HONG KONG TO REFUND EXTRA TAXES FOR FOREIGN PROPERTY OWNERS TAKING UP RESIDENCY

Foreigners who have owned property in Hong Kong for three or more years will get their extra stamp duty refunded if they take up permanent residency as part of a global talent drive the city leader will announce in his policy address next week, the Post has learned.

Chief Executive John Lee Ka-chiu is also expected to introduce a new 18-month visa to attract graduates from renowned universities with no conditions attached as part of the plan to stanch a brain drain worsened by the Covid-19 border restrictions of recent years.

Local employers will also be given a freer hand to hire overseas talent without first proving a lack of suitable candidates already in the city, according to government insiders.

— South China Morning Post

https://www.scmp.com/news/hong-kong/politics/article/3195896/global-war-talent-hong-kong-refund-extra-taxes-foreign