In Hong Kong, people have come and gone since time immemorial, and many who left have chosen to return. In the process, life goes on, and nobody has batted an eyelid over their movements.
Emigration is a serious decision in anybody’s life journey and should not be taken lightly without a full examination of all the circumstances and carefully weighing all the factors involved, since it means uprooting from a familiar place and res-starting anew in an alien land.
Immigration consultants point out that the major worries of their clients are security and stability, while families have the added concern on the quality of education for their children. And for many, the move is analogous to taking out an insurance policy.
Emigration occurs in waves, and events in recent years seem to have a cumulative effect of late on the rising level of interest in moving abroad. David Hui, Managing Director of Centaline Immigration Consultants (HK) Limited, confirms there has been a marked increase in inquiries since May.
So for those thinking about leaving or already planning a move, what immigration options are there on a global perspective?
Malaysia
Malaysia is a popular choice owing to its close proximity to Hong Kong and its many similarities in history and culture. With a large ethnic Chinese population, it is easy for Hong Kong people to communicate in various Chinese dialects and English. Besides, Malaysia is a relatively cheaper immigration option given its low cost of living.
The Malaysian government welcomes foreigners under the Malaysia My Second Home (MM2H) programme to reside in the country for 10 years at a time.
“A single application covers the entire family of the MM2H holder,” says Theresa Fok, Founder and Managing Director of Jade Land Properties (HK) Limited.
“With low entry requirements, MM2H holders enjoy various benefits, including permittance to run a business, obtaining favourable mortgage loans of up to 70% (subject to approval), and eligibility to study at international schools in Malaysia.”
Taiwan
Closer to home, Taiwan has always been a favoured destination given its low requirements and affordable cost of living. Most Hongkongers qualify to emigrate by making investments in Taiwan or being business entrepreneurs.
Joanne Leung, Senior Immigration Consultant of Rich Top (HK) Immigration Consultants Limited, notes that, as many Hongkongers see a foreign residency in Taiwan as a backup plan, some underestimate the colossal cost involved in immigration, especially when it comes to investment immigration.
“They need to do their sums and consider whether they can integrate into the local way of life in terms of the working style and the slower pace of life typical of the Taiwanese,” she says.
Japan
Japan has always been held in high regard in Hong Kong where there is a large following for its cuisine and pop culture.
Driven by demographic and business concerns due to an ageing population and a shrinking labor force, the country has adopted an open attitude towards immigration.
Two types of visas are available: one for high-skilled foreign workers to stay for not more than five years; and one for investors who can stay for 10 years with the possibility to become permanent residents thereafter.
“One can apply for the Japan Investor Visa or Business Manager Visa by either investing specific properties, or investing in/undertaking a business,” says Eagle Chan, Senior Consultant of Hong Win Immigration Consulting.
“Whether applicants will attain a permanent residency depends on the sustainability of the investment item and whether they are considered beneficial for the government,” he says.
Britain
Along with Australia, the US and Canada, the UK is among the top choices for those pondering emigration.
“The UK has competitive tax rates and the pound sterling is considered a ‘safe haven’ currency,” says James Thomas, Director of Invest and Consult Ltd. “Furthermore, Britain’s diverse economy and vibrant culture provide an ideal environment for investors seeking a new life.”
There is a wide array of flexible pathways to residency and citizenship in the UK. The newly-launched Innovator visa and Start-up visa are welcome news for entrepreneurs as a lower threshold of investment is required; there is also no restriction on the industry sector.
Hui advises that intending emigrants must do their homework; they have to study the present business environment, and evaluate the risks involved in investment immigration.
Portugal
Compared to other European cities, the quality of life and cost of living in Lisbon – alongside its rich culture, secure environment, and congenial climate – are major attractions for people wanting to relocate to Portugal.
The city is eminently affordable, with prime properties averaging €8,000/sq. m. or €745/sq. ft., making it highly accessible to investors looking at different levels of the market.
“The most popular pathway is via the Golden Visa (GV) scheme which entails an investment of €500,000 into real estate, and covers the investor, his spouse and dependents,” says Mei Han Wong, Executive Director and Head of International Residential Sales of Knight Frank Hong Kong.
“Clients must take care to ensure the agent carries out due diligence on the developer from whom they are purchasing the property,” she advises.
Australia
Australia is in the same time zone as Hong Kong and is only an overnight flight way. The country also adopts a transparent, clear point-based system on immigration applications.
One can apply for the Entrepreneur/Investor visa, which requires prior experience in business operations and the possession of family assets. The Skilled Workers route, on the other hand, stipulates applicants must secure a job listed on the National Occupation List.
Carlene Wang, Senior Immigration Manager of PCL Immigration Services Limited, says the Australian authorities accord a high priority to a candidate’s English proficiency when reviewing applications.
“Major cities such as Melbourne and Sydney have higher qualification thresholds because of population pressures,” she adds. “And there is a lower demand for overseas professionals in these popular state capitals.”
