According to a report from China Daily, Hong Kong government had received 72 000 uses for the TTPS as of February 1st, 2018. Around 59, 000 have been approved.
In contrast, Singapore has approved about 4, 200 applications under its own aristocracy card structure- the Overseas Networks &, Experience Go ( ONE Pass )- as of Jan 1 this year, one year since it was launched.
Somewhere in Asia, Thailand’s Long- Word Resident visa programme, which seeks to get rich individuals and/or talented professionals, has attracted 1, 600 applicants since it opened in September 2022, according to an East Asia Forum article published in January next year.
Experts contend that the gap in figures, especially between Hong Kong and Singapore, is a significant result of the different criteria. Mr Kenneth Peh, Director of Global Employer Services at Deloitte Hong Kong, pointed out the “relatively less restrictive” needs for the TTPS compared to Singapore’s ONE Pass.
Singapore’s ONE Pass is aimed at talents from any business who earn a monthly wage of S$ 30, 000 and over, or have “outstanding achievements” in the areas of science and engineering, arts and culture, analysis and academia, or sports.
As for Hong Kong’s TTPS, people with annual taxable employment or business income of at least HK$ 2.5 million, working out to about S$ 36, 000 monthly, are eligible to apply. However, this is only one of three categories under which they may apply.
Graduates with at least three years of recent work experience and a list of eligible universities- the top 100 under four designated world rankings- are also eligible to apply for the scheme.  ,
Under the terms of an annual quota set at first-come, first-served, eligible individuals also have less than three years of work experience.
In essence, this means graduates with little or no work experience could obtain what Hong Kong labels as a visa for top talent. The city does not disclose the classification that TTPS applicants applied to.  ,
The TTPS takes a “unique approach” in the region, Mr Tang said. He cited Hong Kong’s “remarkably low” unemployment rate of 2.9 % between November 2023 and January 2024, which, he explained, makes it particularly challenging for businesses to find new employees, especially if they are attempting to increase the workforce.
Mr. Tang said the TTPS aims to attract people with strong academic backgrounds and more than three years of relevant work experience, which is “ideal” for filling crucial mid-management vacancies, in contrast to some programs that focus solely on senior-level professionals and entrepreneurs and or specific communities.