Announcement

The “Investors, Managerial Personnel, Technical and Professional Qualification Holders Residency Scheme” Administrative Regulation No. 3/2005 effective from 4th April 2005 replaces Decree Law number 14/95/M (“Temporary Residency Law”). Applications already received for the Investment Residency, pre-booked applications, renewal and extension applications for Temporary Residency are covered under Decree Law 14/95/M.

From today onwards, all applications will come under the new “Investors, Managerial Personnel, Technical and Professional Qualification Holders Residency Scheme” Administrative Regulation No. 3/2005, the main changes of which are as follows:

Fixed Asset Investment Residency applications must conform to the following requirements:

  1. Applicants must purchase fixed assets outright with no loan or mortgage to the value of MOP1 million.(one million Patacas) The market price of the fixed asset must be no less than MOP1 million (one million Patacas). The fixed assets purchased must be free from any outstanding debts.
  2. Applicants must have a fixed deposit account of no less than MOP500,000.00 (five hundred thousand Patacas) in a credit institution in Macao SAR.
  3. Applicants must have reached an education level of at least higher national diploma level or the equivalent. Applicants that have only completed secondary school or the equivalent, must fulfil one of the following requirements:
    1. The applicant’s nuclear and extended family must be a permanent resident in Macao.
    2. The applicant must have no less than two years experience running an enterprise or have been working for an enterprise in a senior management position.
    3. The applicant must either wholly own or have no less than a fifty-one percent share in a partnership company set up in Macao SAR.

In addition, family members that are able to take advantage of the benefits do not include parents. Preferential treatment for retired Hong Kong residents that have invested MOP500,000.00 (five hundred thousand Patacas) wishing to apply for Macao residency has also been revoked.

4th April 2005