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Hong Kong to offer residency visa for investors in local markets

Government hopes to stem outflow of talent to Singapore and Japan

Hong Kong's government is hoping to attract capital and human resources with a new visa scheme.   © Reuters

HONG KONG -- Hong Kong will revive a visa program that grants residency status to people who invest a certain amount in local asset markets, amid an intensifying competition for talent with neighboring countries like Singapore and Japan.

"With a view to further enriching the talent pool and attracting more new capital to Hong Kong, we will introduce a new Capital Investment Entrant Scheme," Finance Secretary Paul Chan said in an annual budget speech Wednesday, using the program's official name.

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