03 JUN

Why are Hong Kong and Macau identities so popular?

  • Life Style
  • Fairy
  • Oct 05,2023
  • 55

Hong Kong visa

Since the Hong Kong government launched its resettlement program, Hong Kong status has been favored by middle-class families. Recently, the Macau government announced that it has officially joined the "War for Talents".work visa application hong kong Even though Macau's talent admission program is only in the planning stage, many prospective applicants are inquiring about it. What is the use of these two statuses that middle-class families attach so much importance to them?

1. Enjoy local social benefits in Hong Kong and Macau

After acquiring Hong Kong and Macau status, status holders can enjoy local social welfare measures. For example, your children born in Hong Kong after obtaining the Hong Kong identity, you can directly apply for a Hong Kong Special Administrative Region passport, Hong Kong passport visa-free entry to many developed countries, including Canada, Australia, the United Kingdom and other European countries; Whether it is for business, tourism or work, you can leave, easy to realize the dream of the world. If you obtain the status of Macau, you can enjoy the government issued cash and other benefits.

2. Children enjoy education benefits in Hong Kong and Macau

Accompanying children of status holders under the age of 18 can enjoy free local public education services and apply for student allowances after obtaining Hong Kong and Macau status. Children with Hong Kong status can choose to study in purely foreign international schools in the Mainland or all local international schools in Hong Kong. At the same time, Hong Kong has implemented the "bilingual and trilingual" mode of teaching English, Putonghua and Cantonese in parallel, with a high level of English learning, and young children start learning English from kindergarten, while language education emphasizes application.

3. Enjoying a favorable tax regime

Both Hong Kong and Macau have very favorable tax regimes, especially Hong Kong! Hong Kong is known as the "Low Tax Paradise". The tax system is very simple, with no inheritance tax, interest tax, capital duty, business tax, sales tax, value-added tax, gift tax and capital gains tax. There is no estate duty, interest tax, capital duty, business tax, sales tax, value-added tax, gift tax and capital gains tax. The corporate profits tax is only 8.25%, and a regional tax system is in place. Only income derived in Hong Kong is taxable. In other words, business profits are subject to profits tax if they are derived from a trade, profession or business operated in Hong Kong, which greatly saves entrepreneurs and HNWIs the cost of their business and wealth.

4. Enjoy preferential policies for home purchase

Students holding Hong Kong and Macau student status can enjoy certain concessions or subsidies for purchasing properties in the Greater Bay Area.

5. Enjoy the same benefits

Hong Kong and Macao residents working, living and studying in the Mainland are entitled to social security cards and enjoy the same medical and pension insurance benefits as Mainland residents. Hong Kong has a sound medical and social welfare system. After I become a permanent resident of Hong Kong, I can not only enjoy the advanced medical technology of Hong Kong at a very low cost, but also enjoy social welfare benefits such as unemployment benefits, pensions and old age living allowances.

6. Enjoy tax subsidies

Residents with permanent status in Hong Kong and Macao, or Hong Kong residents who have been granted the Talents, Professionals and Entrepreneurs Entry Scheme and are recognized as high-end talents or talents in short supply, have the opportunity to enjoy tax concessions of less than 15% in the nine cities in the Pearl River Delta.

7. Children have the opportunity to attend prestigious schools with low scores.

If children have average grades, they have no advantage in front of the Hong Kong Advanced Level Examination (HKALE), which is a one-board bridge for millions of people. However, if they want to enter a good prestigious university, then they can consider the Joint Entrance Examination for Overseas Chinese Students. Dependents of ID card holders who have received Hong Kong and Macau ID cards and Home Visit Permits can register for the Joint Examination for Overseas Chinese in Hong Kong, Macau and Taiwan. Compared with the 10 million people who register for the Hong Kong Advanced Level Examination (HKALE) every year, there are less than 5,000 people registering for the HKALE every year, which gives them the opportunity to overtake at the corner and offers more choices for their children's future.