Undergraduate students have no chance of becoming outstanding talents in Hong Kong? Approval standards are tightening!
The Hong Kong Immigration Department recently announced the approved data for various talent policies in the first quarter of 2024 (January-March). According to the data, a total of 2735 people were approved under the Hong Kong Talent Scheme in this quarter, which is 662 more than the same period in 2023 (2073 people). However, the trend behind this has sparked widespread discussion.
The Hong Kong government has always favored applicants with higher education qualifications, and the data for 2024 is even more surprising. The number of undergraduate students approved has hit a new low, with only 22 people approved, accounting for only 0.8%. This shows that those who have been told by intermediaries that “even those with college degrees can apply for Hong Kong talent” really need to be more cautious!
Interpreting the 2024 Hong Kong Talent Scheme Data
Let’s delve into the approved situation of the Hong Kong Talent Scheme in the first quarter of 2024 and analyze it in detail from three aspects: industry, region, and education, to understand the application trends of the talent scheme.
Industry Analysis
From the data released by the Hong Kong Talent Scheme, the financial and accounting services sector remains the most popular industry, accounting for 33%. Following closely is the information technology and telecommunications industry, accounting for 23.7%. The combined share of these two industries exceeds 56%. Additionally, the “other” industry accounts for a high percentage of 30.12%, showing the Hong Kong government’s open attitude towards talent industries in the talent scheme in recent years. This indicates that Hong Kong is attracting a more diverse range of talents, not just limited to traditional finance and technology sectors.
Education Analysis
In terms of education, applicants with a master’s (or double bachelor’s) degree still constitute the main approved group, accounting for 63.36%, while applicants with a Ph.D. (or double master’s) degree account for 35.28%. In contrast, the number of applicants with undergraduate degrees who were approved has sharply decreased, from 263 last year to 22 this year, representing only 0.8%. This undoubtedly reflects the increasing educational requirements of the Hong Kong government for applicants, with higher education now being a basic threshold for the talent scheme.
Regional Analysis
In the data for the first quarter of 2024, mainland Chinese applicants still dominate, accounting for a staggering 97.37% of approvals. Applicants from other countries make up less than 3%. This aligns with the talent introduction strategy announced by the Hong Kong government at the “Hong Kong Global Talent Summit”: the focus of future introductions will be on Southeast Asia and Europe. However, mainland China remains the primary source of talent for the Hong Kong Talent Scheme.
Application Trends of the Hong Kong Talent Scheme
- Increasing educational requirements
As the number of applicants increases and competition intensifies, the Hong Kong Immigration Department is imposing stricter educational requirements on applicants. Applicants with a master’s degree or above have a clear advantage, while applicants with undergraduate degrees need to have outstanding advantages in terms of work experience, background, etc., in order to stand out. - Clear industry preferences
As an international financial center, Hong Kong has a high demand for talents in the financial and IT industries. Executives in these fields, talents with technical and RD capabilities, especially professionals involved in cutting-edge fields such as big data analytics, artificial intelligence, and fintech, are more favored by Hong Kong.
Introduction to the Hong Kong Talent Scheme
The Quality Migrant Admission Scheme is a program introduced by the Hong Kong government to attract global outstanding talents to settle in Hong Kong, with the aim of enhancing Hong Kong’s international competitiveness.
Basic Application Requirements
- Aged 18 or above
- Hold a bachelor’s degree or above
- Provide proof of personal savings – individual applications require over HK$200,000, while family applications require over HK$300,000
- No criminal record or adverse immigration record
- Proficient in Chinese or English
| Category | Score Category | Score | |
| 1 | Age (Maximum 30 points) | 18-39 | 30 |
| 40-44 | 20 | ||
| 45-50 | 15 | ||
| 51 or above | 0 | ||
| 2 | Education/Professional Qualifications (Maximum 70 points) | Doctoral Degree/2 or more Master’s Degrees | 40 |
| Master’s Degree/2 or more Bachelor’s Degrees | 20 | ||
| Bachelor’s Degree/Professional qualifications bestowed by nationally or internationally recognized or prestigious professional bodies to certify that the holder possesses specialized knowledge or professional skills of an exceptional level | 10 | ||
| If the Bachelor’s degree or above is awarded by internationally recognized prestigious institutions, additional points can be obtained (Note 1) | 30 | ||
| 3 | Work Experience (Maximum 75 points) | Not less than 10 years of work experience equivalent to a degree level or expert level, including at least 5 years in a senior position | 40 |
| Not less than 5 years of work experience equivalent to a degree level or expert level, including at least 2 years in a senior position | 30 | ||
| Not less than 5 years of work experience equivalent to a degree level or expert level | 15 | ||
| Not less than 2 years of work experience equivalent to a degree level or expert level | 5 | ||
