to the official documentation provided by the Hong Kong Government.
Quality Migrant Admission Scheme (QMAS)
The QMAS is a points-based system that assesses applicants based on the "General Points Test." Professionals with at least 80 points are eligible to apply under this scheme (an additional 30 points are granted if their profession is on the Talent List). However, it is important to note that in practice, the QMAS visa is rarely granted. Applicants have higher chances of success when applying through the GEP or AMSTP.
How does the Talent List benefit employers?
The inclusion of the Talent List and the streamlined immigration arrangements provide several benefits for employers seeking to hire foreign talent. Here are some advantages:
Exemption from Local Hiring Efforts: Employers no longer need to provide proof of extensive local hiring efforts when recruiting professionals from the Talent List. This eliminates the burden of demonstrating the unavailability of suitable local candidates and expedites the visa application process.
Time Efficiency: By opting for the GEP to hire foreign talent, companies can reduce their application processing time by approximately four weeks. The simplified procedures allow employers to swiftly bring in the necessary expertise without delays.
Strong Justification: With the Talent List in place, employers have a stronger case to support their need for hiring foreign professionals. The shortage of local talent in specific fields is evident, making it easier to demonstrate the necessity of bringing in expertise from overseas.
Conclusion
The Talent List in Hong Kong plays a crucial role in addressing the shortage of skilled professionals in various industries. By simplifying immigration arrangements for individuals in these professions, the government aims to enhance Hong Kong's competitiveness and foster the growth of its local talent base. Employers benefit from streamlined procedures and exemptions, allowing them to meet their business needs efficiently. As Hong Kong continues to evolve as a global hub for finance, technology, and innovation, the Talent List serves as a valuable tool for attracting and retaining talent from around the world.
Contact Shepherd Asia to see how the Talent List might apply to professions your company is recruiting for.
Frequently Asked Questions
Can individuals not on the Talent List still apply for a work visa in Hong Kong?
Yes, individuals not on the Talent List can still apply for work visas in Hong Kong. However, they would need to meet the standard eligibility criteria and provide evidence of the unavailability of local talent for the position they seek.
Is the Talent List updated regularly?
Yes, the Talent List is regularly reviewed and updated by the Hong Kong Government to reflect the changing demands of the labour market and industry needs.
Are there any additional benefits for professionals on the Talent List?
While the Talent List itself provides benefits in terms of immigration arrangements, professionals on the list may also enjoy enhanced job prospects as employers actively seek individuals with skills and expertise in high-demand fields.
Can foreign students studying in Hong Kong benefit from the Talent List?
Foreign students studying in Hong Kong can benefit from the Talent List if they pursue the professions listed on it. Upon graduation, they may be eligible for streamlined immigration arrangements under the relevant schemes.
How can employers seeking foreign talent get assistance or guidance?
Employers seeking assistance or guidance regarding the hiring of foreign talent can reach out to immigration consultants and professional services firms, such as Shepherd Asia, or contact the Hong Kong Immigration Department.
