The Main Programme under the Professional Services Advancement Support Scheme (PASS) is inviting a new round of applications for project proposals starting 1 June 2025 from non-profit-distributing organisations such as professional bodies, trade and industrial organisations and research institutes.

PASS, with a total allocation of $200 million, aims at funding non-profit-making industry-led projects to increase exchanges and co-operation between Hong Kong's professional services and external counterparts, promote relevant publicity activities, and enhance the standards and external competitiveness of Hong Kong's professional services.

The maximum grant for each approved project under the Main Programme of PASS is $3 million or 90 per cent of the total eligible project cost, whichever is lower. A wide range of professional services, such as accounting, legal and dispute resolution, architecture, engineering, healthcare, information and communications technology, design and technical testing and analysis, are eligible for the Main Programme. Sector-specific projects and cross-sectoral projects are both welcome. Expenses directly incurred for implementing a project, such as manpower costs, venue and set-up costs, production and promotion costs, and the project team and active participants' travel and accommodation costs outside Hong Kong are typically eligible for funding support under the Scheme. Funding support may also be provided for travel and accommodation costs incurred by participants of relatively longer professional internships or attachment programmes outside Hong Kong which are funded by the Main Programme.

Up to early May 2025, more than 120 projects had been funded under the Main Programme, including project deliverables in and outside Hong Kong. The deliverables include capacity-building programmes for enhancing the standards of local professionals, such as training programmes, workshops and study tours; outreach and promotional activities for showcasing the strengths of Hong Kong's professional services, such as roadshows, promotional seminars and participation in exhibitions outside Hong Kong; exchange activities for deepening interaction between Hong Kong professionals and their external counterparts, such as visits to other economies and international conferences and seminars held in Hong Kong; and research projects on potential external markets for Hong Kong professional services and development of best practice guidelines and manuals for professionals. Details about the Main Programme and its funded projects are available at www.pass.gov.hk/main/en/home.

Furthermore, with a view to stepping up the promotion of Hong Kong's competitive edges and professional services to the Mainland and overseas markets, $50 million has been set aside for the Professionals Participation Subsidy Programme (PSP) under PASS to subsidise Hong Kong major professional bodies to participate in relevant activities organised by the Government (such as Hong Kong Economic and Trade Offices) and the Hong Kong Trade Development Council after the pandemic situation has stabilised. Details of the PSP and its list of activities are available at www.pass.gov.hk/psp. Hong Kong professionals from the eligible professional sectors under PASS may make use of the PSP subsidy to join the relevant activities.

The Main Programme and the PSP receive applications for project and activity proposals all year round and they are processed on a quarterly basis. The deadline for the new round of applications is 31 August 2025. A briefing session will be held on 27 June 2025 for organisations interested in applying for the PASS funding. One-on-one consultations are also available upon request for discussing preliminary project ideas or projects in the planning stage. To register for the briefing session, schedule a consultation, or for other enquiries, please contact the PASS Secretariat at 3655 5418 or pass@cedb.gov.hk.
 
For relevant press release, please visit https://www.info.gov.hk/gia/general/202506/01/P2025060100232.htm.
 

The Government announced on 30 May 2025 the introduction of a new channel under the General Employment Policy (GEP) and the Admission Scheme for Mainland Talents and Professionals (ASMTP) from 30 June to allow outside individuals to apply for entry into Hong Kong to join eight skilled trades facing acute manpower shortage. Applicants are required to be non-degree professionals meeting the relevant qualifications as specified in the Technical Professional List and aged between 18 and 40. This new arrangement will be piloted for three years with an overall quota of 10 000, and the quota for each skilled trade is limited to 3 000.

The Technical Professional List covers eight specified skilled trades, namely new industrialisation technicians, nurses, aircraft maintenance technicians, marine services technicians (for local vessels), information technology technicians, lift/escalator technicians, building information modeling coordinators and electrical technicians. Applicants are to meet the requirements on qualifications, work experience, professional skills (e.g. registration or license to practice), etc, of the specific skilled trade as listed on the List. In addition, according to the prevailing requirements under the GEP and the ASMTP, the relevant professionals are required to have secured an employment offer from a local enterprise before application, and the remuneration package should be commensurate with the market level for similar jobs.

Depending on the skilled trade and the applicant's qualifications, the first entry visa will be valid for 24 or 36 months. When applying for visa renewal, a technical professional must continue to be employed in the same skilled trade in Hong Kong. If his/her visa renewal application is approved, an extension of stay of not more than 36 months, or in accordance with the validity period of his/her employment contract (whichever is shorter), may be granted.

A Government spokesperson said, "According to the 2023 Manpower Projection published last year (2024), Hong Kong is expected to face an overall manpower shortage of 180 000 by 2028, over one-third of which will be skilled technical workers. As such, the 2024 Policy Address announced that a new channel would be introduced to attract young and experienced non-degree professionals to join skilled trades facing acute manpower shortage. The Technical Professional List was compiled by relevant bureaux and departments after careful consideration and in consultation with stakeholders of various industries and sectors. The eight skilled trades identified are all critical to sustaining Hong Kong's city operation, facing acute manpower shortage at least in the next five years, and in need of manpower that cannot be replenished by local training in good time."

