Hong Kong, October 26: Foreign employees of foreign companies registered in Hong Kong will be allowed to apply for a single-entry visa for multiple entries into mainland China .
In his annual policy speech yesterday, Hong Kong Chief Executive Li Ka-chau said that the special region would relax visa requirements for workers from Vietnam, Laos and Nepal, according to South China Morning Post . Mr Li added that foreign employees of foreign companies registered in Hong Kong will be allowed to apply for a single visa for multiple entries into mainland China . This policy takes effect from October 26.
In this annual policy address, Mr. Lee focused on strengthening the real estate market and stabilizing Hong Kong's slowing economy. Mr. Lee emphasized that stamp duty will be reduced from 15% to 7.5% for second home buyers and buyers who are not Hong Kong citizens. This policy is intended to help revive the real estate sector - which is one of the pillars of the economy. The new registration tax rate in the real estate sector takes effect immediately.
Mr. Ly also said that a special registration tax equivalent to 10% of the house price will be exempted for owners who resell real estate within 3 years to 2 years. Additionally, qualified foreign talent are no longer required to pay real estate stamp duty if they do not become permanent residents.
Also according to Mr. Ly, the Hong Kong government will grant 20,000 HKD (more than 63 million VND) to people with newborn children if one parent has been a permanent resident for 3 years. In addition, families with newborns have priority in lining up to rent public housing, effective from April 2024.
Source: ThanhNien Newspaper
