Will Golden Visas become the must-have accessory for Hong Kong financiers?

Hirings for expat professional financiers are now on the rise in Shanghai as the Hong Kong chaos worsens.

High-level expats in Hong Kong may not be calling in the removal vans just yet, but should China strike out at the beleaguered island it’ll be in the Asian giant’s favour. Mainland China is looking to become the major destination for former Hong Kong financial movers and shakers, with some now believing the Chinese leader is well in favour of letting the violent protests continue until the island’s reputation is trashed beyond recovery. In spite of Shanghai’s higher tax rates and its unfamiliar legal system, it now seems that even Hong Kong nationals are considering the move.

Top executives and deal makers are now hedging their bets by investigating their possible futures in mainland China in general and Shanghai in particular. It seems Singapore has now fallen out of favour for the majority, all of whom are sick to death of the social instability caused by the riots, even although they may secretly sympathise with the protestors. Those thinking seriously of relocating are at the top of their careers, and are looking for the best long-term options.

It’s not just financiers who’re now seriously considering pulling the plug on their Hong Kong lifestyle, as lawyers are also considering the move. Even although there’s huge pride in the island’s unique character and history, should the freedoms still available at present be trashed, a move to the mainland might well be the best alternative as regards career opportunities. Backing up this theory is the fact that demand for certificates showing no criminal convictions is soaring, with the papers representing the initial step in moving overseas – or even next door in this case.

Local polls are also backing up the belief that many are quietly preparing to leave, but most citizen residents and a significant number of expat professionals are hunkering down whilst watching developments on a daily basis. Even so, various countries offering the Golden Visa programme are finding their popularity is increasing along with the violence.