| If you have at least 2 years of international work experience equivalent to a degree level or expert level, you can obtain additional points (Note 2) | 15 | ||
| If you have at least 3 years of work experience equivalent to a degree level or expert level in a multinational corporation or well-known enterprise, such as a listed company or included in the Fortune Global 500, Fortune Global 500, and Hurun China 500, you can obtain additional points | 20 | ||
| 4 | Talent List (Maximum 30 points) (Note 3) | Additional points can be obtained if the specifications of the relevant profession in the talent list are met | 30 |
| 5 | Language Proficiency (Maximum 20 points) | Good written and spoken Chinese and English language abilities (Chinese spoken language refers to Mandarin or Cantonese) | 20 |
| In addition to having good written and spoken Chinese or English abilities (Chinese spoken language refers to Mandarin or Cantonese), fluent application of at least one foreign language (including written and spoken abilities) can also be awarded | 15 | ||
| Good written and spoken Chinese or English language abilities (Chinese spoken language refers to Mandarin or Cantonese) | 10 | ||
| 6 | Family Background (Maximum 20 points) | At least one immediate family member (spouse, parents, siblings, children) is a Hong Kong permanent resident residing in Hong Kong (Note 4) | 5 |
| The education level of the accompanying spouse is equivalent to a university degree or above (Note 4) | 5 | ||
| Each accompanying unmarried and dependent child under 18 years old receives 5 points, with a maximum of 10 points | |||
| Maximum 245 points, minimum passing score 90 points | |||
Applicants need to obtain scores through a comprehensive scoring system or an achievement scoring system before they have the opportunity to be approved.
Other related plans
Hong Kong Talent Admission Scheme
Overview The Talent Admission Scheme aims to attract mainland talents with special skills, professional knowledge, or rich experience to work in Hong Kong. As long as the applicants meet specific conditions, they can have the opportunity to work in Hong Kong.
Application Conditions
- No serious criminal record
- Have a good educational background, usually requiring a bachelor’s degree in a relevant field; in special cases, technical qualifications, professional capabilities, or proven work experience and achievements can be accepted
- The job applied for must be a genuine job vacancy
- Applicants must have obtained employment related to their qualifications or work experience, and the position should not easily be filled by local residents
- The provided salary and benefits should roughly align with Hong Kong market standards, including income, accommodation, medical care, and other fringe benefits
Hong Kong Quality Migrant Admission Scheme
Overview This scheme is designed for high-income individuals and graduates of the world’s top universities. Through the classification of categories A, B, and C, it aims to attract different types of outstanding talents to develop in Hong Kong.
Application Conditions
- Category A: Annual income of HKD 2.5 million or above (or equivalent foreign currency) in the previous year of application
- Category B: Hold a bachelor’s degree from a global top 100 university and accumulate at least three years of work experience within the five years before the application
- Category C: Hold a bachelor’s degree from a global top 100 university, but with less than three years of work experience (annual quota of 10,000 people)
- Categories A and B applications are not subject to quota restrictions
Hong Kong Study Sponsorship Scheme
Overview Through the IANG visa policy, Hong Kong encourages non-local graduates to work and support eligible students to study and work in Hong Kong.
Application Conditions
- Aged 18 or above
- Hold a bachelor’s degree or equivalent undergraduate qualifications, or a college diploma with several years of work experience
- Have good proficiency in Chinese and English: Chinese-taught master’s programs do not require English proficiency, while English-taught master’s programs require a TOEFL score of 79 or an IELTS score of 6.0 or above. Some institutions also accept the College English Test Band 4 or Band 6
- During the study period in Hong Kong, applicants must be able to independently cover their own and their family’s living expenses
Capital Investment Entrant Scheme
OverviewThis scheme is mainly targeted at individuals intending to make capital investments in Hong Kong without engaging in business operations, and applicants need to meet certain financial and economic requirements.
Application Conditions
- Aged 18 or above
- No criminal record or adverse immigration record
- In the two years before the application, have a net worth of at least HKD 30 million
- Within six months before the application or within six months after receiving the preliminary approval, invest at least HKD 30 million in designated asset classes
- Applicants must be self-sufficient and not rely on the income from invested assets, work income, or public assistance to sustain their livelihood
Summary
As the Hong Kong government’s preference for highly educated and specific industry talents becomes increasingly apparent, the competition for the Hong Kong Talent Admission Scheme is intensifying. For those who wish to apply, it is advisable to understand their strengths and weaknesses early on and consider their future career development plans. If you have any questions or need further identity planning, feel free to add us on WeChat, where we will provide you with professional consulting services!
Hope this information is helpful to everyone!