"The new channel targets mid-level qualified and experienced non-degree technical professionals of specified trades and attracts them to settle in Hong Kong in the long run. This is distinct from and does not overlap with the existing Enhanced Supplementary Labour Scheme and sector-specific labour importation schemes. The new arrangement will be on a pilot basis for three years, subject to a review after the first year. Meanwhile, the Government will continue its commitment to training for local workers," the spokesman added.

Under the employment-tied GEP and the ASMTP, employers may apply to employ outside talent, normally with a bachelor's degree or higher qualifications, to fill job vacancies that could not be readily taken up by locals. For vacancies falling under the professions in the Talent List, the enterprises are not required to conduct a market availability test to prove difficulties in local recruitment before making applications. Employers submitting applications in future through the new technical professional stream under the two schemes will also enjoy such exemption from conducting a market availability test.

Details of the skilled trades of the Technical Professional List, the respective description of tasks and qualification requirements have been uploaded to the website of the Immigration Department (ImmD) (www.immd.gov.hk/eng/services/visas/TPStream.html), as well as the website of Hong Kong Talent Engage (www.hkengage.gov.hk). Enquiries can be made to the ImmD through its hotline (2824 6111), by fax (2877 7711) or by email (enquiry@immd.gov.hk).
 
For relevant press release, please visit https://www.info.gov.hk/gia/general/202505/30/P2025053000293.htm.
 

The Government welcomed the passage of the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Bill 2024 by the LegCo on 28 May 2025. It enables the implementation of the global minimum tax (GMT) and the Hong Kong minimum top-up tax (HKMTT) in Hong Kong from 1 January 2025, onwards in accordance with the Base Erosion and Profit Shifting (BEPS) 2.0 package promulgated by the Organisation for Economic Co-operation and Development (OECD) for tackling tax evasion risks arising from the digitalisation of the economy.

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "The implementation of the GMT and the HKMTT highlights Hong Kong's staunch support to international co-operation in tackling cross-border tax evasion, and safeguards Hong Kong's taxing rights. With the 15 per cent GMT for in-scope multinational enterprise (MNE) groups in place, countries and regions can no longer compete for capital and investment by simply lowering their corporate income tax rates. With a fairer global taxation environment, our unique advantages such as the 'one country, two systems', excellent connectivity, first-class infrastructure, mature financial markets, quality talent pools, East-meets-West vibes, etc will become even more accentuated to showcase Hong Kong as a premier destination for doing business."

Under BEPS 2.0, MNE groups with an annual consolidated revenue of 750 million euros or above in at least two of the four fiscal years immediately preceding the current fiscal year (in-scope MNE groups) will need to pay the GMT of at least 15 per cent on profits derived from every jurisdiction in which they operate. With the implementation of the HKMTT, the HKSARG will have the first priority in collecting top-up tax from entities of in-scope MNE groups with an effective tax rate (ETR) in Hong Kong below 15 per cent to raise it to 15 per cent. Otherwise, the relevant top-up tax may be collected by other BEPS 2.0-implementing jurisdictions in which the group also operates. Hong Kong's taxing rights would then be ceded to other jurisdictions. It is estimated that the new regimes will bring in an additional revenue of about $15 billion per year from 2027-28 to the HKSARG.

To facilitate compliance by in-scope MNE groups, taking account of stakeholders' views, the GMT and HKMTT regimes have incorporated various features, including:

• safe harbours developed by the OECD, which are provided to reduce compliance burden;
• the proposed record-keeping period is shortened, and the proposed time limit for filing a Global Anti-Base Erosion information return, if exchange mechanisms fail, is extended to reduce the compliance burden;
• the "sole or dominant purpose test", instead of the "main purpose test" originally proposed, is adopted as the general anti-avoidance provision to maintain consistency with the existing mechanism;
• the qualified domestic minimum top-up tax payable in other jurisdictions is allowable as a tax credit against profits tax charged under Part 4 of the Inland Revenue Ordinance (Cap. 112) (IRO) where appropriate; and
• the top-up tax to be collected in Hong Kong will be deemed as profits tax so that the relevant existing tax administration mechanisms in the IRO can be applied. Where applicable, taxpayers can ride on Hong Kong's Comprehensive Avoidance of Double Taxation Agreements or Arrangements signed with other countries or regions for resolving cross-border disputes.

The Inland Revenue Department (IRD) has set up a dedicated team to provide technical support and answer enquiries with regard to BEPS 2.0. They will also publish online guidance addressing common concerns.

More details on the GMT and the HKMTT are available at the IRD's dedicated webpage (www.ird.gov.hk/eng/tax/bus_beps.htm).
 
For relevant press release, please visit https://www.info.gov.hk/gia/general/202505/28/P2025052800539.htm.
 

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