Digital Assets & Virtual Assets
RWA Tokenisation in Hong Kong: Legal Framework and Structuring Guide

Hong Kong has in recent years made talent attraction a central plank of its economic policy, introducing and significantly expanding immigration schemes designed to attract skilled professionals, high-calibre graduates, and top global talent. The city's immigration framework for skilled workers and professionals now includes several distinct pathways, each targeting different profiles of applicants. Understanding which scheme applies to your circumstances, and how each scheme's requirements and benefits differ, is essential for professionals considering relocating to Hong Kong and for employers seeking to recruit internationally.
This guide explains the principal immigration schemes available for professionals, graduates, and skilled workers coming to Hong Kong.
The Immigration Arrangements for Non-local Graduates (IANG) is designed for graduates of full-time locally accredited programmes at Hong Kong universities who wish to remain in Hong Kong or return to work after graduation. IANG is notable for its breadth: there is no requirement to have a confirmed job offer at the time of application, making it one of the most accessible initial entry pathways for recent graduates.
Eligibility: Applicants must be non-local graduates (i.e., not already a Hong Kong permanent resident or right of abode holder) who have completed a full-time locally accredited programme at a University Grants Committee (UGC)-funded institution or other recognised institution in Hong Kong within the past six months (for "stay" applications) or within the past three years (for "return" applications). Degrees must have been awarded, not merely completed — applicants who have finished their studies but not yet received their degree certificate should wait for the formal conferment.
Benefits: Successful IANG applicants are granted a 24-month stay in Hong Kong (or, for fresh applicants with a confirmed job offer, an initial stay at the discretion of the Director of Immigration). This initial IANG period can be extended if the applicant is gainfully employed. After 7 years of continuous ordinary residence in Hong Kong (which can include the period of study as a full-time student if the applicant was already eligible for ordinary residence), the applicant may apply for the right of abode (permanent residency).
IANG holders may work for any employer — they are not tied to a specific employer, unlike employment visa holders. This flexibility makes IANG particularly attractive for graduates who wish to explore the job market or who move between employers during their early career.
The Quality Migrant Admission Scheme (QMAS) is a quota-based scheme that allows highly skilled or talented individuals to enter and reside in Hong Kong without having first secured employment. QMAS applicants are assessed on either the General Points Test or the Achievement-based Points Test.
General Points Test: Points are awarded for age, academic qualifications, work experience, language proficiency (in English or Chinese), and family background (whether the applicant's spouse has university-level qualifications). The maximum score under the General Points Test is 195 points. Applicants need to achieve a score above the prevailing pass mark (which varies based on the current intake and quota), and must also have a good employment record with internationally recognised achievements.
Achievement-based Points Test: This test targets applicants with exceptional achievements in specific fields (arts and culture, sports, culinary arts, and other areas where Hong Kong has a particular need for talent). There is no specific points threshold; instead, applications are assessed on the merit of the applicant's achievements against a set of defined criteria for each field.
Successful QMAS applicants are initially granted a 24-month stay in Hong Kong, and may remain as long as they are gainfully employed or self-employed in their field. QMAS holders are also not tied to any specific employer.
QMAS has historically been undersubscribed relative to its quota, but the Immigration Department has become more active in promoting the scheme and, in some years, has fast-tracked approvals for applicants in high-demand sectors including financial services, technology, and innovation.
The Top Talent Pass Scheme (TTPS) was introduced in October 2022 as part of Hong Kong's drive to attract top global talent following the significant outflow of skilled workers during the COVID-19 period. The TTPS offers a streamlined two-year visa to applicants who meet one of three eligibility criteria:
TTPS has been popular since its launch, with tens of thousands of applications received in the scheme's first year. Successful applicants receive a 24-month visa with the right to work for any employer (or to be self-employed). They are not required to have a confirmed job offer.
A key feature of the TTPS is its speed: approvals are typically issued within weeks rather than months, and the scheme is designed for online application. TTPS holders may subsequently switch to another immigration status (such as employment visa or QMAS) if they wish to extend their stay beyond the initial 24 months on a more permanent basis.
The traditional employment visa — formally known as a visa or entry permit for "employment" or "investment/employment" — is the standard pathway for professionals who have secured a job offer with a Hong Kong employer. The employer sponsors the application. Key requirements include:
Employment visas are typically granted for 12 to 24 months initially, with extension possible subject to continued employment. Employment visa holders are tied to the sponsoring employer — if they change jobs, they must apply for a new visa sponsored by the new employer (or for a change of conditions).
Application processing typically takes 4 to 6 weeks for employment visas, though timelines vary. Applicants may submit applications from outside Hong Kong or, in some cases, while in Hong Kong on another status.
The Admission Scheme for Mainland Talents and Professionals (ASMTP) is a separate scheme for Mainland Chinese nationals who wish to work in Hong Kong. Unlike the general employment visa (which is open to all nationalities), the ASMTP applies specifically to PRC nationals (other than those who are permanent residents of Hong Kong or who are already eligible to work in Hong Kong under the IANG or QMAS). The eligibility criteria and documentation requirements are broadly similar to the general employment visa, but the approval process is handled through a specific Mainland-related track within the Immigration Department.
All of the above immigration pathways can lead to permanent residency (the right of abode) in Hong Kong. The general requirement is 7 years of continuous ordinary residence in Hong Kong. "Ordinary residence" means lawful residence in Hong Kong other than for a limited purpose (such as study or tourism). Work visa holders, IANG holders, QMAS holders, and TTPS holders who establish continuous ordinary residence for 7 years may apply for the right of abode, which confers permanent resident status and the right to live and work in Hong Kong indefinitely.
The 7-year period does not need to be immediately continuous — brief absences from Hong Kong do not automatically break the continuity of ordinary residence, but extended absences (particularly those exceeding the permitted periods under the relevant visa conditions) may affect the calculation. Legal advice on the status of the 7-year period should be sought where there is any doubt.
Employers hiring internationally in Hong Kong should be aware that: employment visas must be applied for before the new hire commences work (commencing work without a valid work authorisation is an offence for both the employer and the employee); certain visa applications (particularly for senior roles or C-suite hires from outside Hong Kong) may require additional documentation, including board resolutions and evidence of the company's financial standing; and employer obligations continue for the duration of the visa — if an employment visa holder's employment is terminated, the employer must notify the Immigration Department.
For IANG, QMAS, and TTPS holders who are in Hong Kong on their initial visa and seeking employment, employers should verify that the applicant's visa permits employment before making a job offer, and should note that these visa holders may commence employment without additional sponsorship during their initial visa period.
Alan Wong LLP advises individuals and employers on all aspects of Hong Kong immigration, including: IANG, QMAS, TTPS, and employment visa applications; extension and change of conditions applications; applications for the right of abode and permanent residency; advising employers on their obligations in relation to foreign employees; and advising on immigration issues arising in corporate transactions (including the impact of business restructurings on existing visa holders). We provide practical, timely advice that helps individuals and businesses navigate Hong Kong's immigration requirements efficiently.

A practical guide to having Hong Kong documents notarised and authenticated for use in Canada, covering the Hague Apostille Convention, province-specific requirements, common document types including immigration and real estate documents, and how Alan Wong LLP can help.

A comprehensive guide to equity fundraising mechanisms available to Hong Kong-listed companies under the HKEX Listing Rules, covering rights issues, open offers, top-up placements, general and specific mandates, and the key disclosure and shareholder approval requirements.