Exciting news for non-permanent Hong Kong residents with foreign passports! Starting Wednesday, they can now visit mainland China for up to five years with a multiple-entry visa, a significant extension from the previous two-year limit. This move, announced by Chief Executive John Lee Ka-chiu, aims to attract more foreigners to set up businesses in the city and strengthen its position as an international trading hub.
In addition to the visa extension, Hong Kong will also offer tax concessions to maritime services businesses and commodity traders to enhance the city’s shipping industry. Lee emphasized the interconnectedness of international financial, shipping, and trading centers, signaling a focus on expanding existing businesses and exploring new growth opportunities.
Moreover, non-permanent residents working for Hong Kong-registered companies will receive priority in visa application processing. This initiative not only simplifies travel for residents but also encourages more foreign entrepreneurs to establish businesses in Hong Kong, further enriching the city’s economic landscape.