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It's easier for foreign investors to get fast track permanent residency in Hong Kong now. So far eight foreigners have become Hong Kong SAR permanent residents, three weeks after the SAR government put forward a plan to draw more capital investment to the region.
The Hong Kong immigration department has received altogether 51 applications since the Capital Investment Entrant Plan was launched. Half of them are overseas Chinese. On average, their registered net assets are 21 million Hong Kong dollars, or about 2.7 million US dollars.
An immigration department official says the applicants can enter Hong Kong anytime once the approvals are granted. Under the fast-track procedures, the first batch of applications will require only 10 working days to clear permanent residency requirements. Future applications will take roughly the same time.
(CCTV.com November 14, 2003)
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