Securities, FinTech and Venture Capital Professionals Prioritized in New Program to Attract Top Talent
Qualified professionals in the fields of securities, financial management, leasing, fintech, venture capital or private equity funds will be targeted under a new legal framework proposed to attract qualified external personnel.
The Macao SAR government announced yesterday (Wednesday) the start of a public consultation for a new legal framework to provide a three-year residence permit to highly qualified professionals over the age of 21, which could help the city ââto diversify its economy away from gambling.
The proposed new legal framework to attract qualified non-resident professionals to relocate to the city specifies the positions included in the four priority areas of high-end healthcare, modern finance, high-end technology, culture and sport.
Concerning the Large Health sector, priority will be given to specialists and professionals with great technical merit and / or recognized in the fields of medicine and pharmacy.
These would include the research, development and application of quality innovative medicine and traditional Chinese medicine; the internationalization and commercialization of drugs and medicines; quality control in the production of drugs; inspection and control of drugs; biochemistry, molecular biology and microbiology; research and development of intelligent health care and related equipment; complementary diagnostic and therapeutic means, medical and medical radiology equipment; research and development of services and products associated with health and well-being; as well as high medical tourism services.
With regard to the modern finance sector, priority would be given to attracting mainly financial specialists with broad technical skills and / or recognized merits such as advanced financial management; advanced financial research with analysis of experience of
macroeconomic and financial policies.
Professionals in five areas of finance – securities exchange, financial management, leasing, financial technology and venture capital or private equity funds – will also be covered.
As for high-end technology, the device will primarily focus on personnel skilled in advanced information and communication technologies, cybersecurity, integrated circuits, research, development and production of chips. , new energies, new
materials, Internet of Things, microelectronics, electronic devices, smart manufacturing industry, among other innovative technologies.
With regard to the culture and sport sector, the focus will be on qualified personnel with extensive technical experience in cultural and sporting activities, namely marketing leaders; management and creation of cultural and sports industries or those which dominate matters related to international trade as well as highly qualified professionals in the field of cultural and sports education.
If approved, the new system will replace the previous regime of establishment of the residence of investors and qualified personnel in force since 2005, with professionals who have established themselves through the previous system within the framework of the Promotion Institute. Macao Trade and Investment Department (IPIM) to continue to have their residency status renewed under the previous system requirements.
The new system will provide a renewable three-year residence permit to people divided according to a system proposed at three levels, namely: highly qualified professionals, excellent professionals and highly specialized professionals, the latter two to include a system of annual quotas.
When establishing the quotas, the authorities will take into account the number of local graduates in the relevant higher education courses and non-worker residents involved and the expected scale of development of priority industries, with initial quotas not exceeding not 1,000 per year.
Professionals coming to Macau under the new legal framework would also eventually be allowed to work in the Hengqin Deep Cooperation Area.