‘Talents Regime’ to replace current ones running under IPIM

When approved, the new Regime for the Attraction of Qualified Personnel will replace the two existing methods under which individuals may apply for residency permits in Macau. The new regime will also be managed by the Macao Trade and Investment Promotion Institute (IPIM), officials said yesterday during the presentation of the new scheme in a press conference.
According to the Secretary for Social Affairs and Culture, Elsie Ao Ieong, after this new regime is approved and enters into force, it will revoke the regime for granting residency via significant investment and qualified staff, both of which have been in force since 2005.
It has been known for some time that the government has sought to overhaul the troubled existing system, especially since the far-reaching fraud and corruption scandal involving IPIM and other government high officials was first revealed, leading to it now reaching the local courts.
With the new system, the government aims to solve two problems in one, creating a new regime to attract Chinese talent as well as finally put an end to the infamous processes of IPIM, which in some cases saw applications being processed for several years without a final and conclusive decision.
The new system is said to be “fair, open and applying scientific methods” to attract qualified personnel who can offer a clear contribution to local economic diversification in well-defined business sectors and economic sectors.
The new imported talent residency applicants should comply with a series of criteria such as being over 21 years old, possessing a university degree, having a high degree of language skills in Portuguese, English, and Chinese, and providing proof that they have enough resources to start businesses or participate in economic activities in Macau.
Those seeking Highly Specialized Personnel positions must also already have an employer and an employment contract that supports and justifies their permanence and residency attribution.
The government aims to attract talent based on the “advantages offered by Macau,” such as low income taxation, a good reputation for education and health systems, and a preferential positioning to benefit from central government policies, officials said.
Questioned by the media, Ao Ieong explained that IPIM will continue to handle those processes it currently oversees until the system is fully replaced by the new one.