IPIM approves only 21 of 536 first-time applications for temporary residency in 1H

In the first half (1H) of 2023, the Macao Trade and Investment Promotion Institute (IPIM) handled a total of 862 temporary residency applications for “Investors, Managerial Personnel and Professionals with Special Qualifications,” IPIM said in a statement.

Among those, a large majority (536) were new applications (first-time) of which only 21 were approved within the first six months of this year.

IPIM also processed 307 applications for residency renewal under the same schemes, as well as 19 residency extensions to family dependents.

According to IPIM’s Data of Temporary Residency Applications for Investors, Managerial Personnel, and Professionals with Special Qualifications in the First Half of 2023, only 39 people were granted residence in the first half of this year under the scheme of “Managerial Personnel and Professionals with Special Qualifications” from the total of 21 applications accepted. None of the 79 “Major Investment Total/Investment Plan” applications were granted.

Analysis from the economic or activity sector shows that most approved applications (62% or 13 applications) related to the Education sector, followed by Financial Services, with three applications (14%), and Hotel and Dining, with two applications (10%).

There was one application from each of Transportation, Storage and Communications, Health & Social Welfare, and Entertainment and Gaming, and these amounted to 5% of all approved applications.