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FM HONG KONG
нко 340/1
RECEIVED IN
((CORRECTED VERSION PARA 3)>
TO DESKBY 21090OZ F C O
TELNO 2817
OF 210748Z SEPTEMBER 90
INFO IMMEDIATE HKGO LONDON
21SEP 1990
DESK OFFICE, INDEX
PA
Int. Sup. 363
037271
MDHIAN 0290
Q DIST ?
HKGO LONDON PERSONAL FOR YAXLEY
YOUR TELNO 1734: OFFER OF RESIDENCY PERMITS TO HONG KONG INVESTORS.
359
WE ARE GENERALLY CONTENT WITH THE LINE SET OUT IN PARAGRAPH 2 OF YOUR TUR. YOU MAY WISH TO INCLUDE THE FOLLOWING POINTS-
2.
(A)
(B)
(C)
OUR EFFORT ON THE NATIONALITY FRONT AIMS AT RETAINING TALENT AND CAPITAL IN HONG KONG. WE DO NOT, AS A POLICY, SUPPORT ANY MEASURE BY A FOREIGN TERRITORY WHICH RUNS COUNTER TO THIS EFFORT.
HONG KONG IS A FREE SOCIETY WHERE ITS RESIDENTS ARE AT LIBERTY TO EMIGRATE. WE HAVE NEVER OBSTRUCTED THE ACTIVE IMMIGRATION PROGRAMMES OF CANADA AND AUSTRALIA.
WE WOULD WELCOME A SCHEME WHICH GRANTS CITIZENSHIP OR RIGHT OF ABODE IN GIBRALTAR WITHOUT REQUIRING THE BENEFICIARIES OR THEIR FAMILIES TO LEAVE HONG KONG.
SEPARATELY, WE HAVE HEARD THAT THE GIBRALTAR GOVERNMENT HAVE INITIATED THIS NATIONALITY SCHEME IN ORDER TO STIMULATE ECONOMIC DEVELOPMENT. THE RECLAMATION PROJECT INVOLVES HIGH-RISE APARTMENTS AND HOTEL RESORT. ACCORDING TO OUR SOURCE, THE GIBRALTAR GOVERNMENT WILL REQUIRE THE HONG KONG INVESTORS TO INVEST, UP FRONT, ABOUT TWO MILLION HONG KONG DOLLARS I.E. ABOUT POUNDS STR 138,000 EACH. GIBRALTAR BDTC PASSPORTS WOULD THEN BE GRANTED TO THESE INVESTORS, CONFERRING ON THE HOLDERS THE RIGHT OF ABODE IN THE UK AND ACCESS TO EEC COUNTRIES.
3. A GROUP OF HONG KONG BUSINESS LED BY SUN HUNG KAI AND MICHAEL SANDBERG VISITED GIBRALTAR LAST WEEK. THE INITIAL RESPONSE FROM PARTICIPANTS HAS BEEN LUKEWARM BECAUSE THEY SEE LITTLE POTENTIAL IN THE GIBRALTAR ECONOMY. MOREOVER, WITH TWO MILLION HONG KONG DOLLARS, HONG KONG INVESTORS CAN OBTAIN THE RIGHT OF ABODE IN THE
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