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- 8.
16.
There are also a number of uninvited EC applicants who are unable to meet the employment guideline of 100 persons. By way of comparison, countries which offer business immigration normally require an investor-immigrant to create only a small number of jobs. A special feature of Hong Kong's economy is the large number of small and medium-size companies, particularly as it becomes increasingly service-oriented. It is therefore recommended that setting the minimum level of employment at 20 would be more appropriate in the context of Hong Kong. Candidates who meet the proposed investment guidelines of $50m should have no difficulty in meeting this. Relaxing the employment level as recommended would increase the number of qualified candidates among the uninvited EC applicants in Paper 25/92 [revised] by another 16.
17.
As many companies are relocating their manufacturing activities to China, a manufacturing company often has management and headquarters functions in Hong Kong as well as limited manufacturing activities. A strict application of the employment requirement for manufacturing companies would effectively exclude the owners of these companies who are engaged in the service industry as much as in manufacturing. It is therefore recommended that there should be no distinction between the employment requirement for the manufacturing and service sectors.
Advice sought
18.
a)
b)
It is recommended that :-
the newly nominated candidates identified by the EC Task Group should be followed up immediately;
efforts should be made to identify additional candidates from the sources in paragraph 4;
G.F. 316
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