HONG KONG UPDATE: THE IMPACT OF THE NEW NATIONAL SECURITY LAW UPON HONG KONG BUSINESSES, INVESTORS AND FUTURE AUSTRALIAN VISA APPLICANTS

HONG KONG UPDATE: THE IMPACT OF THE NEW NATIONAL SECURITY LAW UPON HONG KONG BUSINESSES, INVESTORS AND FUTURE AUSTRALIAN VISA APPLICANTS

In a response to Hong Kong’s new National Security Law, Australian Prime Minister Scott Morrison has suspended the country’s extradition agreement, extended visas for the estimated 10,000 Hong Kong people residing in Australia and announced that Australia is “looking to recruit” Hong Kong businesses.

The new security law effectively gives Beijing the power to shape the lives of both individuals and businesses in Hong Kong.

Prime Minister Scott Morrison has said in a Press Conference on 9 July 2020 that there will be “new incentives and arrangements to attract export-orientated Hong Kong-based businesses to relocate to Australia, particularly where they have a strong potential for future growth and employment of Australians”, and that “through our global talent program… if there are businesses that wish to relocate to Australia, creating jobs, bringing investment, creating opportunities for Australia, then we will be very proactive in seeking to encourage that.”

A 5 year temporary skilled visa with a pathway to permanent residency for future Hong Kong applicants will also be provided, subject to meeting an updated skills list and appropriate labour market testing. In relation to the Global Talent Temporary Visa Scheme, Acting Immigration Minister Alan Tudge has said “we’ll be prioritising applicants from Hong Kong for that scheme and providing some additional resources there as well to target those particular individuals who are real job-multiplying people, who create businesses, who are entrepreneurs, who have that tech talent. And they will then have a permanent residency visa to enable them to come into the country. That will be the same as well for our Business Investment Programs as well, where again we’ll be prioritising some of the applicants from Hong Kong to come into Australia”.  Applicants will also be supported by the re-opening of the visa application centre in Hong Kong, which was shut down during the at the beginning of the COVID-19 period.

Acting Immigration Minister Alan Tudge has also said that there will be “new incentives for export-oriented Hong Kong-based businesses to relocate to Australia. And with these economic incentives will also be visa pathways for all critical staff to come to Australia and have a pathway to permanent residency. This includes media businesses, financial services businesses, large consulting businesses”.

There have also been updates in relation to existing visas. Skilled and Graduate visa holders have had their visas extended by five years from 9 July 2020. There are now 5 year Temporary Graduate and 5 year Student visas for Hong Kong residents, with a pathway to permanent residency after 5 years. Students who are studying in regional campuses can obtain permanent residence through a 3 year pathway.

The Madison Marcus Global Mobility and Immigration Division, which has over 40 years’ experience and an excellent reputation, can assist those from Hong Kong that are seeking Australian residence.

The multilingual Global Mobility and Immigration Division prides itself on its ability to guide clients through complex visa related queries with strong communication.

 

Madison Marcus Global Mobility experts can provide assistance in all matters involving Corporate & Skilled Migration, Business Innovation and Investment as well as a range of different types of visas, including partner, child and student visas.

Furthermore, Madison Marcus has a range of other areas of expertise, such as Banking & Finance Law, Commercial Law, Commercial Litigation, Family Law and Foreign Investment Law that can be utilised in matters such as the event of Hong Kong based businesses and their employees and families moving to Australia.

Prepared by George Botros (MARN: 1799679) and Jimmy Morcos (MARN: 0533759)

For all enquiries in relation to Immigration law matters or advice, please contact our expert team today. 

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