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Qianhai Announces Tax Subsidies for Hong Kong, Macao or Taiwan Staff

Skilled non-mainland resident personnel, with the required technical abilities and experience, are to be offered tax incentives if they are willing to work in the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone and help to ensure it achieves its designated developmental objectives. The move, recently announced by the Qianhai Authority, will see such individuals eligible for a financial subsidy equal to the amount of individual income tax payable in Qianhai in excess of 15% of their taxable income.

In order to be eligible for this subsidy, applicants must be permanent residents of Hong Kong, Macao or Taiwan. The initiative is also open to Hong Kong residents who have acquired residence under the Admission Schemes for Talent, Professionals and Entrepreneurs and to mainland residents who have permanently relocated to Hong Kong or Macao. Full details of eligibility and the application process can be found in the Measures on Recognition of Foreign High-End Talent and Urgently-Needed Talent in the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone, as recently jointly-issued by the Qianhai Authority and the Shenzhen Human Resources and Social Security Bureau.

The Measures came into effect on 15 April this year and will remain in force until 31 December 2020.

For further details (in Chinese), please access the following links:

Circular of the Authority of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen (Shen Qian Hai Gui No.5 [2019])  

Qianhai Looks to Woo High Level Staff via Financial Incentives

Content provided by Picture: HKTDC Research
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